All Forum Posts by: Mike Bell

Love this story. Thanks for sharing. It is s true you just need to get started. Sometimes that is the hardest thing. Just trust your process and go with it. It will all work out. Nice job

Grey is hot now. We are flipping out first house and using the white trim, White doors gray paint on walls. Exterior the same

Yes we are doing our first flip with a HELOC. Seems so easy. No waiting for appraisals etc. So far so good

When you are in the evaluating process of looking for new tenants in reference to income. I always want them To make monthly income of (3) times the monthly rent. Should that be taken from gross income or net income.

Property insurance seems to always be one of my biggest expenses. Most of my properties are replacement cost. The agent says the cost to rebuild is this number. Which is so much higher then I would ever be able to sell it for. However he says that is what they say it would cost to re-build if it burns down. For example a 4 plea that I could maybe sell for $200,000 he has then insured at 370,000. Is there any way around this. I have tried looking at actual cash value. It saves very little.

I have a tenant that lived at one of my apartments for 2 years. She was a single parent working a job and going to school. She struggled to pay her rent on time. She would get financial support for her schooling. She would more then once not pay her rent until her $ came in. Then she would pay in lump sums. I allowed her to do It and always wondered if she would really pay. She always did. However I never charged her a late fee. She has now moved. There are a few small repairs, would it be wrong, or would it be ok at the back end to hold some of or all of her deposit for those late fees. Or since I didn't say anything back when it was going on, I shouldn't be able to at the back end. What are your thoughts.

I love it that you guys have taken your time to respond to my question. It's obvious you all have passion for what you do. That is appreciated. The other cell store is a Boost Mobile dealer with (1) year remaining. Any reason to touch base with him if this T mobile guy develops. Or just let him find out. 

I have a retail center Mini Mall.  The center is full, with the exception of one 1850 sq ft space.  I was approached yesterday about the space.  He wants to open a T-Mobile ceel phone store.  I do have another cell phone company in my strip mall.  I checked the lease and there is no exclusive.  What are your thoughts on putting another cell phon business (competitor) in the same center.  My feeling it may help.  The guy tells me, he would rent a building 100 yards away just down the road. So he would be a close competitor either way.  Anybody have any thoughts on this.

Check into Vinyl plank flooring. Lots of choices. The wood vinyl plank looks very good. Practical. Nice high end look. Advantage you can replace planks and not entire floor like a sheet good. Check it out