5/20/12 BP Newsletter: Pacing Your Investments, Increasing Profits, & Speeding Up New Deal Screenings
Hide thisMonday, September 21
How to fix double hung windows
This is a repair that I have very frequently in the properties that I own and manage. For some reason tenants like to cut the cords that hold these old windows open, and they also break with old age. It doesn't take much to repair them.
Material list
Step 1

The first step is to get the bottom window out of the frame. To do this, first gently pry out the window stop on one side of the window (red arrow). You will also need access to the weights if the cord has fallen inside the frame, so pry off the trim boards (blue arrows) while you have the pry bar.
Optional

You can remove the top window to perform the same repair by removing one more set of stops. These are located between the two windows and will pull out if done carefully.
Step 2


After the window is removed, you'll need to cut a piece of nylon rope. The rope needs to be long enough that the window can completely close, but the weight will only touch the bottom of the frame when the window is completely open. This can be tricky, but nylon is cheap.
After your rope is cut, tie one end into your weight (red arrow), then fish the rope through the roller, and tie a knot in the other end. The knot will slip into a groove or a hole in the side of the window, and should also be nailed or stapled in place.
Step 3
The final step is just putting the window back together. Use a nail gun to nail all the trim and window block pieces back where you took them out from. This very simple repair can save a home owner/landlord a lot of money. I've had people ask between $50 and $100 a window for this repair that you can perform in less than 20 minutes.
Monday, September 14
I am posting this mid-day, because I just got off the phone with a tenant.
Let me give you a little back story: This property is a 2 bed 1 bath (duplex) in the highest crime area in town. It rents for $350 a month, and the tenant pays the utilities. We rented to a lady (girl) who has a child, and was (claiming) to be leaving an abusive relationship. She asked for the basement to be cleaned out before she moved in, the cabinets to be replaced, and the carpet cleaned. She made sure we were aware that this property was "beneath" her
Our owner approved us to remove the trash from the basement, and clean the carpets. She was told that once she had some on-time payment history, we would work on getting her a new kitchen.
First month rent comes due, comes late, then we get a phone call the day she gets her 3 day notice: Her stove hasn't worked since she moved in, her shower is backing up, and she wants a towel bar rack and a toilet paper holder in the bathroom. The work is done, she pays almost all the rent. (She sent the plumber away at the door, saying we took too long)
Second month rent comes due, comes late, then we get a phone call the day she gets her 3 day notice. Moths ate her clothes and she had to buy a new wardrobe instead of paying rent. "What are [we] going to do about it?" "Well, darling, we are going to evict you if the rent is not paid by the end of the notice."
She calls the owner directly, and works out a payment plan before we can evict her. The day after she makes her first payment on the payment plan, her cabinets "fall apart" and have to be replaced. The work is done, a plumber is called back out because of a new "leak" in the basement.
Now, in our 4th month, she made her final payment on her "payment plan" 4 days ago, she still owes over $300 in late fees and rent (since one of her payments was not for the full amount). I get a call today telling me that the basement still isn't clean enough, and that we have been doing nothing but collecting her rent. She told me that she bets my place doesn't look like hers, and that since she is all caught up on rent, she wants her place done right. I mentioned that she still owed over $300 and she claimed it wasn't "rent." I also didn't mention that my apartment does not look like her because I actually pay my rent, and I pay 3 times what she pays monthly.
So I have a maintenance guy going out to bug bomb today, lord knows how or when I'll be able to get someone to clean up the basement the way she wants. I'm not doing it. You can't "sweep and clean" a damp dirt basement. She claims that she won't being paying rentuntil its done, and that she will be calling the owner and telling him the same thing.
I hope he lets us evict her this time.
End Rant
Saturday, September 12
This is the worst part of still working a 9-5; working weekends to achieve your goals. I miss the time with the family, but I truly believe it will eventually pay off.
I spoke with a Realtor who will be putting my last flip up for auction next month. He was optimistic about getting the reserve price. It should make somebody a beautiful home at a great price.
I also put in a lot of hours on our Section 8 remodel. This property was not at all ready for the inspection we had last week. We got the painting done in most of the rooms where the drywall work is done, and worked more on the drywall in the other rooms. This propery had a shower leak for a long, long time, and much of the plaster in the kitchen is crumbling and rotten.
Tomorrow will be more painting, more drywall work, and hopefully some repairs to the windows. Only a very few of the windows are opening with screens so far, I'd like to see a good portion of them working by the end of the weekend. One more week until my deadline.
Good night everyone.
Thursday, September 10
I'll introduce myself first I suppose.
My name is Marc, I am co-owner of JTT Properties, LLC in Indianapolis. We do property management, contracting, and investing. We currently manage property exclusivly for out-of-state investors, who have until now found noone that understand their needs, or are willing to put in the effort.
I decided to start this blog because I am a procrastinator, and I am bored with typing up 3 day notices and invoices for the night. Speaking with owners, I'm not sure they always understand what goes into managing rental property. We work hard for our small percentage.
Today I fielded phone calls from tenants and contractors. I posted an ad on craigslist for rentals, drove between banks with money for owners, mailed some checks, worked on a website update, and arranged repairs on 2 different properties. We managed to collect some late rent today too!
Being the 10th, I spent the last two evenings typing up invoices for owners, sending checks, and organizing contractors. I have a property that failed a Section 8 inspection this month, and they need it completed by the end of the month. We are redoing much of the plumbing, wiring, flooring, and painting the entire place. All the windows need screens and need to be able to open. Why do tenants cut the cord off the windows that hold the counterweights?
I have 3 tenants that are late on rent, and are getting 3 day notices tomarrow. We file with the court on the 15th. Hopefully they will get caught up, I fear they are confused with us just taking over new properties.
Anyway, I don't really know which direction this blog will take, I'd like to post how-to's complete with pictures (if possible) on home improvement projects, I will try to discuss how we deal with tenants, and the problems that come up. Mostly, I imagine it will just be me avoiding real work and venting.