All Forum Posts by: Kimberly T.

Welcome @Matt Sauls! I grew up in the IE (Riverside), now living in OC. Cash flow is huge for me too, and it will be tough to find in CA, generally speaking. Especially now that prices have started rebounding.

Lots of great info here on BP, and you can search for different words on here to look up past articles and threads on different topics.

Well, some issues that may be problems (or may not) that I can think of:

- Aluminum wiring was used in some areas starting in the mid or late 1960s to save copper for the war. Check if it has that. It can be retrofitted for probably $1000 to $2000 per unit, depending on number of outlets in each unit.

- Lead paint. If you care. Only really an issue if you plan on doing some serious demo/remodel.

- I think they may have used gyp board with asbestos. Again, only an issue if you do demo/remodel.

- Probably has galvanized sewer drain line(s), which may be nearing the end of their useful life. Can be retrofitted with a liner, or replaced.

- Don't know if they insulated walls/ceilings back then (assuming this is wood framed) in Texas. They didn't insulate them here in CA in the 1960s.

- I've heard of soils issues in parts of Texas that may have affected the foundation/structure, check if that's an issue in your area.

That's all I can think of right now. Maintenance costs probably depend a lot on the type of construction of the building, how well it's been maintained, and whether any of the above issues have been addressed already.

Good luck!

You guys should also be aware that this can happen when you list a house for sale as well.

We listed my grandmother's house for sale last year after she passed away, and within just a couple days, our listing agent was getting calls about "the house for rent." He had no idea what that was about (this was a first for him), called me to make sure we weren't listing it for rent, then he emailed the scammer pretending to be interested in the rental. The scammer had the typical terrible grammar/spelling and illegal word usage ("looking for good Christian tenants" etc.). Our listing agent emailed him back to knock it off, and we flagged every online listing we could find.

If you find someone running this scam on your property, you should let the neighbors know to keep an eye out for suspicious activity. Some scammers actually have enabled their victims (tenants who call about the fake rental ads) to move into the home by breaking in and changing the locks, while the owner/seller is unaware because they aren't checking on the property.

Sure, it's possible to tell them that, I suppose. But don't be surprised when they:

1) Don't believe you because all your supporting docs will show your real primary residence on them.

or

2) Do believe you, then find out you lied and slap you with mortgage fraud.

It will not end well.

We have never had bed bugs (knock on wood), but my father (who's been a landlord since before I was born) actually talked to a bed bug exterminator once, just a year or two ago. That guy told him that the heat treatment is the best, because you can't "miss" an area when applying it (like you can with spraying chemicals), it's just universally applied throughout the dwelling and spells death for the bugs, no re-treatment needed.

Late, you say? On the first time they are to pay you rent? No! ;)

This is totally up to you, as I have heard lots of landlords on both sides of this issue.

Personally, we allow each tenant one time of paying late without a late fee (as long as they pay within the Notice to Pay or Quit time period), make it clear this is a one time only deal, then come down on them swift and hard for any subsequent late payments. For tenants who had a legit goof-up, they appreciate the leniency of having it waived the first time; this builds a good relationship with the tenants who are honestly trying to be decent tenants. For the tenants who just want to test our limits, they learn quickly that we are all business.

We recently had to replace some kitchen cabinets in one of our AZ rentals, and were considering a contractor who was going to buy cabinets from Discount Cabinets in Mesa:

http://www.cabinetsaz.com/

We ended up going with a different contractor (lower total price for the remodel), so I don't know how things would have worked out with Discount Cabinets, but they appear to have quality cabinets (plywood boxes, etc.) for a good price. You will need a little lead time for them to build the cabinets before they are ready for installation.

For tile, we just go to Lowes or HD.

My husband and I own a triplex locally that we self-manage, and 2 fourplexes in AZ for which we have a PM. I personally would not feel comfortable owning in another state without a PM.

The key is to make sure you get a good PM. There are lots of threads and articles here on BP about finding a good PM, definitely worth checking out.

I'm a structural engineer. Bought our house with my husband (also an engineer) 1 month before our wedding, then bought our first rental (triplex) a couple years later, then a fourplex in AZ the next year, then another fourplex in AZ last year. When I was growing up, my parents were landlords, so I already had an understanding of the process.

Count me in the "no way!" category. I'm not running a pawn shop, and I don't barter. To me, it's a big red flag if they don't already have the cash saved up to move when they were already planning to move. If they don't have the cash when they're planning to move, what are they going to do when they have an unexpected expense while they're a tenant?