All Forum Posts by: Barbara G.

Most tenants are no problem.  We have to screen as best  we can,  We have to have regular visits to our property.  If we see a problem we have to be proactive and try to solve it

I think you have talked this problem to death.  You should just be going on  to the next step of selecting a property and then working from that point.  Right now you are just having a a problem in theory .  Its not like you are building a house you are just buying one. Try to select a newer house as it is easy to figure out what a roof  would cost or painting or a kitchen and bath.   Even home depot can give you a price on installing a kitchen or/and bath.  This is NOT brain surgery.   

Our first investment for the past 15 months has been 2 matching duplexes.  We are in and out of those 4 apartments for one reason or another and know everything that is going on there and that is ideal. When you hire a Property Managment company that is what I would ask about.  How many times are they going to look at the apartment (s) or house?  That should be part of your contract with them.   I would ask them to document that for me and text me pictures on their cell phone.   If you can contact your former tenants (and no a days that should be easy)  you can take them into small claims court.   

If your insurance claim has made you whole what more can you want?  You got rid of a slob and a terrible tenant.  You have learned your lesson, you are not out any money and you know what to do in the future.  Lucky You.  We should all be so fortunate. 

Flipping houses in your position does not sound like the best way for you to start.  Start with much smaller projects.  I guess everyone has agreed that no contractor is going to come over and do an estimate on your property just to entertain himself.    One is lucky to get them there when  they have been hired.

You sound like a person that has to know everything before he steps in well that's not about to happen here.  All you can do is take the estimate you have or can get and add some fudge amount to it and see if the deal works.  In the future perhaps you should concentrate on newer  properties that need less rehab.  Perhaps something with tenants in place when you can rehab slowly.  its easier to get a kitchen estimate then an estimate when every room has to be rehabbed.   The advise to join a Real Estate group is a very good one.  Maybe you should try to partner with a person who is very constuction savy for your first and second project and start your learning curve there.

I like it.  I would be very happy with it

May 8 2015                     11 days since closing:

$   150----------Gutters cleaned

      250---------Dumpster-----

    2,200--------6 Trees cut down

As you can see the Tree men showed up.  This has made a serious dent in our $30,000 estimated renovation budget.  I keep wondering if we really had to remove them.  After all they have been here so many years without falling on the house. Well removing them might give us some more parking space.

The drainage man is due Monday.  We want to change the slope of the  back so the water does not run into the house when it rains. We have cleaned tthe gutter which was half of the drainage problem.  Tuesday the electrician will show up.

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So far it has been very slow going.  The tree man has not shown up.  The electrician wanted a list of things we wanted done and we emailed that to him 4 days ago and he still hasn't gotten back to us.  We must work on eliminating the cat urine oder in that one bathroom.  We will  buy some products to work on the problem.  We really don't want to rip up that good tile bathroom floor to remove the plywood below.  We fear that the urine might have gotten into the plywood sub floor.  We have removed the bathroom vanity, which we think the cat used as a litter box, and we have ripped up the plywood beneath it.  At this rate we won't finish this an rent it in the 2 months time line that we have projected. 

I guess it would depend on whether it can be rented out as a seperate studio apartment.  Like a junior Duplex which it sounds like you might have been considering.

It Looks Perfect for a kitchenette area.  Have Home Depot or Lowes help you with a kitchenette design.  Ask a Plumber what it would cost to put in a sink with plumbing and ask the kitchen designer over at Home Depot to design and price out a Kitchenette High Bar unit.   The problem, about cost  might be putting a small bathroom with a shower in that lower level.   You have a door to the outside so you are half there.  Figure out what you can get for rent.  $650.00 might give you an additional  $7,500  year less expenses.  That should pay for the renovation in a few years.  

=======================================================================IiIs section 8 paying  your partner  $65.00 NOW?  She has no income Now

Is section  8 paying  your partner $750 a month or is Public assistance paying her $750.??  Either way her mother has to live somewhere?  Sounds like $750 might be for room and board.  Her mother hasn't stolen anything so this is not extra money we are paying  . We would be paying this $750, or more, for her  mother because it seems her mother is entiteled to it .