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All Forum Posts by: Billy Smith

Billy Smith has started 12 posts and replied 701 times.

Post: Best places to invest for first time investor?

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

I second the idea go where you know the market ,I stay in my circle of knowledge of my home town I know  what rents are  etc...

Post: Mold in basement - what would you do??

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

You have a water issue that usually is simple to fix addressing gutters, cutting back trees ,haul in dirt around foundation .If it is a high water table then you are talking sump pump plus what I mentioned .

The whole process is based on rigid methodology of credit scores, past rent history on and on. Cost me $35.00 to have a 3 party do it.

Just found a gas leak in the gas pipe down by the furnace ,called the gas company they came out with the sniffer found a small leak ,I then fixed it .The renter should pay attention to their bill or report smells .

Post: Crypto has better growth and passive income over real estate?

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

Crypto money should crazy money meaning you can lose it .The up/down  swings are staggering don't use scared money .

Post: Can’t find descent property management in Detroit

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

More problems more money seems simple maybe it is .Any one willing to charge 10% with no add on for service calls jump on it . Older homes are going to need service calls then you have to shuffle all the fees for each service calls from the manager  not worth it!

Post: Do you include a regular rent increase in your lease?

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

I am with Jay I have it in my lease to raise rent every renew. I will not raise rent to get a few dollars when I have a good tenant. Lot of folks will move out over some small amount increase it’s that simple lose a good renter over a few dollars then roll the dice on a new tenant I will pass.

Post: Recommendations For Small Commercial Loan

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

That Zip comes to a small town North of KC Cameron, MO, West Keystone, MO whole set of different  metrics .If you know the market then pull the trigger .I stay in my bubble of knowledge jobs ,schools, rent ,how quick they will rent for how much .

Post: Independence MO, "dealbreakers" for prospective tenants?

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

It have a  rental that took  3 months to rent ,it may have been a tad on the high side so I lowered it .

The next door rental too like a hour to rent it was  early fall .

Zip code is #1 then Garage ,basement ,how big the bedrooms/closets  are etc...

Post: How can you evict tenants without the court system?

Billy SmithPosted
  • Shawnee Mission, KS
  • Posts 711
  • Votes 311

Depends on the tenant I had one who’s boyfriend left her she had no money.

I went to plan B; I paid a hired hand $100.00 to help move her plus I was there. I did a couple loads to a storage locker close by.

I then moved all her stuff in the front yard, took her a tour of the house make sure we were done then took the key locked the door.

Most people don’t need such help but she could have been a fixture just stuck there causing me issues with court costs.