All Forum Posts by: Sean Dawson

I know this is from a few years ago.  Just got a quote from Window World, thanks @Robert Ellis for replacement, double hung vinyl windows.  The quote came in at $400 per window, 6 months same as cash.  

Only problem is, they are 4 months out.  So there's that. 

@Allen Tracy it doesn't effect bookkeeping too much on my end.  I know what the units will produce each month and use that in my spreadsheets.  I like getting the money to me.  We have enough units that the other ones cover the 3 section 8 tenants we do have if there's any repairs or the PM fee.  Why they do it that way, I really have no idea.  I didn't really want section 8 tenants at first due to my own mental images of trashed units etc.  No of that so far thank God.  We just completed another 4 unit with Drey and told them to get it to Section 8 standards.  To me that is the way for us to go in this economy.    

For taxes our accountant handles that.  

@Allen Tracy Don't listen to James.  ERA is legit.  We use them and have used them for awhile here in CMH.  Wish they would have been in Cleveland when we were up there.   Our Section 8 comes to us as well.  I have had no problems with getting the payments directly.  

@P Baxter Hudson We just refi'ed 3 duplex's in our names.  3.62, 3.62, and 3.5  also just purchased a new (to us) 4 plex at 3.5  in Ohio.  our mortgage broker is working out of Kentucky.  

we own a 12 unit in CMH.  Purchased for around 500k.  taxes are 11,000 per year.  

insurance is 5400 per year.  Property manager is 10%.  We use guardian for water so unless they don't pay there is no cost.  We put 1200 into profit account per month (although it could be higher), 2400 into cap ex when we can (our old amount was pitufil at 250.  water is 675, but like I said, that usually gets paid back by tenants. total into ins/tax account is around 1300 per month.

Been working for us so far. 

I seem to remember @Brandon Turner sayying something about this awhile ago.  Cant remember the episode though.  From what I recall, he said he tried the primer and paint, primer mixed with paint, expensive paint and cheap paint.  All came down to the walls needed 2 coats of whatever.  Cheap paint was the way to go.  

yup.  get Guardian.  they can install the meters and handle the billing.  The bill will still come to you, or at least you will still be responsible if they don't pay.  

Uh, month to month lease?  Easy, give them 30 days notice.  Done

Absolutely worth your time and effort.  Well it was for me at least!  Paid an appraiser got some great comps and submitted it to the board of revisions.    Didn't even have to go into the hearings and they approved it with just the appraisals.    Even if it was a wash I would rather pay an appraiser or someone else rather than the government.

@Mark Shuter another vote for Kevin.  He actually walked my wife thru one of our properties while he did it showing her what to look for.  He said he would do that a few times and then we should only need to call him for the bigger stuff.