All Forum Posts by: Nathaniel Walker

Time & materials works best when you can monitor the time and material usage. If you cannot be there every day then install cameras and check every day otherwise it will not work. You can set up pro accounts with Lowes and Home Depot who will get your approval and release materials to Contractors and send you a detailed list. It only works if you check the materials list and withhold enough pay until a final accounting is complete. If you let either unaccounted time or missing materials go unchecked it will be a huge mistake. 

Both Home Depot and Lowes offer a pro account open to anyone that offers discounts on large purchases and ongoing discounts.

Just purchased your book for myself and my son who is interested in real estate. I have been flipping properties for years and have made a lot of money mostly by luck. I invest in Toledo and Detroit and want to get him started from a position of strength.

I had a similar problem that the closing company found 7 days after I closed but never told me until I tried to sell the property 3 years later. During that time they said they were working on it. The issue took 7 years to resolve with title insurance.  I was told that the title company was going to litigate it and it would take as long as it took which was 4 years. 

You may want to consider 

1. Send very short non accusatory communication stating just facts of area concerns. Indicate you are looking into added security measures but tenants are responsible to secure property and personal possessions including renters insurance.

2. Post signs on property that cameras in public areas. (Up to you if you actually do)

3. Install solar floodlight(s). Tenants will think they are cameras.

This will work only for a few months giving you time. 

You may want to consider 

1. Send very short non accusatory communication stating just facts of area concerns. Indicate you are looking into added security measures but tenants are responsible to secure property and personal possessions including renters insurance.

2. Post signs on property that cameras in public areas. (Up to you if you actually do)

3. Install solar floodlight(s). Tenants will think they are cameras.

This will work only for a few months giving you time. 

What about direct vent to outside or cheaper electric water heater?

Add a line to your existing cell service with a hot spot. Use the same power source for the camera to power a cheap cell phone. Hide the cell in a place only you can access.  Use a cloud based service to minimize streaming charges.

Any updates? I was following along and its like a cliff hanger for a series that got cancelled.

Hello, 

I am setting up a Zoom meeting for those expressing an interest in meeting. The goal is not to replace the regular Tuesday Toledo REIA meetings but to form a smaller subset of Toledo investors looking to partner to circle the wagons to benefit from each others knowledge. Details to follow shortly.