Is the lazy landlord getting too lazy???

41 Replies

 :)thanks all, Ya your making me laugh. my husband said I was lucky they just didn't throw dirt over me and put a RIP sign above.

@Steven Maduro

@Dumitru Anton

Safety First... I would have made a great work comp case...

Originally posted by @Steven Maduro :

lol @ grumpy mentor 

She was the truth though 

 People in life are glass half empty, glass half full and glass always full.

Originally posted by @Steven Maduro :
My profile pic is my latest apartment 

 Nice, i see you go for modern finishes (something not seen much around ATL,GA)

Only one suggestion: knowing southern cooking, next time on top of the range make sure you put at least a 300CFM range hood (Asian style cooking grade, double fan, grease collecting features)

you may thank me later :-)

@ Deanna 

shame on him ..........

For being that funny 

You are so right about the rang hood

My budget is blown because I was definitely going to get something superman strong

I will see how this unit I bought works out 

I think it is 200cfm

Great topic.  I  run my Holding Company like a business, and when I had 0 houses I knew this was a business, now I have almost 20 very nice homes I am a  RE Businessman,  not a landlord or a property mgr, although those are some of my duties.   I do nothing, and shake my head at  my friends that do work themselves.    If you want to be a REAL  successful person in RE Investing, run it like a business and build a team.   Make decisions and learn how to use auto pay and bill pay.  I  have many months my  invoices go over 10 k for repairs, rehabs, checkouts, etc I do not even inspect the work, it can wait for the annual inspection.    I know this is why I am so efficient and systematized.     Find maintenance companies you can call for repairs, skip the GC's.   I would feel so backwards and  inefficient if I was doing anything more than changing an air filter, which I do not do.   I am a businessman so my AC company does that.   Namaste. 

@Tony Johnson 

You are spot on

With that 

I have one foot in that domain 

And the other foot in the save dollar and roll up your sleeves.

I'm at four houses currently

And I am really trying to save as much down payment money as possible.

I am building my team but have yet to get my mvps 

But what you are saying is the truth 

You get no arguments or whining from me .

"You need to behave today like you want to be seen tomorrow"

How do I follow you Steven? Your post is great to read and I love to learn more on the topic of what to hire out for and what to attempt doing the diy for. Thanks

@tony 

@Tony Johnson

When you say maintenance companies 

What do you mean? 

I just handled 3 simultanious rehabs as well, and it was a bit overwhelming... I hate painting, so I gladly farmed that out for the interiors and front / back porches and decks. I also don't do flooring; however, I handled most other things myself. As I go forward and find reliable members for my team, I will do less and less on each project until eventually I'll do nothing.

J.T.

The title caught my attention.  Josh Weidman of TurnKeyPhilly has a series with the same name .

Hmmmmm I wonder if I should have trademarked that name . 

@Deanna McCormick I can relate to you. Although I recently spent a day cleaning up a year and a half worth of big dog poop mixed with cigarette butts in a backyard, at this point in my career my time is better spent coordinating workers and making the big money decisions. Thirty years ago we used to do our own painting and cleaning.  

I use a Maintenance company that is also a licensed roofer. They take my calls 24/7.    If you call the bigger property managers you should be able to find one.     I set up commercial accounts with garage door company, an appliance co. that sells used, repairs, and delivers or moves appliances, and an AC company that is also 24/7 where I can call the owner on the weekends.      I use multiple landscapers and I am able to manage my homes easily this way.   I have never once used a GC since the maintenance company can do it all. 

Ok so the first house is completed

I opted to hire my own people

(Laborers)

I grabbed my normal

Go to guy who I have been using since 2012

I made him the foreman 

We hired two laborers 

And I had my foreman strategize how to coordinate painting an entire house ceilings and walls  three bedrooms two baths living room dining kitchen and laundry and hallway in two days.

My foreman had an appointment on day two so I took over coordinating duties 

All in all my cost for paint and materials was 350 I scored 5 gallons of oops paint form25.00

It was flat white so i used that for closets and laundry room

Labor came to 800

Total cost 1,150

Far below the 1700 cost I was quoted. 

And that 1700 quote was without paint so really it would have been closer to 2000

I was able to work on details like certain sanding duties and correcting or refining some of the wall prep.

This really suited me well

I think i painted one room 

At the end of it all

Thanks everyone for their suggestions 

Originally posted by @Steven Maduro :

I scored 5 gallons of oops paint form25.00

 I heard it trough the grapevine that on a non-busy day the painting fairy can magically change the oops-paint color to whatever your heart desire if donuts and coffee magically appears....

also may lead to calls about other oops buckets/gallons similar in color.....

lol if only this was true

Wait I believe I believe I know is silly but I believe.

I suppose if you catch someone on a good day

This white paint could have been transformed to just about any color 

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