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All Forum Posts by: Michael Clevenger

Michael Clevenger has started 15 posts and replied 99 times.

Post: Carpet to hardwood stairs advice

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Grant Lin

Ran into the same problem when replacing an all carpet home with wood flooring. Did the same research you are doing now and found that Lowe's carried a red oak RetroTread for about $30. The other idea was to build the staircase myself with material from the lumber yard. 

While the lumber yard would have been cheaper I was questioning my ability as well as speed. This was after all, my first flip. I was already behind my original schedule. Therefore, I chose the RetroTread from Lowe's and purchased the risers from the lumber yard. 

Regarding top of the staircase, I used a tread and then a reducer transition piece between the tread and carpet. Wood downstairs and carpet upstairs. 

Looking back or if I do a similar project in the future I'd save the bucks from Lowe's and invest the money in more time to build the treads myself. I say this due to the confidence built during the job. But in the beginning standing at the bottom, the stairs looked like Mount Everest! 

Attached are photos before, during and after. All work done in house.

Post: Hello from a new investor in Dallas!

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Justin C.

Welcome, sir! You appear to have the right attitude coming in. Personally cannot supply you with info (I'm a newbie) I can say that you are in the right place to receive it.

Good Luck!

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Wade Sikkink

Thank you for sharing your experience! 

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Joel Owens

"Like a yo yo" HaHaHa! 

Buying myself a job/ Think I'm okay with this as I'm willing to take on the task. 

The owner has held the property since early 2007. It consists of 16 units that to most on BP may consider small but this is a BIG step for me. I've got to start somewhere. The property will not take care of itself however I plan to increase my portfolio over time. Currently, I have the "I'ma" mentality (Jake & Gino show 182).  

This is all great information! Love it when others ask the questions!

@Mike R.

More research is always a good suggestion. Can you share your thoughts or what made you suggest this? Appears to be something there. 

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Michael Le

Not off topic, that's why I brought it up! Figured someone would comment. There is always a legitimate reason if you ask a renter. Realize that I have absolutely no problem with renters or the reason why they rent. As long as they meet my requirements I'm happy that they are renting! Most of the applicants for my Class B property have lived in Fort Worth area for years and have the job history to prove it. The reasons you listed are reasonable! Not one applicant meet your legitimate reasons. While we all provide housing, I'd love nothing more than to learn my current tenant is going to buy a property.

While working in the plumbing industry I had many coworkers whom rented. In conversation the main reason I found they did not own was a fear of being "committed" or "responsible" with a home. The committed ones always got me as they were all married. Most of these coworkers grew up in Dallas/Fort Worth and had no plans on moving. These guys also made 80K+. 

Perhaps, I think differently than most. I grew up with my mother and we moved every single year (minimum). Yet, my sister rents in Dallas then Austin then Amarillo and so forth. People will do what they feel most comfortable with. IT IS WHAT IT IS. Thank you for your words of encouragement in the topic of value add. I too hope this is the case. 

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Lindsay McLaughlin

Thank you for your support. My mind runs crazy sometimes and I can not help but anticipate a difference between Class C SFR and Class C MFR tenants.

Recently, I put tenants into my first SFR rental. Even though this was class B+/ I was surprised to find a majority of the prospects had great credit scores, great jobs and anyone of the candidates could have purchased a home VS renting. So why rent? Perhaps this confuses me because I've never rented. My father always taught me "It's not how much money you make but how much money you do not spend". Therefore I lived with family while working 70+ hours as a residential plumber until the age of twenty when I built my home (the SFR I mentioned above). The idea of renting anything above class C is a little confusing. Although I realize that many investors only deal with B+ properties I'll have to start with what makes sense to me. From the numbers I've ran it appears to be higher ROI in these class C properties and even higher if going into commercial MFR. Either way I hope to find the success that you have found with your tenants!

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Joseph Gozlan

Thank you for the information! As of now I'm in the process of getting the seller to accept the offer. I'll keep you guys informed!

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Zoran M.

This is a great strategy! I'm going to look up the requirements as well as code upgrades needed for assisted.

Thank you!

Post: Low income apartment. To invest, or to not invest?

Michael ClevengerPosted
  • Investor
  • Arlington, TX
  • Posts 99
  • Votes 29

@Joseph Gozlan

This is a class C area! Nothing bad just your normal struggling families and single men/women looking for affordable housing.

The 50% occupancy is due to poor management. The unattended units are no longer livable due to lack of maintenance. Out of state owner either does not care, know how or have the money to fix the complex. The owner pays a management company who occupies one of the units as an office. The management is a one man company who does not attempt to put any work forth. This property manager whom is also in charge of showing the property to buyers listed every negative thing about the property and owner while doing the walk through. I can only imagine what she has said to the potential tenants. Also, While doing the walk through the property manager received three separate inquires (two calls and one walk up) regarding renting a unit. All three where turned down before they even finished introductions.  

Understand, I am a newbie! I've done my fair share of research and believe that management is at least 90% of the problem. Being a newbie I'm scared that I may be missing something but do not want to let fear stop me from pursuing my goals.