All Forum Posts by: Michael Martin

While increasing rent I’d also like to add value. However, I’m currently undecided on whether I should remodel the bathroom or add a fridge, washer, and dryer or all of the above. The property is in Tahoka a small town of about 2200 people located about a 30-minute drive from Lubbock. It’s been rented since I’ve purchased in 2014, but my last tenant just moved out, and after cleaning up I realized how much I dislike what I’m offering and I feel I need to do better. Mostly seasonal wind energy/ oilfield workers, and seasonal school teachers have been previous renters. Sweat equity for bathroom to be completed by myself (10 year unIon carpenter in my former life in Southern CA) total materials $1091.84. The (3) appliances are $1645. With either optIon or all of the above a rental increase from $475 to $625 would definitely be in order based on current rentals in town with no updates. Thanks

@Paul DeSilva great news thanks for sharing.

@Shane H. Misery loves company; stay hme. Learn from it and move forward. Whatever the cost you got off cheap. Count lessons as well as blessings.

@Brandon Handel I too was skeptical and In the process of presenting offers on (2) properties at the time that looked great. I used the calculators and discovered my math was off and neither property would cashflow as needed; a penny saved is a penny earned.

@Corey Zant. Wise words that are all too familiar.

I’ve had a similar issue with one of my tenants paying on the 5th and I had to explain to them that rent is due on the 1st of every month. However, in the event of an emergency you have until the 5th before it’s late as a mere courtesy. On the 5th day at 5:00pm a $50 late fee is assessed and there’s a $50 late fee for all returned checks. Things have been pretty smooth sailing thus far.

1991 Nissan Hardbody 129,000 original Miles 2nd owner purchased at 80,000 miles. I love these trucks my last one had almost 400,000 miles.

Matthew Irish-Jones SFR’s in Monahans TX (1), Tahoka, TX (3), and I’ve been submitting offers in Lubbock TX, but so far no good. I’m resiliently committed to my real estate growth.

Thanks Josh Lewer; much appreciated.