Jessica M.
Single-Family Home near College Town
9 June 2020 | 0 replies
All bedrooms fully carpeted.
Tucker Cummings
Was my first BRRRR (kinda) successful?
11 June 2020 | 3 replies
I won't go into all of them, but the primary thing was that our kitchen cabinets were basically falling off the wall, the dishwasher stopped working after using it 3 times and the P-trap under the sink was malfunctioning, causing a constant water drip and massive hole under the sink - which they had covered up with a shelf and cleaning supplies.
Byron Kim
Central A/C issue, tenant not satisfied with repairs
7 April 2021 | 13 replies
If not, you may want to be prepared for a fight, especially if one A/C guy talked about unsafe conditions.Personally, I'd cut my losses and give a full refund of the deposit, assuming they comply with the other terms of the lease to clean the place and leave it in good condition.
Manasseh Arnold
VA home loan: who's the best lender?
21 July 2020 | 8 replies
Like anything, the 80/20 principle applies to lenders. 80%of them stink and do very little business while 20% are cleaning up.
Dimitri Paspalaris
CAPEX and Maitencance for townhome with HOA fees
11 June 2020 | 1 reply
Floors 10 years life span(carpet only 5), appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life span, etc.
Andy Eakes
North Park, San Diego California Bungalow
11 June 2020 | 4 replies
We patched up some holes on the side of the house, gave it a new color and coat of paint, and cleaned the yard up.
Precious Thompson
Buying an already low priced property
20 April 2020 | 2 replies
Once you know these things (or some of them), you can make an offer on the property (either with an agent or directly to the seller if you are into that sort of thing, ha), and then once you have an accepted offer you need to make sure the title is clean, the funds are in place, then you close on the deal and the real fun starts!
Daniel Hankins
Conversation for the future of humanity
22 April 2020 | 2 replies
We should instead work together to build a solution that ensures the moral support needed to get to a better place in life.I think the way the whole organization is structured will also provide another sense of accountability towards each other.Create a “Flip to Own” plan that lets future tenants be more involved with the initial renovation between occupants.Create a transparent “Monthly Operation Payment” that includes:An investment buy in (market value amortized over 30 years @ current market rate + .3%).Taxes & insurance (will also need renters insurance).Utilities (goal is to have a history of avgs, but will be paid as billed).Any cost associated with labor support for “Property Stewardship Guide” (basic cleaning and lawn care).Repairs and Maintenance budget (.1% market value, any expense related to maintaining current market value/ rent ready condition).Capital Expenditures- Major repair budget (.1% market value, any expense related to increasing market value and capital expenditures).Good neighbor assistance dues (.1% market value, covers accounting costs and assistance access).Create an app that makes monthly property management an easy habit.Pull information from Property Stewardship GuideIt keeps track of all the costs that determine the monthly payment, including utilities.It has a checklist of that months maintenance tasks, based on the standards of the GNA, that ensures the most effective life of the property.Have a portal to submit rent payments, using paypal or similar services.Build in an option to apply employee wages from the GNA as rent payments.Have a profile page with all the important dates and documents.Leverage these managing residents to build a coalition of labor support for the rest of the properties under the GNA umbrella.If they are all employees of the GNA non profit, then we can distribute benefits including healthcare, retirement savings, etc.Create a rolling pay scale:Offer work in exchange for equity ownership in other projects.When the current managing resident is ready to move, they can either cash out remaining repair budgets and equity, or leave their equity in and share the profits with GNA equal to their equity share.The managing resident will partner in the process of getting the house back to full market standards.Use the stockpiled repair budgets to fix their respective categories.Use built up equity if repair budgets don’t cover that cost.The remaining repair budgets will be applied as a direct principal payment.If the managing resident wants to cash out, then the GNA will buy back the property at the current market price.Both parties will pay their traditional closing costs if applicable.If the managing resident wants to remain an equity partner, then the title is changed to reflect that business relationship, and the managing resident receives monthly payments equal to their share of rental profits or interest payments of the next resident.Previous managing residents must create and manage their own LLC.If the previous resident has more than 50% ownership in the property, then they are in charge of managing the property.The monthly payment for the previous residents equity will be equal to their percentage of ownership times either the interest earned from the next resident’s purchase, or from the profits if it is run as a traditional rental.
Tim Andy
BRRRR - 2 Bedroom house with minor updates
27 April 2020 | 12 replies
. - 2 Bed - 1 Bath - Washer/Dryer - Dishwasher - Central ACThis was bought and needed to be brought up to date I added new carpet, paint, light and bathroom fixtures.