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All Forum Posts by: Steven Wiltz

Steven Wiltz has started 6 posts and replied 79 times.

Post: How much money do i need to buy some rental property?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

you sound like one of my tenancy applicants: I'm gonna get a good job/big check/judgment check soon. 

Course, MHs make me a lot of money, and they're cheap. Google "Deals in Wheels", spend the $30, & follow it. It'll change your life; it changed mine. 

There - I pissed you off, AND I gave you good advice

Post: Follow along - one buy-n-hold MH deal

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

There's this long time abandoned 2/1 70s singlewide in my favorite park. Rent keeps getting paid, so park doesn't worry about how run down its gotten; not how I'd do it, but that's another story. 

So after years, the lot tenant finally decides enough is enough. Wants out. (KEY FOR NEWBIES: motivated seller!) PM puts us together, and in the end, I get title. Seller wants time to pull out mementos, and besides, I'm on another project for a couple more months anyway. 

Fast forward to now: have a new roof, lot is almost cleared of overgrowth, and I'm 75% through initial cleanout. Video, photos, and progress are on Tumblr : steve-wa.tumblr.com

When done, this will rent for 850, minus 435 lot rent. Bought for -$840 (yes, they paid me to take it - it's a POS), 150 in back taxes and title transfer fees, paid 2200 for new roof, veg removal 400, 120 so far in dump fees. Park is not charging me space rent til done and rented. 

Prospective work list: probably 5 sheets of plywood for floor repairs, 5 or 6 windows (to get rent ready; eventually all will be replaced),  2 new metal exterior doors, some ceiling repair, probable complete replumb, all floor coverings, complete bath reno, new refr, exterior paint. And some other stuff I forgot. 

Post: Can eviction documents be sent to tenant's workplace?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

Rachel says:

"Most times, the court will be the one sending the documents. When you go to file, you will list all known addresses. Good luck!"

Untrue (though this may differ regionally): the court does not send anything. The plaintiff is responsible to serve everything, and if the defendant defaults or loses, it just goes on their record; there is no notification (hey, loser - you lost). Service is service; I've seen process servers camp at work, daycare, residence, friends house etc to find the defendant, and serve 'em when & where they see 'em. 

So the short answer is, yes. BUT, you cannot serve them, must be a 3rd party with no benefit from the outcome. Friend, process server, homeless guy with a cardboard sign... but not you, or spouse, or kid, or relative, or business partner (not in *this*business, anyway; buddy Joe in the next cubicle is ok). 

Post: Rent was due yesterday

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

the answer is a payday rent plan. Every other Friday (or every, whatever) they pay half the usual monthly rent, plus a premium (I add $15, equals a $30 monthly rent raise). Thing is, don't make it a date, make it a day. And, now the rent term is changed. Change your mtm agreement with proper notice (for your state; most are 30 days, WA is 20). Also, get rid of grace periods. 

They can pay ahead, always welcome. But rent is due Friday, 3 day posted & mailed Saturday. 

Post: What's wrong with this outlet?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

Oops. Rien

Post: How do you "harden" your rentals?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

I rent 2/1s for 850-900; 3/1s for 1000, 3/2s ~1200 

Post: How do you "harden" your rentals?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

I just read all 250 posts. This is good. 

To add, I own and manage my own MH rentals, so low to low middle. I use VCT tile on kitchen and bath floors, also at entry step offs, though sometime I use hardi & ceramic there. Also, FRP panels on bath walls. 

Hardened <mike drop>

Post: What's wrong with this outlet?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

agree with Jerry wein. 

Post: How Strict are You in Screening Tenants?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

develop a written criteria, and stick to it. No flexibility. Easy. 

If you feel you can't get a renter because you think your criteria is too strict, then change the standard. 

But don't flip flop. 

Post: What's wrong with this outlet?

Steven WiltzPosted
  • Landlord
  • Port Orchard, WA
  • Posts 80
  • Votes 39

omg you wussies. It's an outlet. Open the breaker, take the old one out and put the new one in, same places for the wires. Shut breaker. Done. 5 minutes. A frickin electrician will charge $95 just to show up. You guys amaze me.