All Forum Posts by: Khari F.

Quote from @Sam Booth:

- Curtain rods (instead of blinds that will probably get wrecked, tenants can supply their own curtains)

- Simple paint scheme for touching up paint (Grey walls and White trim is working great so far)

- Door knob stoppers (The circular ones the doorknobs hit so they don't hit the wall, or baseboard ones)

What ideas can you add to my list?

Aloha,

As Nathan mentions, typical curtain rod hardware is problematic. Depending on the property, we install a medium grade curtain rod (not those flimsy rectangular ones that clip onto the mounting brackets) that uses much better hanger brackets, AND, you must be sure they are PROPERLY and securely installed. So many of the cheap ones get pulled loose, and you end up with multiple mounting holes and twisted rods. The other type of curtain rod we use is a better quality aluminum track with ball bearing carriers for the curtain hangers to hook into, with batons for the pulls. These are great and seem to last a VERY long time.

A simple paint scheme is good, but adding an accent wall in main living space and primary bedroom will help set you apart from the competition. You can still "standardize" your accent color. You can also purchase wallpaper borders VERY cheaply to add some flair with a band at the top of a wall.

The best door stopper solution are the magnetic stops. Securely installed, they prevent damage to your doors AND walls. Some areas use a lot of "friction" type stoppers, these are hard on doors because they typically hold VERY securely, and you actually twist the (hollow core) doors when you release them to close. The magnetic stops ALSO prevent door slamming from sudden air movement or "leaning" doors.

I purchased my properties in my own name and then later transferred them into an LLC. My attorney helped me set up it so it wouldn't cause the due on sale clause to be called. I'll message you with his info.

Quote from @Khari F.:

How does insurance company qualify/underwrite you? Seasoning period?

It’s based on your age, health and financials. The better health you have the better cost of insurance. This will allow you to optimize the policy in the most efficient way. Once you know what product and amount of money to put into it: you sign an application, do a medical exam where the nurse comes to your house for 10 minutes (insurance company pays for it), then sign off on the policy and submit your check. 

You can use these insurance machines for tax-free income, buying real estate, storing capital, estate Taxes, income protection, etc. 

@Shae Langley it depends. I have several single family rentals in my name and commercial properties in a LLC.

I have a property manager and insurance.

Some would say I am nuts for not having everything in a LLC but we take care of our properties and have good attorneys too