All Forum Posts by: Danny Polanski

I actually wasnt thinking of your own Dental Practice. 

You would be the landlord for another dental practice and maybe work there part time to stay below your target annual income.  And you would house hack in the residential section of the property.  Owner occupied. 

You know the dental area already so lean on that is my thinking, and will soon know the landlord area as well. 

I think I would strongly look into buying a mixed use bldg. 

commercial space on ground floor (dental practice) and residential unit(s) above. 

Wait. You moved from Texas to California?

For a good tenant I, myself, would and have painted colors they wanted that I was fine with.  Ask them a good weekend to get it done and you handle it.  You pay for materials as well.  It is not difficult to paint, just tedius. 

I say house hack with a 3-4+ unit building. You live in one unit and rent the others. 

I have everyone over 18 screened!

This is how I handle rent increases:

I text each unit this: i love you guys being my neighbor and I hope you renew. I will renew the lease at “such and such terms” for you guys. If you guys decide not to renew, I will market the property at “such and such amount PLUS this amount” thank you! 

Re structure the lease to the dates you both want.

Can you do it yourself? How long downtime do you want? 

Always get at least 4 bids with the exact same scope. I always write the scope myself. 

Good luck. 

To the OP- whenever I have an issue that needs repairing, I ALWAYS improve the situation on repair.

Meaning- now is the time to address these potential same issues from happening again.  Use pex, maybe replumb so its super easy to valve off and drain the system, insulation, heat trace, circ pump, etc.

Problems dont bother me so much when I have this mindset of, ok, now I get to improve the setup and it wont happen again (most likely). 

Good luck and get rid of that PM and self manage. Nobody will take care of you or your asset like you will!