All Forum Posts by: Thomas Oliver

It depends on state code. Google it. I know in Mississippi the ceiling has to be or you have to have a fire wall from slab to roof. Separating them. Now before I spent the money on that. I'd get another Aprasel.

I have to say. I bet you would be one of those picky tenants that expects the land lord to buy light bulbs. If you actually expect the tenant to pay for maintaining your property plus pay rent. The only way I feel they are responsible for this. Is if they where flushing stuff that caused it to back up. After you had it pumped.

I have all my units sprayed every 3 months. It cost me 10.00 a month per unit. I have a local bug guy that sprays and changes the Ac filters also calls me. When I have someone not taking care of my place. It's worth it. To not have to worry about bugs at all.

Well 2015 Has been a great year. We built a duplex and purchased 13 property's. Giving us 18 total. I have a awesome team. My wife is a big help. 2016 is going to be a pay of credit card debt made from. Rehabbing the buy and Holds. Not saying I won't buy anything this year. It's just going to have to be a sweet deal.

WELCOME!! I don't post hardly at all. I just read a lot. I am from Ms also. I have 18 rentals. I purchased 13 and built a dueplex this year. I live in the Mccomb area. Where are you located?

Find you a A/C that will cut you a deal. I just had a exterior pain and interior carrier 3 ton unit installed for 3200.00. I live in ms. This is from my regular Very dependable and trust worthy Ac guy. He is a one man operation so his working cost are lower. Here is how I feel about Ac repair. If it's old and going to cost me almost a grand. Replace the unit. Do to the fact it will save me money and head ache in the future. A new Ac is on average 20yr of service

The cost of cleaning and the cost of a flea treatment. From your bug guy.

It's a high possibility that it's not in a very good neighborhood. That's why it's cheap and has not sold.

Here is my opinion on the debt issue. I believe in leverage. Here is my reasoning. First you have to have cash to weather hard times. Minimum 3 months of payments on each property or loan. This is on buy and hold only. I know how long it would take me to save 50k on a 100k annual salary. With a family and life in general. I'm not willing to wait that long. I want to retire young. First no 30 yr loans for me. Only 15. My interest rates are 5.2. Here is why. 100k on a 15 year loan at 5.4. Is $46,122 in interest paid. 100k on a 30 year at 3.8% is $ 67,745 paid. So for the bean counters the higher interest rate is better for less time and usually easier lending rules. If you can pay a 15 yr note and expenses and cash flow 200 a month you got a good deal. Personally hope the market slows down a lot. That mean fewer people are buying more are renting. At the end of the day. Why gamble with your money? When you can gamble with someone else's?

I am building duplexes. We started with stained concrete for floors. I have seen many turn out great. My problem my guy did not do them right. They looked like someone poured motor oil on them in places. I laid a real good Vynle over it for 3500.00 To fix the screw up was going to cost 6000.00 They want 5000.00 for stain and seal 2000 sq ft. I'll keep laying the Vynle.