All Forum Posts by: Gaby Liu

First of all, I would collect and save all the communication you've had with both your contractor and agent. I would also check any contract you've had with your agent to see if there is any language giving them authority to provide direction on your behalf to a contractor.

If the contractor truly acted on their own and is still threatening a mechanics lien, I would talk to an attorney. We had a fraudulent $10,000 mechanics lien quashed for about $500. Our case was very simple because the debt was incurred by the prior owner, not us. The contractors attorney placed the lien on our property knowing we did not owe the money. Your case is more complex, so it may be more expensive to fight. The Indianpolis law firm we use is Landman Beatty.

Hi Greg,

thanks for your reply , there was not much evidence because contractor didn't communicate with me ,text or email ,none.

even the scope of he provided was difference then the first one I submitted and aprroved by hard money lender. he manupilated the contract

1 Vote

Indianapolis, Indiana

Quote from @Mohit Gupta:

@Nick Brown, @Gaby Liu - I just ran into this and would love to know if y'all were able to find a solution!

it is all good , who knows who under your roof if you don't tell

0 Votes

Hello fellow investors,

I find myself in a complex situation and would greatly appreciate your expert advice and insights on how to proceed. Here's the issue:

I recently hired a licensed contractor to work on a project with an initial cost of $147,000 in indianapolis, indiana, but unfortunately, things took an unexpected turn. Not only did he fail to finish the work, but the contractor also billed me an additional payment of over $35,000 for work that was not approved or authorized by me as the property owner. Furthermore, the contractor proceeded with structural work without obtaining the necessary permits from the city, resulting in violations, correction costs, and potential penalties. To make matters worse, correcting the violations and finishing the unfinished work cost me an additional $30,000 to make up for his mistakes.

What troubles me even more is that the contractor never bothered to communicate with me during the entire process. There were no phone calls, emails, or text messages exchanged, leaving me completely unaware of the situation. I was informed by my agent that the contractor refused to communicate with the owner and only communicated with the agent. Instead, the contractor sporadically spoke with my agent, who visits the site once a week to take photos. I never authorized my agent to make any decisions on my behalf, nor did I receive any written proposals with pricing adjustments or changes to the original agreement.

Now, the contractor is threatening to place a lien on my property, claiming that he did the work and that my agent was informed about it. However, my agent has no right to deny or approve any work on my behalf, and I was never kept informed throughout the project either.

Given the complexity of this situation, I am reaching out to all of you for guidance. Have any of you faced a similar predicament with contractors or property-related issues? How did you handle it, and what steps should I take to address this matter properly?

Your experience and expertise would be immensely valuable to me, as I want to find the most suitable and fair resolution for all parties involved.

Please share your thoughts and advice in the comments below or feel free to reach out to me directly. Your support and insights are sincerely appreciated.

Thank you for your time and assistance.

Best regards,

Gaby

0 Votes

Indianapolis, Indiana

Quote from @Malgorzata Sadowska:

STR - far more profitable. Hire a reputable manager / company to help with the headache.

Hi Malgorzata,
I looked up the government website and studied the regulations and Miami 21 zoning ordinance, and it appears that lodging is prohibited in all areas. if there is something that I am missing?I m thinking of buy a SFH to do STR. but not sure where to start

0 Votes

Fort Lauderdale, Florida

Quote from @Alice Chen:

Quote from @Gaby Liu:

Quote from @Drew Sygit:

@Gaby Liu You should also check with the HOA about how many unrelated occupants they allow.

If you rent by room, probably better to get PMC instead of DIY.

I just found out with HOA , not allowed to rent by room at all. I didn't read the CC&R before.

Hi Gaby have you considered keeping a room for yourself and rent the rest out? Does HOA still not allow it? I doubt HOA would specifically call out all situations in their CC&R.

DM me for detail, i have experience it all .lol

0 Votes

Las Vegas, Nevada

I didn't go search any data, I just know two of my neighbors brand new house has been on market 2 months and still have not been rent it out. and the rent price they listed sure can't cover their mortgage. SouthWest Vegas

1 Vote

Las Vegas, Nevada

Thank you, Zeona, that is a challenge, and I will think about it. could work, ,could not work, won't find out until I try.

0 Votes

Las Vegas, Nevada

Quote from @Hardy Vibert:

@Gaby Liu

Cris A. Atchison (St louise Real Estate Investor Agent)

(314) 703-5600

thank you very much!

0 Votes

Quote from @Michael Fleet:

I have neglected to provide an update. I apologize. The lower unit (3/1.5) was rented for $995.00, which was $100 MORE than projected. We are receiving applications for the upper unit (2/1) as I type! At the end of the BRRRR, the project will have cost me approximately $7,500 per door! My 2nd & 3rd BRRRR were much better! I'm projected to get a tax-free pay day on the refinance when complete!!!!!

Shout out to David Greene & Brandon Turner!

Hi Michael, can you refferal a investor friendly agent in ST louis? tanks!

0 Votes

Quote from @Conner Olsen:

Quote from @Gaby Liu:

Quote from @Conner Olsen:

Quote from @Rodney Sums:

Quote from @Conner Olsen:

Here's a list of my pros and cons of medium-term rentals as compared to traditional LTR. This list is based on my own personal experience of running a monthly rental in Austin, TX.

Cons:
1. More turnover - My average stay is between 45-60 days so that means I need to constantly be looking for new guests/tenants to stay in my property.
2. Furnishing maintenance - The host furnishes a property so you have more expenses as the furniture wears out. I've only had to replace a bedframe in the past 9 months.
3. Cost to get started - You must fully furnish a property as well as fully stock the kitchen. The host provides everything from silverware to cookie sheets to blenders.
4. Cleanings - The property needs to be cleaned between every guest. The host needs to have cleaners prepared and ready to go when a guest leaves. The host also needs to verify that the property is cleaned to their standards. I list my property on Airbnb so the guest pays the cleaning fee.
5. Awkward vacancy gaps - Every once in a while you'll get these awkward gaps of a few weeks between guests. These can add up and increase your overall vacancy for the property
6. Dealing with more tenants - You have to have more conversations with tenants than you would with a LTR. You have to be more responsive as a landlord than you typically would with a LTR. That being said, I probably message my guests 10 min per month.

Pros:
1. Higher rent - Market rent for a 2/1 is $1,600 in my area. I'm renting my property for $2,750.
2. Property is constantly cleaned - The property stays in better shape from a cleaning perspective since it's getting professionally deep cleaned every 2-3 months.
3. Less wear and tear on the structure - The owner sets up the MTR so they are the ones putting in furniture, hanging pictures etc. They have control over what is put where and the guest does not customize the space to their desire.
4. Higher paying tenants = higher quality tenants - I have had great tenants so far. Everyone takes care of my property better than I would have expected. I believe that part of the reason is they can afford double the higher rent so they are less likely to damage a property. It has felt like all my tenants have been A class renters. *This could easily be just luck of the draw.*
5. MTR guests treat the property like their home (similar to LTR tenants) - They are living in a property for 2-3 months so they are less inclined to damage the property or make it dirty.

Overall I think MTR is a great strategy especially in expensive markets. In my opinion it is the best way to make cashflow in markets with high appreciation.

I'd love to hear everyone's experiences with MTR and whether they agree/disagree with my list!

You referenced in dollars the higher rent with the MTR compared to LTR. How do your expenses compare in dollars?

Th impression from the reading is your annual cash flow and ROI is higher with the MTR. Please share how well it outperforms.

Extra expenses are mostly utilities, which run about $200/month for a 2/1. I've maybe had $300 in a year for furniture replacement.

is $200 enough for all? water/gas/electricity/wifi/netflex/lawn care or snow removal , I analyze MTR deal recentlly, I try to budget $500 a month , would it too much for a 2b/1b unit in a duplex?

$500/month is a good amount to budget for an entire 2/1 duplex here in Austin, TX.

$350/month water/gas/electricity
$100/month internet
$50/month lawn care

thank you , so total I need to budget $500*2 =$1000/mo for the whole Duplex. that's alot

0 Votes

Austin, Texas

All Forum Posts by: Gaby Liu

Gaby Liu has started 16 posts and replied 113 times.

Post: 📢 Seeking Advice from Fellow Investors 📢Contractor issue

Post: Rent-by-the-room insurance costs???

Post: 📢 Seeking Advice from Fellow Investors 📢Contractor issue

Post: Airbnb STR or LTR Tenants?

Post: Rent room by room in Las Vegas remotely managing

Post: Las Vegas Rental Trends

Post: Rent room by room in Las Vegas remotely managing

Post: Saint Louis, MO: BRRRR Duplex

Post: Saint Louis, MO: BRRRR Duplex

Post: Pros/Cons of Medium-Term Rentals