All Forum Posts by: Judy Murphy

I recently sanded, stained, and finished the hardwood floors in my rental.  A definite learning curve!  But it turned out OK.  A little darker than I wanted, but stain options were limited at the store.  Don't underestimate yourself, especially if you are a DIY type.  I enjoyed this experience, and hope to do it again someday...just to increase the knowledge.  It does take time, so plan accordingly!  Good luck in whichever route you choose to take.

I rely on the MLS. I pay close to retail....but my properties are still cash flowing. I also fix them up a bit, nothing drastic, maybe add a bath or bedroom, and hopefully increase the value of the property. I also know the market extremely well. I buy in a town I used to live in. This knowledge helps me get through the clutter of the MLS and know which properties I should keep an eye on.

Yes, this is a scam.  However, for those folks that say "if you can text, you can talk", that is incorrect.  Texting requires a lot less data transmission than voice.  From my house (remote Alaska), I can text 95% of the time.  I can only carry on a phone conversation about 5% of the time...and usually that phone call gets cut off.  I therefor have to drive about 10 miles until I am in good enough cell service that will support the data for voice calls.  (Yes, I have a cell phone booster and wi-fi at my house with calling enabled.)  So, just to reiterate....the check you received is a scam.  Just don't discount it on the lack of phone service.

Whoa....am I missing something here?  If you "failed" to check the inside of the vanity on the (exit) walk-through inspection, did you also "fail" to examine the inside of the vanity prior to renting?  Do you know for a FACT that the vanity was broken while this tenant was occupying the residence?  Innocent until proven guilty...  A tenant for 5 years with smooth sailing...hmm...I just might let such a small amount be a learning opportunity for you.  Next time it might behoove you to do the walk through with a checklist in hand...

I can’t speak for other RE agents, but I only got my license to learn more about the RE game...and let me tell you, as a new REagent, I was very busy just learning the day to day stuff. Since I owned one rental prior, I thought I had a good grasp... I also live in remote Alaska which adds a few challenges to being a RE agent.     Many inquiries from the lower 48 should have been saved for the next reality show!  Now I am transitioning out of the agent status to full time investor in my home town in the lower 48. I am very thankful for learning the agent duties, but the time I wasted w “tire kickers” (plus a 4 hour time difference for a lot of calls) kept me busy from early morning to late evening w minimal results/remote properties. Now when I get up at 4 am I work on MY out of state rental properties and feel more productive!   Hmm, maybe I should get a RE license in the state I am investing in???

I would be interested in meeting with fellow investors. 

Judy Murphy

The big box stores now sell Kwikset Smart Key (locks).  Instead of changing out the lock itself, you just change which key will open the lock.  Very easy to use/change keys, plus no hassles of removing the lockset and inserting a new lockset.  Cost is slightly higher than regular door locks, but typically run $30-50. 

They also have electronic locks that normally run about 100 bucks.  Just give each tenant a code, then after the tenant moves out, change/delete the code.  Both options are great. Plus, a property manager can have a "Master" code to get into each of your rentals without having to search for keys...if you so desire.

Nicole,

Can you send info on the "other" property please.  TY.

Thank you for protecting your community!  As a former police officer, I understand how stressful this line of work can be. As a new investor, the entire process can be overwhelming. Thank you for submitting this detailed narrative of ACTIONS. It is an inspiration to many!

JP Murphy, Valdez, Alaska

I have been perusing the MLS periodically, mostly looking in the Nashville/Columbus area. I also have a local realtor in Nashville.

JP