All Forum Posts by: Marlia Stone

@Allan Smith How do I winternize my home? I know someone mentioned that because it had been getting colder lately to keep the heat on but that can be costly if it’s vacant.

I could also use some encouraging advice as well.

Hello BP,

I have a duplex located in the philadelphia area. My property is completely vacant while it is being worked on, and I haven’t been there in about a week or so. This evening I sent over someone to my property to check the water heater, but I was faced with an even bigger problem. A pipe bussed in the ceiling of the first unit that caused severe damage to the ceiling, floor and wall structure. The water went through to the basement as well causing damage to the ceiling and walls.

I’ll be calling my insurance company today. Has anyone ever experienced this? Any advice on this if you did go through your insurance?

@Drew K. Hey Drew, I haven’t been doing Realestate that long but I’m learning to pace myself. Realestate is not a get rich quick scheme. It takes a lot of time and effort whatever Avenue you decide to take. I only have one property, and it has been taking me some time to get it fixed and listed. I’ve met so many ppl and learned many things. No matter what problem I had I always had the mindset to keep going. And I’ll continue to do so, as well as you should. So my advice to you is to keep going and networking. You’ll find something.

@Drew K. Hey Drew, I haven’t been doing Realestate that long but I’m learning to pace myself. Realestate is not a get rich quick scheme. It takes a lot of time and effort whatever Avenue you decide to take. I only have one property, and it has been taking me some time to get it fixed and listed. I’ve met so many ppl and learned many things. No matter what problem I had I always had the mindset to keep going. And I’ll continue to do so, as well as you should. So my advice to you is to keep going and networking. You’ll find something.

@Berdine Ramos I would take it but continue to do my due diligence with the background check prior to the lease commitment.

Hey BPs, given all of the great advice that I received in my prior post “Investment Property Gone Bad”, I decided to keep my property, and fix the minor issues that I had. I am currently now in the process of finalizing everything such as electrical work, paint, inspections, etc. I just wanted to know if you could give me some advice when it comes to listing the property, background check, tenant search, Advertising Pictures, apps/sites to use, paperwork for landlord, and/or anything I need to know prior to listing. I am open ears! I am open to hearing your stories as well, for things you didn’t know prior, to what you know now.

Side note: I have two people that are interested in the two bedroom, but I haven’t quite set up anything for the background checks.

Hi Allen, Thanks for your comment. Looks like you caught it just in time. The property is currently in Philadelphia, Pa.

Thanks Mark for writing in. I am learning that the inspection period is the most valuable as everyone has mentioned. hearing everyone's story about the amount of dollars that people spend on fixing a property makes my 10K look like nothing. I have decided not to sell and continue working on the one unit. I feel like I'm so close to listing, it would be a complete waist to sale after putting money and time into.

Hi Dante,

Thank you, I appreciate your response. It made me feel a lot better! Leaning the things i know now, for in the future will create such a great story for me like you mentioned. I can't wait to listen to your podcast!