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5 November 2017 | 2 replies
To condense the list to the important ones:New electrical wiring/PanelNew PlumbingWooden window frames are falling apart (termite damage)Wooden steps to back yard and 2nd floor units need to be replaced (termite damage)Flat roof needs maintenance (leaks)My Question is, where does an investor typically draw the line and say that there's too many repairs that need to be made?
21 March 2018 | 25 replies
My time in the military has enabled me to save and rack up some nice investments, which is what qualifies me for the amount I need in Miami.
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18 June 2022 | 15 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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1 May 2016 | 17 replies
I don't have any money saved because I paid my way through college and racked up $10k in credit card, of which in the 8 months since I graduated have paid down to under $400.
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4 May 2012 | 13 replies
Are you just factoring that the house will be out of commission for 4 months so you will rack up $2400 in utility bills?
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20 August 2014 | 8 replies
Most of my hope on this one hinges on the fact that the mother won't want to get dragged to court for an eviction for her irresponsible daughter, and the daughter won't want to rack up damage bills on the mother since she has been supporting her since she lost her job a few months ago.
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17 June 2013 | 10 replies
The client used this account to open a credit card, racked up $26,000 in debt, and disappeared, leaving my uncle responsible for the debt.
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15 August 2014 | 14 replies
Ryan,a rotted wooden window hardly dicatates there is mold present.
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30 December 2013 | 10 replies
I spent 8 years in college, and racked up an impressive amount of student loan debt.
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21 February 2018 | 15 replies
I would also try to expand my season. maybe build some 10x10 wooden sleeping areas and try to catch some winter short stay people.