All Forum Posts by: Billy Rogers

Is there an easy way to get a list of homes that have no mortgage? 

Nik,

You said "The building was trending between 27-55 CF's per month".  Did you get proof of this or is this just what the seller told you?

Either way if I was paying the water bill I would lock/remove outdoor spigots, put in low flow shower heads, and install low flow aerators on all faucets.

Hope you get it figured out soon.

I'm up for it.  

I'd like to hear more from @Dawn Anastasi , maybe from some large property managers, non-bp people, and more from newer investors

On Dec 15 I will have one of my three rent houses paid for.  It's a small 2 bedroom, but it feels good to get one paid off.

I'll mark that town of my list of potential places to buy rentals.  I think you have to have jobs for a town to survive. 

 It really is sad to see all those old building decaying.  I really like all that old architecture.

Does anyone have recommendation for a good property manager in Omaha?  I currently have one that manages a very large portfolio (over 2,000 units) and seems a little to busy to answer my questions.  I rarely contact them, but when I do, there's about a 50% chance that they won't even respond.  I asked them to put in an offer on a property 5 days ago and they haven't responded to two emails asking if they have heard anything back.  So I would like to know if anyone has a PM/realtor in Omaha that isn't too busy to even respond to an email a few times a year.

"$4500 Bay window replacement bill"

I would seriously look into some way of reducing this cost.

@Account Closed had a really good point - that you don't have to put in another bay window.

Thanks for pointing out that vandalism isn't covered.  That's something I wasn't aware of.  

How does a mold problem turn into a new roof, electric panel and tree trimming?

I'd get rid of the PM and focus on what the tenant reported first, not all the other stuff the PM came up with.  Did the tenant really complain about the roof and the trees?  If you know and trust the handyman then use him.  Just make sure he does quality work.

If the tenants are Section 8 and were already in the house, then it should have passed the annual section 8 inspection.  After taking care of the mold, focus on the Section 8 inspection requirements.  Your PM sounds manipulative by claiming you are putting all her other Section 8 tenants in jeopardy.  That's not your problem and I doubt that it's true.

Andre,

I did the same thing with my first house, had two roomates for several years.  I still have it as a rental today.  If you are struggling to pay the bills if one of the roomates is late with the rent then I would suggest two things.  One make sure your personal finances are in order.  Live on a written budget ( I used google docs for several years and use YNAB now).  I like YNAB's philosophy of living on last months income which is what i do, so there are no surprises.  Two focus on getting yourself in a position where you don't need to rely on the roomates payment to pay the bills.  I know this is easier said than done.  Research jobs that pay well and are in demand in your area.  I have a degree in finance that never really paid that well, then I switched to IT and the pay was much better.  My sister went to community college for two years and is now a registered nurse making almost 70k which is very good for the small town she lives in.  My point is the job you pursue can matter more than how hard you work.

Also, Gurus don't have any secrets.  You can find most of the information and advice you need on this website.

I wish you well in your real estate investing and welcome to BP.