Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Peter Mckernan

Peter Mckernan has started 61 posts and replied 2336 times.

Post: How much do you spend to improve a property?

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

I really look at this at what is the basics verse the luxuries! The luxury items are brand new counter tops that are really nice, new shaker cabinets instead of painting the cabinets, recessed lighting verse one single ceiling fan and the list goes on... I say this all while I put recessed lighting in a couple of my new rentals, but this was due to the fact the places are built in the 50s and have not been updated since the 80s. I wanted to get the stuff updated so that it can run for another 25++ years.. For one of the SFRs on the lot we painted the cabinets that have been there since the 80s, and on the other one we could not keep the cabinet, kitchen layout and all due to it being built so long ago and never really being fully updated.. On this last one I mentioned we are also not doing the full nicest new shaker cabinets, we are getting them for 2200.00 with install of 800.00 verse other companies being at $5,000 for all this stuff. 

You need to take it into consideration of what to do and what not to go overboard on each and every deal. As Drew put it maintain the neighborhood. 

Post: As the owner, what to make of the tenant complaining that the manager is bad

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

I would say this is something that you need to assess yourself in proficiency, good/bad, and professionalism. If they manage a lot of units that you own and you are getting the same feedback then I would dig in more on the red flag, but if it is just one person/tenant I would not give any real deep thought into it. 

Post: Using AI for Maintenance Requests – Our Experience with Vendaroo

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

Nice this is a great data point for a new AI tool! There is another one I was told by a friend who is also a local PM and agent. He uses it with Buildium, and he says it's great. It is basically what you are talking about, gets a request and then schedules with the tenant on best day/time. Then gets that time/day along with request to the vendor, or repair person you have working. It is called Property MELD. I have not used it, but he gave it some great reviews and will look into implementing something like this for my property management arm in the near future. 

Post: Struggling to find investors — would love some advice from the community.

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

Meetups that are local, finding agents on Zillow and this website who are investor friendly, and property managers giving you leads on these people in the area are the best ways to do it. That is what I would do. These contacts will be the best source for your area to find the people active in the space in your area. 

Post: ? About cool roof shingles and Low-E Therma Sheet

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

Have not heard of it, and if you are unsure I would get some other recommendations from companies how this is working, what their costs are locally etc. If it is a huge cost as Mason mentioned I would say no. 

Better insulation is a great way for this to reduce the heat transfer, and I have seen companies and owners put a fan in the attic at the gable vent fan to blow out heat from the attic, actually my parents put one in years ago. Not sure the reduction on utility costs and all but just another option.  

Post: why would this happen in the garage?

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

I would prep the whole area, take off the old paint by scraping the ceiling and then prime it and then paint. 

Post: Live and Flip Financing

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

Live in flip? I would do as little down as possible to use the rest for fixing up your property. Also, that little down should also give you the payment you are comfortable with as well. 

Post: Fix and Flip in LA

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

I'm in Orange County, and I'm here to connect on flipping in SoCal and LA.

Post: Property Manager Pet Policy

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

Those are pretty normal on the charges for the range. I would suggest confirming if that is a going rate in the area for a non-fundable fee for $350.00 That is high as it is non-refundable. 

Post: Who in BiggerPockets flips houses and/or wholesales?

Peter Mckernan
#4 Rehabbing & House Flipping Contributor
Posted
  • Residential Real Estate Agent
  • Irvine, CA
  • Posts 2,392
  • Votes 1,195

When I find a deal I will flip it or wholesale it when it is off market. My main business is retail, but at times I will flip a deal or wholesale it.