Zenna Weis
Tenants broke water heater, do I have to pay to replace it
6 July 2024 | 10 replies
It did go out however with the propane out for over 2 months the soot build up due to an open air chamber or something similar.
Anthony Swain
House Hack Update
6 July 2024 | 11 replies
Lots of old properties where I'm at, so it isn't unusual to expect $10k+ of capex out of the gate for water heaters, putting in central air possibly, and other old property issues.
Roberto Falck
First rental property - market choice... do you agree?
6 July 2024 | 8 replies
I believe that successfully navigating this initial investment will pave the way for future opportunities, whether in the same market or elsewhere.Living in New York City, I faced a challenging market ;)I chose Montgomery, Alabama.Here's my process:I compiled a list of states with favorable landlord laws.Using Brightinvestor, I identified cities within those states where the median home price falls below the national average ($420k).I excluded cities with negative income growth and rising unemployment rates.I focused on cities with strong appreciation rates over the past five years (over 10%).I compared price-to-rent ratios.I did break two rules: Montgomery has a slight decline in population, and its largest employers are an Air Force base and government agencies.One significant factor that influenced my decision was the promising price-to-rent ratio, suggesting potential for positive cash flow (though I remain cautious about appreciation).Regarding my acquisition strategy:I plan to employ the BRRR method with cash.
Cherilyn Williams
Tenant with Late Rent Payment Twice within 4 Months!
6 July 2024 | 24 replies
I thought my tenant screening was air tight, but apparently not.
Pandu Chimata
Fire damaged property
4 July 2024 | 12 replies
This step must be done carefully to avoid further damage.Structural Repairs: Address any structural damage first, including the roof, walls, and foundation.Systems Repair: Repair or replace electrical, plumbing, and HVAC systems as needed.Interior Restoration: Once the structural and system repairs are complete, focus on restoring the interior, including insulation, drywall, flooring, and fixtures.Safety and Health Concerns:Air Quality: Ensure proper ventilation and air quality during and after the restoration process to remove smoke odors and contaminants.Mold Remediation: Check for and address any mold growth, which can be a common issue in fire-damaged properties due to water used in firefighting.Final Inspections:City Inspections: Coordinate with the city for final inspections to ensure that the property is safe and habitable.Fire Department Clearance: Obtain clearance from the Fire Department confirming that the property is safe to occupy.I hope this helps, best of luck!
Carlos Lez
Tenant accusing of lost items during room showing
2 July 2024 | 5 replies
A prospective renter would have to spend a few minutes rifling through her stuff to find the money and then leave her room in the condition she claims.
Alexandra Reeves
Air BNB BRRRR- best value add
2 July 2024 | 4 replies
Hello all, we are so excited to close on our first StR/ MTR that will be a complete gut job. The property is a 3/2, in a great family friendly area and very close to a commuter college. It’s in very bad condition righ...
Elton Tate
Do You Disclosed Locked Thermostats?
5 July 2024 | 19 replies
I've never had a temperature complaint because our system puts out so much cold air that most people (including myself, who loves AC) are freezing at 72 degrees, because the thermostat is upstairs so the system will come close to running non-stop at 72.
Brandon White
Family Inherited a House, completely new and I really need a someone suggestion here.
3 July 2024 | 14 replies
I tell her she should get a contract, which my mother tells me she can go to Walmart and get a contract and that will settle that, and my relative left his entire home furnished, so imo that makes more sense to air bnb but I’m not expert I’m wondering are there anything to look out for or avoid a migraine with?
Luca Giani
Seeking Advice on Property Management Issues for Out-of-State Real Estate Investment
3 July 2024 | 15 replies
If they're unwilling or unable to do so, take that task on yourself.Assuming you can clear the air, let them continue doing what they've done well for you in the past - property management.