All Forum Posts by: Scott Mac

Yearly bank fees for each, aka choose your bank wisely.

 Hi Devin,

Have you ever considered that instead of America needing smaller homes that are more affordable, that America needs more higher paying jobs so that people can live the actual American dream versus having to settle for less and less and less (Has George Carlin pointed out in his classic speech about this). 

Just my 2 cents.

Get a second job. 

There are (3) 8 hour shifts in a day.

Look into getting a temporary job doing something easy that pays well.

Look into getting into a skilled trade as an electrician or a plumber

Work more spend less.

$10,000 might seem like a lot to you and it is to your circumstances but its doable.

Good Luck!

Agreeable grey with apartment tan carpet (or pet resistant tan carpet).

Location Location Location.

Good Luck!

Dynasty rescued the dog, it's good you were there.

Good Luck!

The way I look at it if you are open for business and you have a business line, and there are owner questions or issues that needs to be dealt with you should take the call and handle the business of the call.

It might be that this couple that owns the house is just getting their feet wet with having someone else managing the property and they want to get comfortable with your management style as being what they want.

Making such a hasty decision on two weeks worth of knowing these people as your customers seems like a rash decision to me, but I don't know exactly what's going on, and sometimes personalities just do not mix well together.

If it were me I would give them two or three months and respectfully answer their questions but also let them know what your ground rules are regarding taking calls and how you handle things - in other words be polite and also educative as to how you handle things.

Good Luck!

It will help a lot if you understand accounting and how the statements are actually generated.

Meaning what actually makes up those numbers how do they get on that statement.

It might help if you know what might be missing from those statements.

A tip would be knowing The number of doors you qualify for from a lender, And then looking at financial statements from places a little smaller and a little bigger.

Because looking at the T12 from a 100 units will be different from 20 units will be different from 5 units in some of the line items (account names).

A good strategy would be to start with maybe three T12's From approximately the same Number of doors in the same market your intended purchase will be.

And try to master those taking as much time as you need to be comfortable with it.

Maybe sit down with a good cup of coffee when you can really focus on it.

Good Luck!

Well Giacomo,

Sometimes you are the football and sometimes you are the foot.

That's just how life goes.

All in all - owning a place to rent to other people is a business, and business decisions need to be made based on that cold hard facts and not on an emotional basis, unless someone wants to quickly go out of business.

And like you say some people are more in the dark end of the spectrum when they run their business.

I have run into individuals like this in the past myself, and although it is painful for those who they press their ways upon it's best just to get out of that situation as quickly as possible.

Good Luck!

 This individual might have a furnace problem?

When the furnace goes down it goes down- it's more likely to go down in the cold weather than during the summer when it's not being turned on.

If you do not provide heat for this renter, will section 8 still send you your payment if the renter alerts section 8 that they have no heat and have tried to get you to repair it?

How many days or hours does your local section 8 give you to respond to requests like this?

It might be broken intermittently, I have had that happen on a zone heating system that used little computer boards and relays.

And as @James Wise said, You need to think about protecting your investment from freezing because broken pipes which can be very expensive to have remediated.

Good Luck!