All Forum Posts by: Nawzad Babiry

What is everyone using to keep track of rental expenses? I have been doing a excel spreadsheet one for each of my properties and at the end of the year I use numbers (app on iPhone) for a full year report. As I get more and more rentals I think I can afford to spend money on a easier way to keep track of everything. Let me know what you use and how many properties you have.

@Ryan Hazelwood

26 years old 3 rental units(1single family and 2 townhouses) started 3 years ago with the goal being 1 new rental a year. Thinking of selling the single family that I have about 100-120K in equity and buying more townhomes with that money.

How many rental did you have when you started to consider a handyman? And how much did you pay him?

So I have a tenant that had the sewer backup and cause water to spill in multiple areas of the house. So the day it happened I called the insurance and they sent out a company to tear things that got infected out and dry and clean the place. Took 3 days and I offered to put them in a hotel while the work was being done. They said they would sleep at there brothers house until it was fixed. I told them from the beginning that dealing with the insurance company to get this fixed could take months(ended up taking 1 month). I cut rent from 1750 to 1250 to make them happy for the 2 months. They would ask 1-2 times a week for updates and I would always update them. Never heard any complaints but I knew they wanted the work to be done so they could go back to using there whole house again. Once insurance sent someone out to look at and take pictures I sent someone there to start repairs instead of waiting on the check to come in. They were not happy that someone was coming to do repairs in such a quick time notice . They claim they are not happy with the work (drywall and paint)and refuse for the carpet company to come place the carpet. I’ve given them an out on there contract and told them they could find somewhere else if they wanted but they say no and they want to go to court. Not sure what court will do. But am I missing something that I did wrong? Also got called a slumlord which I think the stuff I did for them most landlords wouldn’t do.

@Shane Welch this might sound stupid but next time just offer them a couple of hundred bucks to leave the house and agree to cancel the lease. This saves you time and money in the long run and also saves you the headache. Lots of time if you do this it also prevents the person from ****ing up the property before they leave.

@Marcus House just a few questions.

1.how much is the rent increase per month?

2. Hopefully they are fixing maintenance problems by themself or going 2 years without a maintenance call sounds like a concern to me.

3. Why go up on rent on someone who has been there for 2+ years and is always on time and seems to give you no problems. Sometimes charging the extra money is not worth it.

Looking to get started in buying property in Louisville Kentucky. People who invest in the area who do you use as a property manager?

Hello all, what is your favorite website to bid/buy property.

What is the price of the cheapest house you have bought to rent and how much did you get for rent?

@Allan Smith one is a 115K property and the other is a 240K property.