All Forum Posts by: Shaun R.

I have my first rental property under contract and I have the forms that you get with @Brandon Turner's Book on Managing Rental Property.  I was wondering if anyone had any state specific lease agreements they would be willing to share.  Also curious to see rental applications that you guys may be using.

I'm an operator at an ASU. We separate the different components of air into oxygen, nitrogen, and argon and sell it. I've been daydreaming about real estate investing for years and finally have my first rental under contract. I'm not necessarily looking to leave my job, but it would sure be nice to have the option.

Done

So how's it going?  I'd love to hear the updates.

There are tons of flooded and gutted houses on the market since the big flood last year.  Have any of you guys done any rehabs on these houses and were they different than any other rehabs you've done?  Do you need any special permits or anything when it's known the house flooded?

Originally posted by @Dawn Brenengen:

@Shaun R. I've never seen a bank agree to do hardly any repairs or give allowances after the contract is in place.  The homes are almost always sold as is, and even lender required repairs were like pulling teeth to get done.

That's pretty much what I thought.  I was just curious.

I have an offer in on a house that has pretty bad stains on the carpets.  Can you typically get large, bad stains out of carpet or would you count on probably replacing it?  If it makes a difference, this house would be a rental.

I spent a little time as a real estate agent years ago, and I saw over and over again that during the inspection period the buyer would ask the seller to replace some flooring.  They would usually end up with the seller giving an allowance to pay for the new flooring instead of actually having it done themselves.  When buying a foreclosure, have you ever seen a bank do this?  If you go back and ask for something to be replaced, would they consider giving an allowance?

Originally posted by @Kyle Coleman:

I've seen both, but having one in the unit seems more common - at least in my area. 

 I'm sure having one makes the unit more appealing for potential tenants.

It is normal to rent a house that would require the tenant to provide their own refrigerator?  I'm looking at making an offer on a property that doesn't have one, and I'm trying to determine whether to include the price of buying a refrigerator in or not.  

I'm fairly sure that I've rented apartments in the past that did not include one.