All Forum Posts by: Josh Bertolet

I'm house sitting for a friend for an extended period of time(year+) but not occupying the property. Any suggestions on weekly monthly yearly stuff to do while he is away? i.e. run water in the drains, flush the toilet, check sump pumps, clean gutters etc. that will keep the house in good condition during his absence. (renting the house in not an option).

Im kinda new to this business but before I bought my first property I tried to determine who my intended market was. Then I narrowed down the types of property I was interested in and where they were located. Being new I wanted to keep my properties in the same area. If I waited for a deal at 50% market value I would never buy anything around here. My single property right now has the 100/unit cash flow that mike is looking for but most of the multifamily buildings are just now coming down. I think I might find some of those killer deals someday but thats still in the future as I iron out the kinks of being a new landlord.

If the cupboard was a stock size you could've easily replaced it fairly cheaply. That center piece is called a stile i believe.

Is there a center support behind the stile? If not you can tack a small piece of wood like parting stop(1/2"x3/4") to hold the middle up same for the edges.

I like this one: Oms meeter

Channellock pliers are a must. Get a set of at least 3 if you can. They get more useful everyday.

Cordless anything is a plus.

I dont really keep a "landlord" toolbox. I keep a toolbox for different areas of a house i.e. electrical, plumbing, paint, drywall, window/door, etc.

In my area mo-mo leases are generally more exp than term leases as its more of a risk for the owner.

This may be a good reason to collect a 1st and last month on a mo-mo. If you choose not to renew you already have the money if they dont wanna pay.

I live in a college town so quite a few landlords esp prop mgt companies will rent a unit almost a year in advance requiring the deposit at signing and first and last months rent before the keys change hands. Dep is forfeit if renters change their mind. Almost all leases start abd end in early june/late may. If you move in oct its a 7-8 mo lease as well.

If you could it would cost an arm and a leg to prove it was them. There any number if natural causes for cracks in a patio. I would let this one pass.

You might try putting the water clock in a lockbox.

Some nailers have a depth adjustment. I know the bostitch roofing nailing has one. Many of the new models have it as well. It will drive the nail and leave almost 1/8 sticking up. They also make siding nailrs that might incorporate this feature.

It sounds like you kinda screwed yourself. Knowing what you paid on the prop yet still borrowing more than double its value knowing the bank was being rather stupid. Just because someone extends you x amount of credit does not mean you are obligated to use all of it.

I use a very simple formula to estimate if a house is worth a look. Rent potential(current rent is usually on the low side so it goes up asap) must 2% of the loan amount. If yes then it deserves a deeper look into the numbers and you can apply the more complex rules and formulas with fancy names.