Phillip Austin
Should I fire one of my owners?
3 January 2025 | 8 replies
.- Tenant submitted a work order for low water pressure in 2 bathrooms- Tenant submitted a work order because the garage door doesn't close all the way and left a 2-3 inch gap at the bottom- Owner initially refused to address either work order- Owner demanding the tenants place furniture pads on each piece of furniture- Owner calling multiple times to speak through the work orders, asking when they've been scheduled, calling a couple days later requesting the invoices- Owner calling because they want to access their storage in the basement so they can remove several pieces of furniture being stored- Owner now emailing requesting multiple property inspections throughout the lease cycle- Owner questioning my experience and relative PM knowledge because I'm not following up with her in a timely manner (the following day after the work order)Keep in mind, this is 2 weeks after the tenants had moved in and the tenants are very happy in the home.This is something we see on a regular basis.
Chris Kay
How Far Does $50k Go for Rehab?
15 January 2025 | 14 replies
Unfortunately I feel like a new roof is going to be pretty standard on the things I'm looking at so it might just have to get done on a regular basis.
Nilusha Jayasinghe
Property reserves and personal efund locations
15 January 2025 | 10 replies
I have my personal emergency fund stored away in a HYSA, and am working to build up a15k property reserve as well, but am conflicted on where to keep that 15k.
Kody Smith
Transition from SFR to Multi Family 10-20 units
6 January 2025 | 17 replies
Quote from @Kody Smith: without getting too deep into my finances, what my strategy is...1. take loans to buy properties (leverage)2. fix/flip for day to day cash flow income3. use some of the fix/flip income to buy consistent cash flow through:- business acquisition, - commercial properties (MF and store fronts),I have no intention of doing ALL of the management myself, I will hire management as needed (medium term goal)my expected core role is money provider, evaluating the numbers, making decisions, and connecting with investors, wholesalers, lenders, contractors, and property owners.while I am just on step 2 of the journey, I am looking toward step 3 to stabilize, and not worry about if house prices drop mid project or not (or not worry as much) So to be fair this is more about obtaining and growing a real estate business not simply buying rentals for cashflow.
Seth Williams
Alternatives to regular long term rentals, Sober Living or Group Homes?
29 December 2024 | 3 replies
I currently own a few properties here in Bryan-College Station, I have a full time sales job so try to stay as passive as possible. This is why I haven't done STR or anything. I'm currently only cash flowing about $10...
Bob Avery
Blow by blow of a REI newbie reading the STORE -> Best Sellers
20 December 2024 | 0 replies
Up until then I was cheerleading the earlier thought experiments about supporting lean/regular/fat income with ~$1000 / month per paid off SFH, thinking “I could bang that out in 5 years”.
Lorraine Hadden
Is online shopping causing the death of Malls - What does that say for Commercial RE?
5 January 2025 | 17 replies
There would potentially be some weight issues with the 2nd+ floors of some shopping malls, depending on what the potential tenant wants to store in the upstairs unit.
Chris Seveney
Getting A Deed In Lieu at closing to store away
27 December 2024 | 20 replies
There are gurus out there who will tell you when seller financing to have the borrower sign a deed in lieu at closing so if they stop paying you can just record the deed in lieu. Every attorney I have ever talked to h...
Joseph Hossenlopp
Minoan to furnish rental properties
15 January 2025 | 23 replies
They make ordering items from different companies easy, and you get discounts from each store that has partnered with them.
Bob Asad
How do you prevent co-mingling of funds?
7 January 2025 | 24 replies
I would venture to say very few landlords correctly hold their deposits based on local landlord/tenant law but as long as the money doesn't walk away and is not wrongly withheld from tenants its highly unlikely wrongfully storing the funds will become problematic.