All Forum Posts by: Billy Smith

My very first Tennant caused damage on purpose on the way out still was just dry wall holes easy fix.

I fixed it jumped back in the game, I have the ability to keep things right with connections and myself.

I do require rental insurance that was a good point.

What a rental will need on a regular basis is paint, carpet, minor drywall work.

That can vary with how hard she is rode.

I like the rentals that are $1000 to $2000 in a desirable area they will pay extra money for the location. If they ask what the rent is high, I tell them the truth you are partly paying for the location the other is size and shape of rental.

So, I have it when the old tenants move out the utilities are tuned off.
I keep track make sure there are no issues that can cause damage. The new tenants move in the utilities turned on.

You could turn off the utilities after the new ones move in say one week, doing your back ground check will pull up any unpaid utilities on the credit report if they have issues and moved in you now have a BIG problem.

I am in mindset pay it off, I did 3 houses that way, the rentals rent is all cash to pile up, invest in the market, ready to buy another A or B property, that part is huge for me appreciation on a fast pace i.e., location, location. I do and will take out mortgages too I will start to pay down the notes once I am in a happy spot which should be quick.

Some or lot of folks think debt is the way to collect rentals in C and D areas fast and furious as you can, if you have a hick up for a number of reasons that can cause the property to be unloaded on the buyers’ terms.

I have not read the response; the fridge has a defrost cycle that shoots water to the evaporator pan that sits on the very bottom.

The line is clogged that goes from the freezer to the bottom pan . First step you need to unhook the unit for 24 hours then hook it back up, you probably have a frozen the line going to the bottom pan. If not, your line is not connected right going to the bottom pan chase it down. This is my guess but not the only way you have water. Ice makers leaks is next but I am guessing you checked that from the get go?

I ended up buying  a tenant a new fridge cost 2K the only issue I found out was a vent that kicks out cold air needed replaced $20 part. I called the repairman he gave back the repair charge. I gave the unit to my brother he figured it out in few hours.

So, are your list of new tenants small? If so, yea raise the pet deposit plus you have the regular deposit some big dogs leave a smelly oil smell like in carpets make them have a rental insurance covering dog bites. The problem is everyone in the US has dogs we must adapt to this.

I have a terrier mix that moved in made them give me $300 more in deposit, plus rental insurance.

I gut rentals  from  the get go ,then I will eat all small  claims under 2k ,seems to work keeps the insurance as low as possible, I self insure carry a high deductible.

Correct this is a different animal the notes are based on sound fundamentals not phony make-believe stories like 2008.

They did not build enough S.F.H instead they built apartments, duplexes etc...so we have a supply and demand imbalance.

I try to have a close relationship with tenants and I do. I always ask is everything all right a toilet that moves around I would want to know about. I would let them know that I need to be told of such issues. So, moving forward they hopefully grasp the concept what is broken I should know because it can add up to thousands of dollars. My first tenant ever had a leaking kitchen drain that went on for months did 2k in damage I kicked her out.

I would discount it how much I would have to scribble it out. If I have to get them into a motel I would.

I would go over that day start demo that’s just how I roll. Then hire my handyman to put it back together and help him help him to get done quicker keep cost down, not always just depends what level of action this needs. This is an emergency so I would go to get it done mode ASAP!

I invest on the Kansas side burbs A and B class  it will cost more but appreciate  more  ,KCMO ,KCK can work too if you want to work that business  model .