All Forum Posts by: Michael Kuznetz

Quote from @Michael Dumler:

@Michele Velazquez, they're trying to sway you because they don't want to deal with the process of acquiring a new tenant. Even though that's their job, it's much easier/less of a hassle for them to manage the existing tenant. As unfortunate as it sounds, this is why many investors claim that you have to manage your property manager.  

 That makes sense.  I am so grateful to have you all to get advice from because that is what we were thinking but wasn't sure what their motive was.  I am scared they won't even do their job good and find a tenant.

My husband and I have 4 PadSplit homes. I haven't seen what they are advertising but there is definitely a much higher rent with them. 

We have more maintenance requests but usually for smaller items. Our traditional tenants handle small things like a light bulb out or running toilet but it's a something we handle for our PadSplit homes. There is more time invested but totally worth it for the increased cash flow

Quote from @Michael Kuznetz:

Quote from @Sam Leon:

Quote from @Michael Kuznetz:

Sink posts on either side of the driveway and run a chain between with a lock.  Use the post to put up the no trespassing sign and give neighbors the key if you trust them.  This does make the house more apparently vacant though.  If you have utilities on, may also make sense to pay for internet and have some cameras set up in and outside the house.  There are some solid options for exterior cameras that you can monitor that only need an internet connection.  You can power them via solar panels, they have alarms you can trigger and you can also speak/hear through them.  Wyze is a decent option for inexpensive cameras.

Due to the corner lot situation and having a driveway on each side, one being semi circular, that's quite a bit of posts to sink.  My other concern as you said is it advertises the house is vacant.  I will definitely look into cameras.  I know some video door bells are battery operated so I don't have to do electrical wiring just to install them.

Make sure you figure out how to recharge whatever you buy or get solar connections.  Cameras wont be valuable if they run out of juice when you aren't around to replace/recharge.  Make sure you have recording capability, preferably cloud, so you can have video to show if you run into any issues where you need to provide evidence of anything.  

I am trying to decide if I need cameras or video door bells.

It seems with cameras I can mount them higher up on the eaves out of reach and have a wider view.

if I do video door bells I can mount one on the front door and one on the garage side.  The view will not be good as a 270 or 180 camera mounted high.  But a video door bell has sound capabilities and I can say "hey buddy this is a private property and the police has been alerted please move along..." but then again, a battery operated video door bell can be easily removed and taken.

Quote from @Michael Kuznetz:

Sink posts on either side of the driveway and run a chain between with a lock.  Use the post to put up the no trespassing sign and give neighbors the key if you trust them.  This does make the house more apparently vacant though.  If you have utilities on, may also make sense to pay for internet and have some cameras set up in and outside the house.  There are some solid options for exterior cameras that you can monitor that only need an internet connection.  You can power them via solar panels, they have alarms you can trigger and you can also speak/hear through them.  Wyze is a decent option for inexpensive cameras.

Due to the corner lot situation and having a driveway on each side, one being semi circular, that's quite a bit of posts to sink.  My other concern as you said is it advertises the house is vacant.  I will definitely look into cameras.  I know some video door bells are battery operated so I don't have to do electrical wiring just to install them.

Your budget is going to largely dictate markets you can play in. With $130k you're likely looking at the Midwest.

I tend to favor Detroit because I now have 12-doors there, a super strong network, and a good friend that runs a turnkey operation on the ground there. You can't beat the cashflow in Detroit. And if you position yourself smartly, you can capture appreciation there as well as the city is going through a bit of a renaissance that most don't seem to understand and/or believe quite yet.

@Michael Kuznetz I would review your numbers and also dig deep for what your real goals are. Do you care more about a CoC return or not getting a loan. If you limit the Cash into the deal, you can increase your cash on cash return.

But like you need a team where you are investing. You can find the best deal out there and ruin it with a sloppy team, or you can find a ok deal with a rock star team and turn it into a great deal.

Best of luck and feel free to reach out if you want to talk about what is needed in a team.