All Forum Posts by: Travis Lloyd

@Jake Kozul I'm glad to hear it. So you know, our 10 unit property has a 2 yard dumpster, and with just a few exceptions when someone is moving in or out, it has never been too small. Don't let them tell you that "based on their calculations, you need a big dumpster and emptied all the time" - just tell them you want a 2 yarder emptied weekly. About $80 per month

@Jake Kozul are you talking about a dumpster during renovations? Or a dumpster for the residents to deposit their trash on an ongoing basis? For ongoing tenant trash, we pay less than $100 per month for a company to keep a dumpster on one of our smaller (10 unit) buildings and they empty it weekly. Its completely headache free and much better than city services where trash bins need to be pulled to the curb for pickup. Unless you were referring to a dumpster for renovations - in which case just ignore my post!

@Steve Babiak I'm not sure why it only made 80% of it a link. If you copy the full thing and paste into your browser, it should start a download of an excel file. I just tried again and it worked for me (copying the full link - all the way to include "waterfall.xls")

www.exinfm.com/excel%20files/Cash%20Flow%20Waterfall.xls

This is pretty good, though it runs from static plug in data, but you could tinker with it to take live inputs from your other models. You would only use the one hurdle, but it will give you an idea. Assuming of course you have 24 months pro forma.

Yes just go to send space, upload the pdf file, and it will spit out a link that goes to that file. Again, it is only active for a set period of time (I'm pretty sure it is 7 days) and anyone with that link can access that file.

You could post the offer letter on dropbox, google drive, or any other cloud storage - make sure to set permissions to "anyone with the link", not just "everyone on the web". Then the cloud storage platform will give you a direct link to that item. Take that link over to tinyurl and it will spit out a little link.

With that said - I actually think it is easier to use sendspace.com - you upload a file and send a link (which is short) and that file is available for 7 days. It is not as good for long term, but its much easier.

Stop thinking like a realtor and start thinking like a buyer. You're a buyer looking for a 3 bed, 2.5 bath (colonial, cape, whatever the house is) home in a certain school district that has a (quiet neighborhood, urban feel, wooded area, whatever your house has). Then look around for recent sold homes that fit. It could be further away than you were looking, but the count of beds/baths, sq ft within 500 +/-, and house style has never been anything but conservative for me. If you're not planning on updating the kitchen or baths, try to find comps with equally dated but functional kitchens and baths. Don't limit yourself to the typical .5 mile radius (or whatever it may be in Missouri). Pretend you are a buyer and that is your home - then find three others that would be in the running for your purchase. Also, stop worrying about 90 days - go back a year, or at least to your area's 'selling time'. Here in New England, much more is sold during the summer and early fall than in the winter - so looking back over the winter period is useless. Adjust to your market accordingly - but don't be afraid to go back a year or even 18 months.

 You're giving the legal system WAY too much credit if you think they want anything more than a name to start the process! Best of luck!

@Devan Mcclish could not be any more right. Take that beauty down to a REIA and raise some capital. I would add 15% to your rehab budget though, as nothing would be worse than borrowing and then coming up short. You won't be able to go back to the well mid-project.

We had a really bad situation that was more than likely intentional animal urine spraying from the previous (evicted) owners. We had to remove all flooring AND sub flooring, as well as all sheetrock. Then everything was sprayed with Kilz oil-based primer, before new subfloor and sheetrock was installed. And it worked! Except for ONE closet where my lazy contractor thought he could get away with leaving the sheetrock. Had to go back and do that at the end of the job! Again, this was REALLY bad, so you may not have to go that far. Overall, Kilz original (oil-based) stops everything.

Also - don't forget duct work if it was already present. Any decent HVAC company can give the ducts a clean out.