4 February 2022 | 4 replies
If you’re strapped for time due to your w2 then perhaps finding a partner who’s active in REI would be a better use of your funds.
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21 February 2022 | 4 replies
Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!
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14 February 2022 | 2 replies
Thanks Mat, I was called out on interior and exterior.
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25 February 2022 | 4 replies
The first estimate wanted to use carbon fiber straps to keep the walls from moving further inward.
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14 March 2022 | 9 replies
@Mat O'Grady Yes they are, and if I move forward I'd plan on verifying all income and screening anyone I haven't already.Thank you all for the great responses.
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15 March 2022 | 7 replies
Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!
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13 April 2022 | 1 reply
I don’t know much about the ladder mat business myself but love going over business financials to discuss the risk and such.
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5 April 2022 | 7 replies
In the interim, strap in...rehab can be stressful.
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12 April 2022 | 8 replies
The motor is out in our rental washing machine, to save us the back and forth we are leaning towards replacing the entire unit but in the mean time do leave it up to our tenant to figure out how to wash her clothes, do we reimburse her for money spent at laundry mat?
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17 October 2022 | 6 replies
Me thinks this is not a good idea.Guide Section 4702.3 (freddiemac.com)United Wholesale Mortgage (UWM) CEO Mat Ishbia announced three initiatives for brokers at AIME Fuse on Saturday.