All Forum Posts by: Austin F.
Austin F. has started 14 posts and replied 219 times.
Post: Supplies from one store or many

- Investor
- Michigan
- Posts 227
- Votes 479
I buy my paint from Sherwin, have a pro account and that cuts the price, allows charging on credit, I can get paint delivered free, they track projects and paint codes for years, and every now and then the store has tacos! I have an inside rep who answers all my questions, and will even come out to projects to make recommendations or usage projections. The pros don't use big box paint because if the product fails their wallets and reputations are on the line, they have a vested interest in using the right product.
As far as other stores Menards is hands down the best hardware store for people who know what they're doing, such a wonderful selection. I actually feel bad for folks who try and use a Lowes or Home Depot to do a remodel. That said I buy my appliances from Lowes.
I do not drive around town trying to save 2 dollars on paper towels.
Post: Renting out my home with an unpermitted bathroom

- Investor
- Michigan
- Posts 227
- Votes 479
Like everyone else said, depends who is inspecting it. Worst case is they fine you and you get legal then rent, best case is they give you the license and off you go. I'd roll the dice.
I would NOT operate an illegal rental, that's a MUCH bigger can of worms than a sink the city didn't tax you for.
Post: Tenant parking RV on the neighboring property

- Investor
- Michigan
- Posts 227
- Votes 479
What does your lease say about inoperable vehicles?
This could also be a police issue as technically it is a vehicle illegally parked. I would look into the laws around this, maybe call the non-emergency police number and ask what happens if someone illegally parks in your driveway as I feel this is essentially the same as a stranger parking in your driveway as far as the law goes.
Do your research then give the tenants a very stern talk with a hard deadline, and if the RV isn't out by 9a on that day have a tow truck standing by. One of those vulture impound guys will be more than happy to tow it for you.
Post: Experience/concerns with an older 1950 building

- Investor
- Michigan
- Posts 227
- Votes 479
My main concern would be giving any money to whatever agent took those horrible photos.
Post: When is it too early to list a rental property

- Investor
- Michigan
- Posts 227
- Votes 479
List as soon as you know it will be available. Set the availability for when it will be available.
I'm currently listing units for rent in May, great tenants think ahead. I won't do a showing without an approved application, I have an album of many high quality photos of the unit so this is rarely a hangup, especially in this hot rental market.
Once had a 7 hour vacancy. Old tenants left the place in great shape, I called the new tenants and said "The last tenants left the property move in ready, do you want to move in a week early?"
Post: Creating my unfair advantage

- Investor
- Michigan
- Posts 227
- Votes 479
It's not a bad plan, but realistically on your first full remodel with no experience it will take a ton of time, and after you buy all the tools, re-do a bunch of stuff, buy more tools, mis-cut everything, buy some more tools etc. You'll probably break even at best, if not have spent more than just hiring a GC.
The thing you WILL have in the end is a significant amount more knowledge about construction than most other people, which will make the next project higher quality, faster, and cheaper, but it will takes 10's of years to get "good".
If you think you can leverage this construction knowledge into something advantageous (you can), then go for it, but it will NOT be easy.
Post: GC cut of the profit on spec home

- Investor
- Michigan
- Posts 227
- Votes 479
"I did really well and couldn't have done it without you, here's a little extra to show my appreciation" Goes a long way, especially if there is a future with the contractor.
Post: Security deposit account

- Investor
- Michigan
- Posts 227
- Votes 479
Chicago is one of the cities that doesn't mess around. I would suggest reading the below links in their entirety, then setting up your systems to be in complete compliance. Call any of the big banks after reading this and they will tell you what you need to do, and if they don't know, call someone else.
Post: Virtual mailbox anyone?

- Investor
- Michigan
- Posts 227
- Votes 479
Does anyone here use a virtual mailbox or have one they can recommend? Part of my business model is being fully remote and I need a place for tax forms, bills, and the like to be sent, and reliably scanned to me.
I have researched a few, and reviews are all over the place. I don't mind paying more for something that is stone cold reliable.
Post: Mixed Sex Tenants in SFR, Good or Bad Idea?

- Investor
- Michigan
- Posts 227
- Votes 479
I prefer mixed sex houses, haven't had any issues. Be very upfront about the living situation and expectations, have a system for chores in place and if anyone causes drama of any variety deal with it fast and effectively.
Edit to add: Don't rent to a family and live in a room with them, that's just weird.