All Forum Posts by: Matt Clark

You're on the right track - stick with the ones that work well with you.  Just get competing quotes from time to time to make sure their pricing remains competitive.  And let them know that you are shopping prices from time to time.  If they like working with you they'll keep their prices in line.

And occasionally it's good to award the job to one of the competitors.  It keeps your regulars on their toes, and it helps you avoid getting the reputation of a shopper that doesn't follow through; subs/contractors talk to each other a lot!

@Anthony Polcyn, your single family rental has bed bugs from the previous tenants... how do the neighbors figure into the equation?  Or am I confused?

Are there some details missing?

Attention all investors in Roanoke, Salem, Vinton, and surrounding areas of Virginia:

BP Meetup on July 29, 2015, 7:00pm at the Grandin CoLab www.grandincolab.com, Conference Room B.

Please join us for roundtable discussion, brainstorming, networking, and local GIS tutorial by@Chris Vail.  This is an open event, please invite anyone you know that might be interested.   

Meghan,

Welcome to BP! 

Dive in and read, read, read!  

We'll be having another Roanoke Area Meetup on July 29, 7:00pm at the Grandin Colab.  I hope you can join us.

I've had good results with the similar Homax product.  I prefer the brush on kit over the spray on kit, because the overspray is difficult to contain.

Definitely use a respirator, and follow the instructions EXACTLY or it will not work properly.  And yes, they do take more than a day to cure.  Sometimes up to a week if there is high humidity, low temperature, or poor air flow.

And as mentioned earlier, the end product may not align with expectations in a higher-end property, but will be great for at least a B property.

Three months is usually right... Unless they have pets, burn candles, or smoke in the apartment. Then you should consider monthly. 

Metering separately is expected, and like all electrical work, it's safe if done properly.

So there are three meters - one for each of the two smaller units and one for the third unit and the common area electric?  Is that right? 

Do the tenants pay the electric bill or does the owner?  If the tenants pay their own and they find out they have unknowingly been paying for common area electricity, you will probably have a huge headache and end up writing some unpleasant checks.

It's fine to charge them for a share of common area electricity, and in fact it's common practice, providing it's written into the lease.

My favorite demo tool:

https://en.wikipedia.org/wiki/Mattock

Works great for getting up the old tile.  You can also use it for taking up the cement backer board, if that's what you have.

Best bet is to talk to the city zoning office first.  Do it quickly so you know exactly what you're dealing with before you close.  I know St. Pete is aggressive in zoning enforcement, I presume Tampa is too.  You may run into a roadblock trying to rent two units.  And just trying to fly under the radar will eventually backfire every time.

Hopefully it's not even an issue and everything was permitted and approved as it should have been, and you can convert it into two units.

Best wishes!

Tomorrow night, 7:00pm!  Please have one resource in mind that you would like to share with everyone... a website, contractor, business strategy, or anything else that has been helpful to you.

Another event will be finishing up in the main area of the CoLab at that time, but come on in and find your way to Conference Room B.  It's about 2/3 of the way to the back, on the left side.

If you have any complications finding us just give me a call (540) 293-1506.

See you soon!