All Forum Posts by: Amy A.

Welcome! Get a job with a property management company to learn the business. There's plenty of work out there, and you can learn while making money.  You'll learn about common issues in rentals, how to deal with tenants, etc. Maybe your boss would even help you find a deal once you're 18 and can legally sign papers.  Most landlords are hard workers and will respect a person who works as hard as they do, without freaking out about cleaning nasty apartments.  

Here's another idea:  My son is in college and will rent a house with 8 other guys.  I thought the landlord might be crazy, but it turns out the rent includes weekly maid service.  What a great way to get someone in there to "inspect" and make sure these guys are behaving themselves and keep the turnover cost low!

After losing thousands of dollars in high water bills due to running toilets that tenants didn't tell me about, I insist on using Niagara toilets.  They cost around $150 and plumbing specialty stores sell them.  They don't have a flapper or any type of rubber seal that will dry out and cause the toilet to run.  The water fills a well, which the lever causes to dump in order to flush.  The porcelain is also glazed throughout, so crud won't get stuck in the drain.  Cheap toilets lack glaze in the drain and stuff builds up, causing clogs and overflows.  Also, make sure to use a big gasket/wax ring on the floor, not a cheap thin one.  A good one is only a few dollars more and well worth it to prevent leaks!

The difficulty with wholesaling in Maine is that the housing stock is so old that it's hard to get an accurate repair estimate. Also, neighborhoods vary so much that it's difficult to calculate an accurate ARV without a good real estate agent. Many of them send me "deals" that are completely unrealistic.

You can get around the requirement to have a license by assigning the purchase and sale agreement.  You aren't acting as an agent.  That doesn't mean that a disgruntled person won't accuse you of practicing real estate without a license, but the risk is up to you.

I wouldn't buy a property right on the tracks. I lived next to abandoned tracks in California, and there was a lot of crime because that's where people walk who don't want to be seen.

  I have rentals in Auburn where they can hear the train, and had one tenant in 13 years not renew because the sound bothered her.

It's good that you're considering all the factors that could effect marketability in your search. Good luck!

You're doing a walk-through on a holiday?  I like to set expectations up front that I work normal business hours unless there's an emergency.  I've had people ask in the past if they can go in and measure for furniture.  I always refuse because it's not a good use of my time.  You have to protect your time or they'll think of you as their butler.

I always do a quick walk-through with a checklist and write down pre-existing damage and an inventory so that I won't forget it later and possibly charge them for it.  Then we both sign and date it.  There is usually normal wear and tear from the last tenant, which I didn't charge them for either.  It makes the tenant feel better knowing I won't charge for every nick in the wall or little scratch on the floor.  I also run the water and check the drains for clogs and remind them that the lease says that if they clog it, they're responsible for unclogging it (they somehow always forget this).

Good luck and get used to saying "no", your sanity will thank you.

Hi, I'd like to resurrect this thread.  I signed up for paid advertising on Loopnet a few years ago, right before they merged with CoStar.  The sales person told me I'd have access to all the sales and listing data, which was a lie.  They tried to get me to pay more to access services I had already been promised, and also put me on auto-pay with no way out until my credit card expired.  

I now need to advertise a commercial space for lease and don't know of any better ways to advertise.  How has the company changed since the merger and what things should I look out for? 

I believe she could qualify for a 2 bedroom with Section 8 if she needs the second bedroom to house a caregiver if she develops a disability.  Also, to answer your original question, I have had a tenant for many years who was on the waitlist for Section 8.  They finally approved her and I had to do a ton of paperwork.  The apartment is a 2 bedroom, but they will only pay market rent for a 1 bedroom.  This is okay with me since she's a pretty good tenant.  Hopefully, the inspections won't be too much of a hassle.  

Also, beware that sometimes the housing authority tries to "steal" your good tenants once they get approved.  It's hard to compete with shiny new low-income government housing, even though my rents are the same.

Keep in mind, this all started with a small leak in the basement plumbing of a very old house:

Tenant reported she could hear a leak in the basement when she did laundry.  The leak turned out to be from drain pipes, so we called a plumber to fix it, $1145.  This didn't get to the root of the problem, which was a blockage in the main line.  Called a drain cleaning company.  They found a whole-house trap that the cleaning nozzle couldn't get past.  To get rid of it and clean the whole thing, $1500.  After this, the line was still clogged.  Found another damaged cast iron Y buried in the dirt at the back of the foundation.  They'd have to dig this out and replace it, so the bill went up to $3000 (interestingly, they think the line might continue to serve the back neighbors' property).  

As they were digging to get to the pipe, they undermined the chimney.  The chimney shifted about 4 inches!  There's a big crack in the part going through the living room.  This is now a safety issue.  We'll have to remove the chimney and repair the roof, attic floor, 2nd floor, and kitchen floor and walls.  

I think this should be on the plumbing company's insurance.  They should pay for a new chimney, but we will be fine without it because it wasn't in use anyway.  We just want it safe for the tenants. They say their insurance won't cover it and that ours should cover it.

What do you think?

I have a lot of experience with septic systems.   Engineering standards are typically very strict, so your 2007 house should be fine, but get it inspected anyway.  My problems with systems have mainly been with the filters.  There is a filter between the tank and the leach field, which protects the field.  If the effluent has things floating in it that would clog up the leach field, the filter catches it.  

The field is very expensive to replace, so you must protect it and not remove the filter, even though it's tempting because the darn thing keeps getting clogged.  Items that clog the filter include cat litter and coffee grounds.  It's very easy to clean the filter, but gross!  When the filter is clogged the water level in the tank rises.  This causes a back-up into the home.  In freezing temps, this back-up can freeze, causing even more problems.  

I have multi-units that share a system, so I can't prove which tenant caused the clog.  I've threatened to do DNA testing, haha!  The first floor tenants have an incentive to be careful because they get a wet bathroom floor if it backs up, but they are at the mercy of the upstairs tenants.  However, if I had a house I would make it the responsibility of the tenant.  If they flush it, they pay to clear it.  

Another thing, you need to keep the system, including the field, free of trees and bushes, so it must be mowed regularly.

As long as the tenants are careful, they will enjoy not having to pay a sewer bill!