All Forum Posts by: Shawn Wainsely

I own a rental property out of state in a college town, so I am utilizing a property manager. This manager has been a problem from the beginning. 

Now its December 20th and I have not received the tenants checks, she's blaming the post office and new PO box. I did not get communication about this until the 20th, I have no lease agreement for the current tenant, no communication, no rent collected. The problems are recurrent and at this point I think the effort I am putting into managing her could be better put into managing the property myself until this lease is up, then I will transition to a property manager in town that I have first hand experience with. 

To clarify, I know that things happen and I am generally fair and understanding, but when there are recurring problems, and no communication about it, this is when I have a problem. Specifically, there is no excuse for being 20 days into the month and having no sign of payment. I think a competent PM would have the lost checks voided and new checks collected, especially during holiday months when bank accounts can easily be overdrawn.

Other problems:

1. Could not get the house leased to tenants, likely due to poor communication. Now it is leased at below market rate to non student tenants. 

2. Poor communication with me, hard to get a hold o

3. Only collected half rent at the beginning of the month for November and the other half at the end of the month and did not collect a late fee despite us making it clear that the tenant will be charged with a late fee

My question is: Our contract does not have any wording for ending a contract, can I send her an email and letter via certified mail requesting the tenant file and to end our contract since she is not doing her job? Do I need to post 30 days notice of ending contract and begin managing myself for February rather than January?

Thanks in advance

Insurance policy is a great consideration that I didn't think about. Good idea with contacting other airbnb tiny house owners.

Also a good point on maximizing guest space, I would definitely pick one that allows at least enough space for a couple. 

Side note: Im not sure if you can multi quote on this forum so sorry for the multiple posts

Good point, building would be a great way to go but takes a lot more capital than I have at the moment. I have looked at modular homes, which would bring in more rent; still takes a bit more capital but not too much more and not quite as much as building a solid foundation home. 

Great and thorough answer, the dwelling size could be an issue. I know rvs are not allowed by zoning so that loophole which is the one most tiny house owners use would not be applicable.

Would love to hear your reasoning for it being a rotten idea, ignoring zoning issues and assuming setting up a tiny house here would be compliant with the city and legally be set up for utilities. 

Im not sure why the responses im getting are about not having utilities or drawing them off a second dwelling illegally. Im talking about legally having power lines run on to city's grid, connecting a main water pipe, natural gas hook up, etc. The property is not in the boonies, its on a paved road with houses nearby in an area thats already quite developed. 

As far as what is so hard about getting "real lower end house" goes im not sure what that means, do you mean building a very lower end house? Or going the manufactured home route (which I did think about).

As I mentioned I already purchased a nice home close to here. My capital is tied up in that home and I have a vacant property sitting there not being used and the demand for short term rentals decently high in this city, a concept tested by other 1bed/1bath small cottages. Seems like low barrier to entry compared to building a "lower end" home. Which, if I were to build a home on the property I think it would be worth doing right.

I should mention I can gain access to utilities without a problem, what I meant is that there are no utilities set up but I would without a doubt set up electric, water, and sewage with the city.

I'm not planning on building myself, and a nice tiny home seems to sell between $30,000-40,000.

I agree that a 4 bedroom house would be a better investment, but of course a lot more capital is needed for that. Not to mention, it is in an area where investors are already looking to build complexes, so I prefer to have something a little less permanent.

I will for sure go through zoning ordinances and check the legalities and requirements of course.

All good suggestions

Hi bigger pockets, Im a new investor. Just closed on my first property in a college area and hoping to have it rented out soon. Very excited to start this journey, now I want to explore another idea that Ive always had. Im looking for general advice, and unexpected costs you guys who invest in tiny homes have experienced.

I have one acre of land with no utilities in a college town that is popular to visit. I've always been infatuated with tiny homes and I think it would be a  great low cost way to have this vacant land bring in some income. The area is great and near downtown and near a university so I think the potential for airbnb/short term rental is great for sporting events, downtown visits, alumni/parents visiting etc.

Any fallbacks to having a tiny homes as an airbnb that I may not be seeing? So far the costs I have in mind is price of the home, drawing utilities, gravel for the driveway, etc. As well as checking local ordinances.

Please share and advice or warnings through your experiences

Hi guys, I lost my login info to my old account, so here it goes:

Im looking to close on my first deal, theres a big crack in the fiberglass shower floor right by the drain. Now my concern is that it hasn't been addressed in some time and it has leaked down into the subfloor and the subfloor needs to be replaced.

Can a proper inspection check for this, or how can I check the subfloor without taking the shower out?

Haven't made an offer yet, but getting ready to so I appreciate any advice from the more experienced!