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I have one rental property and want to 'manage' my fathers 3 rental properties as well since he has had nothing but problems due to him being too much of a nice guy and having gone through a quintuple heart bypass surgery and limiting him on how much he can do now. I would like to have a handyman to be able to fix and repair smaller maintenance issues. Ive never hired anyone before or know how much to pay someone for work like this. Any recommendations on how to approach this and how to choose the right one?
Ill try my best to explain the situation. So Ive only owned this property for about 3 months now. I am purchasing this on a land contract. It is a duplex and my brother lives in one unit and the owner's nephew in the other. The owner was a payee and handled the tenants social security checks (up until this month of August), so the rent was getting paid on time no problem.
The tenant was told last month by his uncle that he wanted him out of there since he had suspicion of illegal activities going on there (drugs) and did not want that kind of stuff going on in the house since his name is still on the deed. He's witnessed 15 people there at one point, with many of them asleep there in the middle of a weekday. My brother and cousin witness that random people are going in and out of the place.
Today me and my brother went in to fix a water leak. Right away I noticed that a couple was living in the living room with blow up mattresses and a child, another couple with a kid, and a dog were living in the spare bedroom, which explained the dog turds in the yard. As we were leaving another couple showed up, as well as 2 young girls who went in for a few minutes and then back out and yelled something at my girlfriend as we were getting into the car.
He is supposed to be out by tomorrow, his uncle has been wanting him for these reasons and I would like him out as well. I have no lease signed with him as he was already there when i took over the property. I dont think his uncle has a signed lease as well. Im not sure as how to handle this. Any advice as to where to begin? This is my only rental, as Im a wholesaler.
This is a true rehab project. This is a shell home with no plumbing, wiring, and interior walls. This was a project that was started by a rehabber with intent to fix and flip the property but had to move out of town so he left the project unfinished. All of the demo has been done, there is new siding and windows.
Exterior of the house is in excellent shape. In the process of getting keys to get pix and video of the inside to give you an idea of what is needed on the interior.
Im wondering if anyone has had with any success with doing direct mail to cash buyers? Just got a big list but not really sure as to what to do with the info.
I just went pro and therefore now have access to the investment calculators. Im a wholesaler and just wondering how accurate are the results on them? Any other wholesalers using them here? Also their output is very professional looking is there anyway to link to them from your own website or put the results in a thread for example if you have a thread in the marketplace?
Any recommended mail piece to send out next for the inheritance list? Any recommended postcards or letters to send next? Ill be sending them out on next week.
This house is a 4 bed, 1 bath with a powder room (small room with toilet) adjacent to the kitchen, 2 car detached garage, sits on a double lot, house is 1700+ sq/ft including the back addition which also houses the 4th bedroom.
Very light rehab needed: Carpet, paint, patch in the living room ceiling, could use a newer furnace/ac unit (20+ years old). Kitchen hardwood floors are in great condition. Roof is newer and still under warranty, home was very well taken care of by the previous elderly home owners.
Optional: Update kitchen cabinets, still in great condition. Update bathroom. Turn powder room into a half bath (toilet already there). Update the electrical, everything works great still.
Great Price at $40,000
Comps (South Bend, In - Erskine Park area):
1159 E. Victoria st (3bd/2bth/1690sf) $73,000 sold 4/9/2015
2739 Southridge dr (3/1/1202) $87,000 sold 3/1/2015
