All Forum Posts by: Robert Blanchard

To maneuver it in the Garage,  you might want to go get some large cardboard pieces from a Garage Door supplier or installer.  Lay it down and it will be much easier to rotate the roll around without having to keep rolling it.  I have moved some heavy furniture by putting cardboard underneath and then sliding the furniture on the carpet or floor.  Similar theory but the cardboard can stay in one place since might be able to slide the roll around on it.  If not just try two layers of cardboard and move one layer. 

I agree, the shipper should have some ideas on how to get the roll into the garage.  I will be waiting for the pics to be posted. 

I also like the idea of using pipes as rollers.  My father has moved Hot Tubs using pipes as rollers.  

I would suggest getting a Google Voice phone number to use with all of your Real Estate Business.   They are free but you have to sign up for a Google Account which requires an email address.  I use an address that I only use for Google and my RE Business.  With setting up custom rings you do not have to even look to know it is a call to your Google Voice number.

During regular hours you can have it forwarded to your cell or office phone.  Have one set up to just give a message to prospective applicants to email you answering the 5 questions in your ad.  Prescreening like that will help you from dealing with the people think that your $800 apartment will be rented to them for $650 since that is all they have for rent and they are "nice" people.  

I second the over the toilet storage shelves or cabinet.  Since neither are permanent, you should not have to worry about code violations.

When they moved in they should have realized that due to the heater location, there is no logical way for you to install a larger vanity.  

You could even put a second medicine cabinet (or storage shelves) on the wall left of the sink.  

@Gino Barbaro  Congrats on your success in RE.

I almost considered buying a unit of a smaller franchise pizza place in 1994 when it came up for sale.  The Owner was willing to carry with no down payment.  He just wanted to shed his 2nd unit but I thought it was priced a bit too high even with the good terms.  He ended up selling it for 30K less ($95K).  The new Owner did triple the sales in just over 14 months.  64 hour weeks were the norm for him.  I think he did eventually hire an Assistant Manager to cover some shifts.

Nowadays I would never consider buying a Pizza franchise unit due to the "$10 Pizza Wars".   I would like to get started in RE but I have to hold off for awhile due to health reasons. 

Ever consider Mobile Home parks?  My Father has owned 2 over the years and each one more than doubled his money.  Only storage units get more return per sq foot or acre,  and you only own the land and support infrastructure (office, laundry, pool etc).

In my area many Investors do offer cash and sometimes no contingencies since it is such a hot market.  

If you can close quickly with an all cash offer, you might be able to edge out someone that would take longer while finalizing a Loan. 

Do you have a team put together?  You need to know within a few thousand on how much it will take to do the remodel.   This way you can offer a realistic (for you and the seller) cash offer, allowing for a counter offer.  If they take your first offer, it was probably too high. 

Are they paying a late fee each month?   If they are always late, it shows poor planning on their part.  Renters should plan to pay rent, then food, then other items.  If they are unable to pay rent in a timely matter,  it shows that they have no emergency fund saved up.  If you get new tenants, you might not only get more rent,  you might get better tenants.   Or you could get worse tenants.  a risk you take by turning over the unit.  

If they give notice to move after a modest rent increase, you could always use the vacancy to paint and other things that will make sure that you can get peak rents for the unit.

I was tempted to look into Austin as my Nephew really likes it down there.   He works in the Tech Field and has no problem getting a decent job.   

How many years will it take Austin to redo or improve their road infrastructure?  Is there room to construct roads?  

It took Denver 5 years to get T-Rex done, the major highway and light rail project that was finished in 2006.  We still have some really bad congestion near downtown.  

House prices are creeping up to what they are in Denver.   

@Nina V.  Did your Attorney tell you if you have to accept applications from Section 8 applicants, or can you say that you are not approved for Section 8 and refer them to the Section 8 approved list of rentals website or phone number?

@Todd Moriarty 

What is the price point of your Rental?  How much competition is there for similar Rentals?

Have you considered including a letter with all comparable similar properties and explain the your costs (taxes, insurance, etc) have gone up and you have to pass that along to them?

If it is in the area that you are in, 85k population, they might realize that you are in fact being more than fair.

Since the Husband always raises heck, why not put them on a 6 month lease?  At the end of each 6 months,  you could increase the rent a small amount.  A $25 increase might go over better than a $50 one.   A caveat to that is that you would have to put up with them for a long time if they become problem Tenants.

What kind of improvements have you done to the property while the have been in there?   Is a Washer/Dryer included?  If so, go on Craigslist and upgrade the ones in there with a used set that looks nice.  The $250-$500 outlay should make it easier for them to accept a rent increase, and if they do leave, you could state that you have newer appliances in the property.

What kind of preventive maintenance has been done to the property?

Is his Leases inline with others in the area?   Would it be possible to slowly increase the rents to be closer to other Strip Malls?

@Patrick H. What kind of RE Experience do you presently have? What if you started managing his Properties for him for 1 year to find out what properties of his are getting a better ROI? This would free up his time while letting you do some research on what properties would be a better fit for you. If he is willing to do Owner financing, it would be easier for you to purchase a property?

How large is his RE Portfolio?  If it is fairly large, I would suggest to looking into getting a RE Broker License and becoming his Broker for his Properties, if there are enough of them the to justify doing this.  If you bought 4, and sold Brokered 10 for him, that would be a win/ win for both of you.