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21 May 2019 | 3 replies
It's a fixer, triplex needing a substantial amount of work (plumbing, electric, flooring, siding, landscaping).
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8 March 2019 | 3 replies
But here is a list of other items I came up with in my head that may or may not be possible to write off:Lawn care and similar (such as power-washing services)Home owners insuranceProperty management fees (tenant placement and monthly)PMI (don't have it but curious)Home warranty (and claim fees)Electric and water (while it was vacant)Are there any other possibilities?
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9 March 2019 | 19 replies
The building is over 100 years old, seems to have somewhat updated plumbing & electrical and seller claims roof was replaced in 2017.
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9 March 2019 | 2 replies
Fall & Spring HVAC Service Target Date: April and October This service can aid in early detection of costly problems and save the cost of expensive, emergency service.A/C Service Includes: Check condenser coil, adjust operating pressures, monitor safety controls and starter capabilities, clean or replace filter, adjust blower components, calibrate thermostat, measure for proper temperature differences, clean condensate drain, tighten electrical connections, measure voltage and amperage on motors, lubricate moving parts.
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7 March 2019 | 4 replies
Meet her and explain that the rent is increasing and she needs to clean up the apartment or she will need to find somewhere new to liveI had one of these in a 4 plex and it turned into a long drawn out eviction, where my guys moved her stuff to a storage locker, while I drove her around letting her tell me crazy stories (she is insane).Good luck!
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11 September 2020 | 41 replies
It took two months to get resolved and the tenant left the property so dirty I had to replay all the flooring..Including a nice bamboo floor, paint everything because the non smoking property was so gritted up from pot smokers, and strip and refinish the kitchen cabinets because there was so much grease on them it was like a rendering plant that had never been cleaned before.Maintenance — contractors can be contractors and the PM really do nothing to hold them accountableFollow up — they do not follow up on anything unless it creates revenue for them.
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10 March 2019 | 14 replies
Only do 1 yr leases... actually, I prefer M2M, but I understand we're in a different market.I say, do a small upgrade (ie: new light fixture, or change electrical outlets to have the chargers included), and then raise the rate something reasonable, $50 this year, and do the same next year, and the year after that.
22 January 2016 | 27 replies
Is it balanced and have the coils been cleaned?
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20 January 2016 | 13 replies
Friends also tell me that Auburn is starting to really clean up its act, after many years of poor neighborhoods and high crime.
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21 January 2016 | 19 replies
I put out marketing packages based on actual numbers because all experienced investors will do their own underwriting and make offers based on real numbers but this is hardly the norm.It would behoove you to look at IREM.org as they have financial information from local property managers in every major market and they'll give you the real numbers when it comes to the cost of repairs, water & sewer, heat, electrical, payroll and other information.Once you have this, you should start practicing underwriting deals with your own spreadsheet or one like RealData so you can learn what a deal will actually make versus what BS brokers put out to market.