All Forum Posts by: Chris Merchant

Welcome to Bigger Pockets! 

Do you already have a property in mind or are you looking for leads/ways to find foreclosures?

Some cities outlaw MTR/STR leases too, so there is always the chance that the city changed their ordinances since the last time the bylaws were updated so they just let people know about the change. But you could always just question them as to why they are giving you conflicting information from what their bylaws say.

Go buy window units for however many bedrooms you have and keep them stored away for next time, because there will be a next time and then you'll be prepared.  You don't need to offer every sqft of the building to be AC but at least give the tenants the ability to escape to a bedroom where it is AC, it is a small price to pay to keep your tenants happy.  They will be thrilled if next time it goes out you or your handyman show up and toss a window unit in each bedroom.

Not saying school isn't good.  But personally I think you will be better off reading different types of books and shadowing or working with someone else that is established.

Feel free to PM if you want to discuss different books I've read and found beneficial.

 Correct, I have heard horror stories though where the tenant will report an "ignored issue"  to section 8 and they will withhold payment and when you inquire why that is when you find out "oh the sink is clogged and the tenant said you haven't fixed the problem" and it is honestly the first time you've heard of such an issue.  I can't say that is exactly true but just horror stories I've heard.  It seems tenants that use section 8 seem to know all the rules and what they can and can not get away with.  On the flip side I've heard that if the tenant trashes the place and you notify section 8 before you touch anything and have them inspect it or show them video/photo proof they cover anything above and beyond the security deposit.  I am sure like anything there are some real crappy tenants and some really good ones.  

The guy I know that loves section 8 actually has a tenant that was section 8 when he got his first duplex and ended up hiring the guy as a handy man and has had him as a tenant and handyman for years now and helped him get off section 8 all together, so there are I'm sure just as many good stories as horror stories.

Best bet may be to try and connect with landlords in the areas you're targeting and see what experiences they've had.

Some people love section 8 as investors, for the most part the monthly rent is pretty much guaranteed, others hate it as they say it is a hassle with all the inspections and most of the tenants are less than desirable.

I personally have never dealt with section 8, though did have a friend that warned me to never get involved in it and had others say they only deal with section 8...

I would definitely at the very least notify your insurance agent that a dog is on the property!

 You could probably search "gravel suppliers near me" online.  It will if nothing more list companies / phone numbers.

What type/size of gravel are you needing?

What are you using it for?

Just bring everything you have for documentation.  I know where I am it is extremely difficult to get paint covered with a SD unless tenant abuse/neglect caused the need for the paint, you can't just use the SD to put a fresh coat of paint on the walls.

Ask your agent if a claim will increase your rate.  If it is something you can cover out of pocket that is usually the better way to go especially if the damage is only slightly over the deductible.  I know there is the school of thought of why not use it if I pay for it, but insurance is best used for major catastrophies.