All Forum Posts by: Mags S.

Hi BP'ers. I need to replace cedar shake siding (and sheathing) and the windows within that space. I'm prolly going with 2 diff contractors. Which should get done first? thanks

Hi BP!  I'm looking for a contractor to replace original cedar shake siding (I think that's what it's called) in a 2-story bay window area. The property is located in mt airy. It requires philly permits.  Know of anyone? thanks 

@Account Closed  pretty much an expert from what I've read here. :-)

Thanks @Account Closed  I wanted my tenant's insurance to be first in line to cover any lawsuits tenant's guests may want to file against property/property owner. Property is located in a big litigious city. At renewal time, I'll have to look more closely at these things; prolly would have been a good idea to talk to my insurance agent. Thanks for info. 

Good idea @Account Closed on the rider for loss of use. I'll have to remember to include that next time around as a tenant requirement when they are getting their renters insurance. Currently I only have them add me to policy as add'l insured and some $ min coverage

Contact a local realtor and ask them for state approved rental forms.  Then just add a ton of addendums to it to cover any specific situations. For example, my rental lease has a space to notewhich appliances are included in rental. Our local laws only requires a stove be provided. I added an addendum noting that only a stove was included in the rent. Dishwasher, disposal, fridge, w/d not included as part of the rental. The addendum says essentially I can remove or choose not replace any appliances beside the stove. So if my tenant does not want to take care of my appliances, I have the legal right to remove them.  I did pull something from BP that i used as part of the rental process. I believe this site has a files section. Whatever I 'borrowed' was great; I just can't remember right now what it was. 

I used SmartMove for credit/background checks. Potential pays the fee.  

I went the free and easy way for electronic rent payments. The tenant does an electronic xfer from their acct into a bank account I created for that purpose. The electronic xfer, until just this past month, also had the tenant name attached to the payment xfer info. Electronic bill paying is now a pretty standard offering of most banks. My rent payment comes in as cash on the day the xfer is made. 

Best wishes for success

How much you do and products used depends on the price point of the neighborhood and the target tenants. Tenants can be tough on homes. I would suggest you live in it for a couple of months and get a feel for the place. From the photos, I see a kitchen and bath with a lot of dead space, so I wouldn't rush out to put in a new kitchen.  For example, You'll prolly find your most used counter space is between sink and stove. The end counter runs could be wider to be more efficient/effective.  One day you may wish to sell the place and buyers are much more demanding than tenants. Don't lose sight of your ultimate exit strategy.

If multiple offers are common in your area, cash is king.  Otherwise, get a pre-approval (which often is not a true pre-approval but a qualification). You don't need a property in mind - it'll just say TBD for address. At minimum they will do a credit check and let you know your maximum purchase price and minimum down payment and loan type. If you need the services of a real estate agent, any worth their salt should require a pre-approval at minimum to even take you out to see houses...unless you already have established a relationship.  This is how it works in my locale. Time is money

If the rest of the kitchen cabs look in same condition as photo door, I would not paint them. They look pretty good. If cabs are not prepped and painted really well, it'll be a crappy outcome. Those look like nice quality doors; just a traditional style. Clean them up and focus the rest of ur attention and monies on the rest of the kitchen.   Nicer backsplash, flooring etc.  The wow factor is in the 'accessories'.

@Robert Stranix  FYI-unless things have changed, you will need to sign on with a broker to complete your real estate sales licensing app. There is a section in the app that the broker must complete and sign. Then you are granted a sales license (in PA or NJ)