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All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 651 times.

Post: Tenant long list of requests- How do you respond?

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Are some of these items legit? You don't see a broken light fixture over the stairs with loose and broken glass? If you do, you ask if it should be fixed? Did the tenant break it during move-in? Repair it and bill him for it. Some things such as LED light bulbs or rust are easy to see as you walk through completing a move-in checklist. The answer is "I believe you were aware of that before you moved in, I'm sorry but that's how the apartment comes." Others, like a thermostat, might take some time and I give my tenants the benefit of the doubt for the first month. After that it's going to be on them for the repair cost. Tenant has no motivation to perform the repairs correctly other than maybe giving his friend a job. It's your property so you pick the contractor and approve his work before payment or do-it-yourself. God forbid the tenant gets hurt while patching up your unit. If all else fails, release him from the lease without penalty and tell him you hope he finds someplace else where he'll be happy. The bigger problem is... you don't see a broken door lock or loose wires hanging from a range? Really? Rentals are all about durability and ease of maintenance, perform a fire/safety inspection every three months and check things out. Perform some active listening as you walk and make a list. Get 'er done and sincerely wishing you good luck with your investment.

Post: Foundation Issues - Need advice from someone that's been there

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Ask the folks who issued your permit, they'd probably like to see the work when it's complete. Speaking of insurance, ask your agent what he thinks and if he'd like some before and after photos. Best of luck with your investments.

Post: READY TO MARKET AS A WHOLESALER! NOW WHAT'S NEXT?

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Learn to find your own Lis Pendens on the Miami-Dade County Online Foreclosure System. Brush up on weather vs. whether usage, maybe your phone is doing an autocorrect. Sincerely wishing you the best in your investing career.

Post: Property management agreement

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

What does your lawyer say?

Post: Unpermitted Work/Alternations Causing Appraisal Issues

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

If the  town doesn't allow additional ADUs, how will the property modifications ever get permitted? If it makes your agent happy, today's value of this illegal, unpermitted very problematic residential construction is zero. The town might make you tear it all out and start over. I'd walk away from this one. Best of luck with your investment.

Post: What would you do or not do?

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Has any developer asked for any creative seller financing? Might be looking for a problem where there is none. Market your land and post the offers that come in for suggestions. Best of luck with your investment.

Post: Inspection for Distressed Properties

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

You'll have to learn how to do inspections and repair estimates yourself depending on exit strategy. There are several posts and books here on BP covering the subject. Websites like fixr.com and homewyse.com can help. Best of luck with your investments.

Post: student rental garbage issues

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Post a gig on Craigslist and get some high school kid to do it. Pay weekly after the job is done and invoice the tenants. Best of luck with your investment.

Post: Rentometer VS Zillow Rent

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Look at what the competition offers. Best of luck to you with your investment.

Post: In search of other calculator to analyze property.

Account ClosedPosted
  • Investor
  • Buffalo, NY
  • Posts 668
  • Votes 209

Look under Tools, there are spreadsheets available for download in the FilePlace section. Create a new spreadsheet each time you practice, take the best from each sample, and build something that works for you. 15 to 20 spreadsheets should give you the basics of what you're looking to do. Best of luck with your investing career.