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All Forum Posts by: Arnie Guida

Arnie Guida has started 95 posts and replied 284 times.

Post: Another Rental Property! (This time a townhouse)

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125

I paid 55k per unit, you paid 16k, and we get the same rents.

I tip my hat to you.

I'm doing this wrong,

Maybe fellow landlords are right, I need to raise my rents.

Post: Tenant Applicants say the dumbest things

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125
My late fee is $40 after 5 days. "If we pay it 5 days early is the rent $40 less?" Maybe it isn't dumb, but I thought it was kinda phunny...

Post: New Record For Early Rent

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125

Just got a notice of a rent received... personal record for me, 5 days early, previously 2 days early.

Sorry for the inane post, it's a slow day, kinda bored...

Post: How many yellow letters do YOU receive?

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125
I get way too many. The insulting ones were after my Mother passed. I found them to be in poor taste, classless.

Post: How Many Keys Do You Give?

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125

A small item, I know. 

I give each adult one key for every lock required, Main entrance, and the apartment. One building has a garage, so each adult gets one key for that.

Anyone give two keys per adult?

Post: 50% Up Front

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125

No materials (paint) included.

It was to paint my personal residence, and he's done work for me before. I was at the job and paid him upon completion that day, even gave him a tip because of the good work. 

If this was his first job for me, I can understand asking for some money up front, but ask all you want, I will no longer give money up front.

I was insulted by the request for 50%.

My other contractors who have been with me for YEARS never ask for a penny up front.

No more money up front!

Can I get an AMEN from the choir?!

Post: Water & sewer bill increasing every month, what to do?

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125

The average quarterly bill for a 4plex in MKE is +/- 600, usually under, but a couple have been above. The city started adding other things to the bill besides water usage. "We've kept property taxes down!" Yeah, because you put the things that should be on the property tax bill on the water bill...bastards.

When I bought my first 4plex in '94, the quarterly bill was usually about $180. 

Quite a difference, innit?

Post: 50% Up Front

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125
Got a bid and the contract said 50% up front. I've got a nice place in a nice part of town, you've got...a truck, and I'm the one not trusted. That's funny.
Originally posted by @Account Closed:

Its not about what car you drive or watch you wear. Its about living within or below your means. I drive a fancy car, have a nice watch, take nice vacations and wouldn't want to live like many of you describe here. Life is about living. Accumulation of wealth is not a goal in itself. However, I have zero debt outside real estate mortgages (primary and rentals), save well over 30-40% of my Gross income each year. So nothing wrong with driving a nice car or having nice things if they bring you pleasure. Its only a problem when you can't afford them and get them anyway. I know people worth millions who still live in tiny apartments and refuse to take taxis and use buses because "its a waste of money". They are not happy people. From my POV, all their wealth is worth nothing but numbers in some banks computers. What is it worth if it doesn't improve your life? Im not saying consume for the sake of consumption. But enjoy life! Money comes and goes. Time only goes.

This!

Anish has it exactly right. There's nothing wrong with nice things if you can afford them. 

Wearing shoes out of the garbage? Really? Laying in your coffin, having had a 6 figure income and 7 figure net worth and living like a street person your entire life is beyond stupid. Have some self respect.

Many of us here are doing quite well, enjoy yourselves, within your means, of course.

The clock is ticking.

****************************************

"If you wait,

All that happens,

Is that you get older."

Mario Andretti

Post: Milwaukee Meetup - Sat, Oct 25th - How to build your buy and hold portfolio

Arnie GuidaPosted
  • Residential Landlord
  • Greenfield, WI
  • Posts 299
  • Votes 125

I hope to be there.