All Forum Posts by: Tyler Fontaine

Also, ask the Sherwin Williams/Home Depot rep or who ever what colors other contractors/painters buy the most often. The might have insight to the shades that aren't super loud and overpowering versus what you think might work best.

As a general rule, I find that right color on the wall is usually 3-5 shades lighter than the color swatch I like in the store.

Good question here. As you do more projects you will find colors and flooring designs that you find match well and suit the aesthetic the best.

That being said when we are doing unit turn overs and flips we are either doing grey walls with cool temp/grey style floorings. Otherwise we are doing lighter/cream/tan walls that match a warmer/darker colored floor. This way they pair together.

Whether you go cool or warms tones you want to be as subtle as possible with it. You want it to match. But, also you want the potential tenant/buyer to be able to envision their life/their stuff/their flavor of things inside that property. If you go to hard in one direction it could deter people from that type of aesthetic. 

Also you most likely will need a business bank account in the businesses name. Thats where the funds most likely will have to be seasoned, come from, have the check written from etc. Be sure to ask your lender about this.

Congrats on that my guy! Love to see it. You will be doing everything in the LLC's names. You will sign docs as yourself as a registered memeber/owner/etc of the LLC but the LLC is the entity buying, paying, holding financial responsibility etc.

Hey there, glad to see you're getting into the investing game! 

In terms of finding maintenance people its good to start by asking around who other investors or PM's use. You can check fb groups, your local REIA, etc to get these contacts.

Getting them on retainer is challenging unless you're evolved to a certain scope and scale where you can provide a large volume of work to them. I would approach it by building relationships with these people and having a solid 2-3 of each that you can contact as issues come up. This way you have options, can get multiple quotes, and have some flexibility if someone is booked out and cant service you immediately.

It's going to happen in the next 6-12-24 months

Very simple. Put them all onto one lease. They should all be held financially accountable for the ENTIRE RENT. At that point it doesn't matter who pays rent, through what account, or what ever. This creates a dynamic where they have to sort it out for themselves. It also incentivizes the tenants to pressure each other into doing the right thing.

This will alleviate a bunch of the issues on your end.

I would run numbers on allocating for a minimum of ones months on an asset like that. As long as you can cover it and get the cashflow you need accounting for 7% CapEx, 7-10% Property Management, and then 5-8% for repairs you will be in good shape.

Buildium, Appfolio, there are others you can find as well. There are some Property Management coaching programs that you can get into that will dive much deeper on things like this.

Buildium, Appfolio, there are others you can find as well. There are some Property Management coaching programs that you can get into that will dive much deeper on things like this.