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18 October 2021 | 53 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:Follow our "Deep Dive" series we're doing about Metro Detroit cities and City of Detroit Neighborhoods: https://www.biggerpockets.com/...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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16 July 2021 | 10 replies
Long story short, they decided to withhold their rent until they felt this situation was remedied (long story short this issue has been cleaned and closed) My question is, I didn’t know that tenants could withhold rent for certain issues.
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15 August 2021 | 8 replies
-After splitting lots off, should I sell the farm that has maximized the rents and been cleaned up?
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15 July 2021 | 1 reply
It’s gonna take several dumpsters to clean out and then it might have to make some repairs before listing it.If she’s not gone at the end of 30 days what are my options?
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19 July 2021 | 9 replies
Renovate and typically getting more money 2.Doing a simple turnover (cleanup/paint/carpet cleaning/etc) and pricing rents right at the current market rate.Overall, it will be most important to consider the specific deals you're looking at with regards to purchase price of the duplex + costs to get the units rent-ready (do you have to just clean them up vs. doing major renovations).
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20 July 2021 | 3 replies
Don't forget the cost of renovation, furnishing the house, and the amount of time you spend answering calls, booking stays, dealing with problems, cleaning, or whatever else is involved.It seems like a lot of money to spend for that kind of income.
15 July 2021 | 5 replies
I have a contract with an HVAC company that comes and cleans/checks out my units twice a year; typically at the beginning of "heat" season and the beginning of "cooling" season.
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18 July 2021 | 12 replies
NOT ALWAYS 2008 to 2012 cleaned many SMART investors clocks with billion dollar development and syndicators going busto .in a crash for sure those with Cash and not afraid to pull the trigger will do well..
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15 July 2021 | 3 replies
A couple of young ladies have been renting for 3 years and they are ideal tenants (they always pay on time, keep the apartment neat and clean, very reasonable with all requests etc.).
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16 July 2021 | 9 replies
He is in deep kimchi....However if (as I suspect) there were verbal COs and the contract does not match the plans, Etc, Etc.... then you are in trouble.