Christina Merlo
[Calc Review] Help me analyze this deal
15 July 2021 | 2 replies
Mine includes roof, floors, hvac, appliances, hot water heater, exterior painting, etc.
Robert Murphy
Flood Insurance is Changing Things you should know.
15 July 2021 | 3 replies
This is a standing wall of water or a huge wave that is caused by strong winds and a rapid change in atmospheric pressure.5) Replacement Cost Value.
Alissa Laffer
Condo with high HOA due-good investment
15 July 2021 | 4 replies
One had a special assessment costing me 27k alone to replace all the water pipes.
Hannah Paitchel
New Investor Trying to Find a Market
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!
Christopher Alan Rush
Finding Deals that make sense
15 July 2021 | 5 replies
For example, I am working to help pro-foreclosure situation to avoid foreclosure and complete a short sale when they are deeply under water (yes this exists and is quite prevalent in many fha home buyers still to this day).
Michael Salamone
What can a tenant hold rent for?
16 July 2021 | 10 replies
For example, they can't withhold rent because the Landlord refuses to paint the house trim, but they could withhold rent if the Landlord refuses to fix the water heater or deal with a roach infestation.However, there are steps that need to be taken.
Alberto Nikodimov
Important Questions for Property Managers and Seasoned Investors!
17 July 2021 | 3 replies
.· Regular inspections and maintenance which save investors money and prolong the life of AC, appliances, water heaters etc.· Using great vendors who only go out once, complete the job and guarantee that if anything goes wrong, they will be back to fix it. · Better rates from vendors because they have large volume of work for them and get special treatment.· Quick turns when property becomes vacant, quality work at reasonable rates.· Saving money for their investors.· Providing great experience for tenants and realizing that a happy tenant is the key for a successful investment.· Help plan repairs and keep you updated on upcoming repairs in the near future.· Willing to admit they made a mistake and correct it.· MOST IMPORTANTLY - Manage the investment not just the property – maintain the asset in optimal condition, constantly increase cashflow, limit liability and avoid issues with the investment.1st Type of Owners/Investors:· Appreciate the work done by their property management team.· Pleasant to work with.· Treat the relationship as a partnership.· Extremely diligent in their initial search for property management companies.
Account Closed
Unknown Deferred Maintenance - How do you attack it?
15 July 2021 | 5 replies
And checking to make sure that box of 12 filters you left for the tenant actually contains LESS than 12 filters as time rolls on.You don't need a plumber to check connections but it's a good idea to check for leaks under kitchen/bathroom cabinets.
Zack Busch
Crazy Idea to Acquire, Flip, and Sell
15 July 2021 | 6 replies
Are you adding in realtor fees and also holding costs like insurance, electric, taxes, water and garbage?
Alexander M Stanton
Looking for Contractors near Gardner MA
16 July 2021 | 2 replies
Needs to be fully gutted and had both fire and water damage.