All Forum Posts by: Curtis Mears

Personally, it’s not as difficult as you may think (depending on many factors). I had 3 rentals while working full time. After work, I would go work in the house until ready for showing (houses were in good condition so not full remiss). For showings, I simply scheduled in the evening or weekends. Realize, all My properties are within 20 minutes from my house  so not much travel time. Very rarely are there emergencies, and having a few good contractors takes care of that. Assuming year long rentals (are obviously way more work), you should be able to work a full time job and still manage rentals. I think I could manage 15 or so properties if I had to with a full time job, but obviously need some flexibility in job and contractors you must trust. 

Either strategy can work. I began considering real estate after the 2008 market downturn, and started investing several years later. I like both, but real estate allows you to control your investments much more personally. Most of us buy funds for investments. This means you have an investment manager of the fund  buying stocks that are managed by managing teams. Your investment is not in your control. Real estate allows you to be directly responsible for your gains and losses. Make a good choice, reap the rewards. Make a bad choice, pay the price. 

People need to feel safe in their community as well as good schools, etc. If people don't feel safe, then those able to move will move. The trend in larger cities has been for less police and more leniency with criminals. Once this starts, the affluent will move, leaving less tax money and starting a downward spiral. 

I keep about 2x my max monthly expenses but this is probably more than necessary. Much of this would depend on your financial situation. If I was cash poor, then I would keep more in reserve since a large outlay could be catastrophic for the finances. If I was personally able to weather more, then I would not need as much in reserve. For 1 property, 5k should be a good starting point (depending on the area you live).

I purchased 3 rental properties and managed them while working. It’s not difficult to do for ltr. Once I got additional properties, I went full time real estate. I don’t know the number of units before you would have to quit work, but I would guess it is in the range of 16 to 20. 

Assuming you informed them the first time that if it happened again they would be responsible for charges, I would send the plumber bill to them.  I would also inform them that if it happens again, not only would they be responsible for the plumber charge, but also for the cost to pump the sewage. If you hadn't already told them, I would do that now. 

Tenant is correct. Putting tp in trash is gross and unsanitary. Either replace the toilet or, simply have tenant flush more than once. This is not rocket science. 

I have a new tenant who requests new cordless blinds based on the 2022 ruling from the U.S. Consumer Product Safety Commission. Does anyone have any knowledge on whether cordless blinds are required by law, or a helpful "suggestion"?

Sounds like an easy decision. Run your process like you would with any potential renter. If she does not meet the income requirement, ask dad to cosign. 

I do not see anything here I would charge a tenant. sinks will get scratched and unless there is a leaking hole, nothing there. As for the cat scratches on the washing machine, again, sounds like normal wear and tear. Personally, I doubt I would fix or replace any of these issues as no potential tenant is going to refuse to lease because of these issues.

As for the pet sitting, since they have moved out, there is no way to quantify how many days they were pet sitting so I doubt you have any claim. If this is the extent of your issues, then I would say they did a good job of caring for your property.