All Forum Posts by: Andrew Kubik

Hey! Here are a few items to look out for:

1) HVAC Filters 

2) Pest control, especially here in the South

3) Gutters/water

4) Yard/lawn

5) Fireplace/Chimney 

6) Water heater maintenance 

7) Dryer vent cleaning

8) Door and window seals 

You're very creative! Congrats on your success :) 

Check out PMI Greater Nashville:

https://www.nashville-propertymanagementinc.com/nashville-va...

Hey there! There's lots to unwrap here. A few items: 

Advertising 

Zillow is by far the best tool out there. I wouldn't even waste my time with Craigslist or Facebook Market Place because the people there are as interested. You could also try apartments.com or HotPads. I would make sure that you get plenty of good pictures and even a video walk through. That way your tenants are likely more interested. 

Have all potential tenants over 18 fill out an application for on Zillow. Make sure they meet your credit score and income limit restrictions. I always check to make sure they don't have a utility bill in collections. 

Lease Structure 

You can make your lease with Zillow for free. It is a very helpful tool. I suggest at least a 12 month lease, and give a discount for leases that that are longer in duration. Vacancy and tenant placement will be your largest expenses.

Remote Management Tips

Use an online tool/portal to collect rent. It's a much better way to do things than Venmo. Have a handyman already in place. He'll be needed at some point. It would be a good idea to also have a plumber/electrician, but your handyman will at least be able to refer you. Have set processes for lease renewal and rent collect and evictions and adhere to these processes. 

California Specific

California is a tough place to be a landlord. Make sure you're following all rules related to rent control, evictions, security deposit limits and application fees. 

I would recommend TanDak plumbing. 

Sometimes you can get discounts by keeping all of your policies with one company, but sometimes you don't. I would probably keep my personal policies all with the same company for this reason. As for the policies on your rental units go with whoever is the cheapest.  Just make sure your limits align with the requirements of your umbrella policy.

You can certainly add improvements to your depreciation. Just make sure they are actual improvements and not repairs. Land value is subjective your appraiser and the city will have different proportions. Talk to a CPA and a/he will be able to work with you to maximize it based on your individual circumstances. 

Try PMI Elite Experience. They are great!

I house hack a duplex in Nashville! It's a great way to ABNB in the area. 

There are lots of rules on FHA loans. I'm sure you're lender will guide you. Refinancing of FHA loans does require a further drop in rates due to the upfront MIP.