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24 December 2023 | 18 replies
We live in an area where the summers get over 100 degrees and you can rack up a large bill running the AC all the time.
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21 December 2021 | 7 replies
Its just outside a family beach resort and Ive been racking my brain on how I can operate the building either seasonally or short term and still utilize property management without operating as a motel where I have to be available 24/7.
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8 April 2023 | 7 replies
A water stain on a wooden table is neglect or abuse, not ordinary wear.
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7 December 2023 | 3 replies
You could rack up expenses really quickly with this method.
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30 January 2023 | 6 replies
The best part is that you pay all of your bills on your credit card, rack up the rewards then other people pay you back the balance!
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27 November 2023 | 12 replies
I would use a different rack then.
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27 February 2020 | 2 replies
(but this would still be complicated by the down payment)Any help is much appreciated as I have been racking my brain on how to make this work.
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4 February 2016 | 13 replies
At tenant turn over there are the usual things but his seems like there should be some schedule of having the property looked over for more than the usual carpet cleaning, painting, fixing doors or bathroom racks, etc.
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18 August 2021 | 21 replies
As many of the prior replies mentioned, it is simply more costly to operate a wood frame from a cash flow standpoint, so make sure you have a discount built in when purchasing it.I’ve personally renovated a massive wooden quadplex in Tampa and it is like peeling an onion.
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21 February 2022 | 11 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!