All Forum Posts by: Tami R.

I own a roofing company and do over 600 roofs a year. And even on my own roofs I would never roof over ever. Tear off the existing weight install. See if theres anything that needs to be addressed and install proper felt, etc shingles. And if you get a warranty it wont cover going over.

That's been the one challenge we have about 200 doors. I like to keep track of all my expenses per door so it's been a little challenging but we are putting together an inventory book. For example its costing a little but I am going to keyless door locks now once a property goes vacant. We have a master code, a code for our maint guys hvac, plumbers, etc and then tenant has a code. I buy the locks on my personal Amrican Express so I get my points rewards and when my staff takes a lock we just cut me or American Express a check so i class it to the correct house on Quickbooks.

We purchase a lot of everyday purchases like doorknobs, locks, fire alarms, paint brushes. Co2 detector etc at Menards. I feel like our staff are always going to Menards to get more and more and wasting time even when they dont try to. I have found Amazon prime has been an asset for us and I have been buying in bulk and stocking. Anyone else do this and if so share ideas on what are items that you stock at your offices and do you use Amazon?

I agree but if he pays the month and you get a tenant the next month you cant charge him in the state. I feel like the state of Iowa is tenant friendly state and you better be really promoting that vacancy.... you are 100% right it's hard to rent in Iowa in the winter. We are pushing houses and apartments now knowing we have about 5 weeks

Breakdown the last part for me... I am confused on the shorter ammortization part. $35,000 FIXED at 5.375 for 72 months. Fully amortized. I’ll finance all of the closing costs (doc fee, flood fee, mortgage recording fee, title opinion, abstract update for final title opinion). Monthly payments are about $585. Short amort on this one still has a debt service coverage ratio of 1.25 at $1100 per month and jumps to 1.82 at $1600 per month. Pays off in 6 years or less if you paid extra on it and frees up the property to be used in other purchases.

Buying a 4plex all 1 bedrooms from this older guy. 45k I am putting 10k down to my bank and my bank sent me an email and had the following offer... can someone breakdown the last section for me, I guess I am not familiar with shorter ammortization technology and how it works::;;; $35,000 FIXED at 5.375 for 72 months.  Fully amortized.  I’ll finance all of the closing costs (doc fee, flood fee, mortgage recording fee, title opinion, abstract update for final title opinion).   Monthly payments are about $585.   Short amort on this one still has a debt service coverage ratio of 1.25 at $1100 per month and jumps to 1.82 at $1600 per month.   Pays off in 6 years or less if you paid extra on it and frees up the property to be used in other purchases.  

I agree what has been said Along with owning rental properties we own a large construction company. Getting good help is hard and our company along with other reputable companies are so far back that when a landlord calls and says they are thinking about buying a house and they need estimates we honestly would like to help them but we need to focus on our customers that need work immediately. You could also look at a handy guy or a one many guy depending on the work but a 5 bedroom house might be a little bigger than what you want for the first one.

Depends on the Grade of the property and also where location is.... basement apartment etc. Basement also gets ceramic tile C D neighborhoods are tile or laminated wood Some elderly apartments have carpet and linoleum We still have bedrooms with carpet but try to make the kitchen and living rooms tile or laminate wood. Right now we are so behind in construction because of flooring

I live in the midwest and we get a lot of rain and I have a lot of properties. I tell all my tenants (unless I know otherwise) the basement is just for storage I am not really aware of floodings but if it's really important i.would put your belongings on pallets or off the ground. Sometimes 95% of the time I really dont know and i just let them know. I also know a lot of the issues are improper gutters or gutters needing be cleaned. In basement apartments I always install tile flooring in case of flooding and if there are drains I make sure they are cleaned professionally. Good luck.

@Tito Huynh. Yes.... I am not getting any other current episode on my app except 295