All Forum Posts by: Joe Roberts

Schlage digital deadbolts. Non-locking knobs. Tenants don’t get a key. Lockbox on a fence post inside the backyard with backup hard keys. Set the lockbox with a contractor code the same as you set for each deadbolt. Tenants pay $100 for reprogramming the deadbolt when little Johnny gives Susie Q the code then gets caught banging her best friend and she goes mental and starts stalking him. And yes, that’s exactly how I explain it to them. Using this system I’ve had exactly one call about being locked out. It was at 3am and the tenant was so drunk he couldn’t remember his code. And that cost him $125 for an after hours non-emergency call even though my voicemail ate it up because my phone was on silent.

So are you able to change the code remotely? If so, I assume that you do that over WiFi? Does that mean you have the internet set up on your name?

To the OP, it may not apply in your situation but for anyone reading who has turned a primary residence into a rental property as I did, I have been able to use my former neighbors for things like taking possession of keys. As long as you had a good relationship with them, it's definitely something to consider!

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Originally posted by @Jamie DeRossett:

There is no concrete answer for the finishes questions. In my opinion those items modernize the dwelling and make a big difference; however, I done those things and have a appraiser come in and not think they are a big deal. Appraiser should look at the market and determine the difference between dwellings that have and have not been remodeled. Then you would subtract your cost from the ARV to if it is worth it or not, but in your case there may be extra motization of getting a better tenant at higher rent. Your best bet for a good appraisal after the improvements is to document the cost and provide it to the appraiser. Look at the neighrhood comps and see what remodeled homes are selling for and subract your cost and that gives you a pretty good indicator if it is worth it or not.

Great advice and I’m putting it to work now, thank you!

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THANK YOU @Jamie DeRossett for that very thorough and very helpful post. Getting one's property appraised at expected ARV is so important to many investors' deals, but it seems like this is a topic with very little practical advice out there. Much appreciated.

A couple questions for you. In terms of interiors, how much value do appraisers typically place on the finishes in kitchens and bathrooms? Also, I am considering removing some walls to create a more open concept floorplan between kitchen, dining room and living room. It will likely get the house rented faster, but is this something that an appraiser will even care about?

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Originally posted by @David Lee:

@Joe Roberts welcome to Biggerpockets. I want to thank you for your service and congratulate you on buying your first property. I am live in NC and if there is anything I can help you with let me know.

Awesome! Thanks for reaching out David. I see you do wholesaling, do you own any rental properties yourself in Lenoir?

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Hey Brian,

My intro post was just a few hours before yours, so I am new here as well. I live in Holly Ridge and am currently in the middle of my first BRRRR in Jacksonville. I am hoping to make the Jacksonville meet up tomorrow but I am getting carpet installed in the afternoon so we'll see how long it takes! Hopefully we can meet at some point!

-Joe

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Good evening Bigger Pockets!

I have stalked Bigger Pockets off and on for a couple years but this is my first post. A little bit about me: I am an active duty Marine Corps helicopter pilot currently stationed at MCAS New River in North Carolina. I am married with 4 awesome kids (the newest being my two-week old daughter!). My wife and I have been landlords for about 5 years on a home in Pensacola, FL we turned into a rental when the Marine Corps moved us. Although I have been interested in Real Estate for years and have been trying to buy another rental property for about a year, it wasn't until last month that we bought our first actual investment property in Jacksonville, NC.

Now I am almost done with the rehab on that property and looking to dive back in! I have learned alot from the Bigger Pockets community over the last couple years and I am excited to connect with others and give back!

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All Forum Posts by: Joe Roberts

Joe Roberts has started 9 posts and replied 46 times.

Post: Manage from a Distance - What to do with Keys?

Post: What do appraisers care about in Kentucky?

Post: What do appraisers care about in Kentucky?

Post: New Investor from Eastern North Carolina (Jax, Wilmington)

Post: Anyone from Eastern North Carolina?

Post: New Investor from Eastern North Carolina (Jax, Wilmington)