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All Forum Posts by: Matthew Paul

Matthew Paul has started 166 posts and replied 6737 times.

Post: REHAB COSTS - MATERIALS & LABOR - ZIP CODE

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

How far off ? The site had a sprinkler system I would charge $ 8000. priced out at $ 32,000 .. I wish that were the case . Cost of materials was way low and cost of install way high . I can only dream . I am in Annapolis in a high dollar area .

Post: Tenants want to counter sue for damage they did not report

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

Tell them you will 1099 them for the money owed . Then tell them that you have contacted the IRS and the amount owed plus fees will be deducted from their tax return automatically . And that they will probably have to refile their taxes .

It works every time . Just have on a good poker face .

Post: REHAB COSTS - MATERIALS & LABOR - ZIP CODE

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

I install irrigation systems , I just checked prices for my zip code , Its way off , But I wish I could get what they were quoting . 6 jobs and I would be done for the year .

Post: Zoning Laws - Living and Renting in 1 Unit

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

Its called a roommate , they get 1 floor and you get the other .

Post: Inspector License

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

An inspector license isnt going to give you what you need to know what rehab problems will come up , that comes with experience . When I an looking to buy a property I have another friend look at it , we are both contractors. This takes emotion or excitement out of the deal . Plus he will see things I might have missed . And when its all said and done , something will still be missed .

Post: Property emergency fund question

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

Bad luck comes in three's . I had a well pump , outdoor unit on the AC , and the water heater all go out at 1 property the same month . Prepare for the worst . I did the well pump and water heater myself , paid a buddy to replace the AC , the total cost for all three was less than 2 grand . Would have been 3x that if I hired it out .

Post: 50 percent rule for new construction to rent?

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500
Originally posted by James H.:
Thanks Jeff, for you insight. Thought there would be more input on new construction rental analysis and/or garage apartment analysis.
Matthew, I don't think zoning will allow for a separate meter. Anyway, while I would normally want utilities metered separately, I don't mind in this case since I would make the unit energy efficient enough that I would make a little extra on the "all bills paid" aspect.

I doubt you would have a problem with zoning , if they are allowing a second residence on the property . Include it in the plans and see what happens

Post: Craigslist Housing wanted

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

Has anyone contacted the people looking for rentals on craigslist under "housing wanted" . I have read a bunch of them and its funny the unrealistic demands or wants the people have .

Post: PM refused to provide tenant contract to owner

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

if they wont give you a copy , simply call or write the tenant and ask them for a copy , offer them a couple of dollars if need be .

Post: Bidding for rent?

Matthew Paul#2 Contractors ContributorPosted
  • Severna Park, MD
  • Posts 6,905
  • Votes 7,500

I have a 1 bedroom little house I rent for $700 per month , Tenants last 3 to 4 years , each time I have advertised it it gets bid up . The last tenant bid it up to $ 785 per month .