All Forum Posts by: DG H.

Has anyone built their own 4 plex or larger?
Our RE business is in a small town (8K people, surrounding area adds up to 10K). The apartments in my town are all owned by the same family and there's two low income apartment houses. So what I'm saying is nothing is for sale. All the apartments are rented full.
Since we have a consturction company I was wondering if it would be profitable to build a 4 plex to start.
Anyone have any input?
Thanks for answering.

Thanks for the replies.
J & Rudy...why have your wives to get the license and not you? Is there a reason why it would be NOT in your best interest as an investor?
Is there any conflict of interest for an investor to have their license? I do know you have to advertise your deals are "agent owned".

When I first started investing (8 years), everyone said it wasn't worth the time nor effort to get your RE License. Too many drawbacks they said.
NOW...I'm seeing a lot of posts and many investors are getting their RE License. Why the change?
I'm thinking if money is short you can at least make a few buck on selling RE and if your buying and selling you get some perks on the commisions?
Any input or pointers yea or nay?
Thanks for answering.

I advertise in our only paper twice a week...facebook...oodle..home-flip and my website. Plus before any of this I have a big sign in the yard.

In my small Texas town $525.00 is on high side for a 2/1 frame with central heat and air, carport and fenced back yard. We have recently repainted and I stage all of my properties. I could go down in price but since my phone isn't ringinig...I don't think it's price. It must be the time of year (school almost out) or the economy?

Thanks to all for their great replies.
I will continue my rehab as my properties become empty and rent ready again.
I thought there might be a better way but as aggravated as I get with "some" of the tenant pool I have had and do have some very good tenants. It's good to come here and listen to those in the trenches with me.
Thanks again

Sorry, I wasn't clear. We fix anything that will be used by the tenant..that truly needs to be fixed.
In MY eyes after a tenant moves out..I think some of the rooms need repainting..even if the tenant was there only 3 months and we painted it before. They scuff the walls, leave scrape marks on the floor tile where they pulled the couch or something heavy. In other words we usually make it look as close to a repaint, rehab as we can. AND all they do is tear it up again. ...all the money, work and time..gone. I'm talking about this last tenant that had a one year contract and left in the night after 3 months...of course this has happened more than once in my 10 years of landlording. Just trying to get different views since I'm in a small town.
I guess I'm asking how much is too much redo for a rental compared to time and money spent.

I've wondered what would be cost effective in a working class blue collar rental when someone moves?...Fix all of the *little things* all bright and shiny hoping to get $525 or just clean and rent at a lower rent like $475.00.
I would love to have the extra $50.00 per month but whether they have a years lease and security deposit..they break the lease and the security deposit isn't anywhere close to paying for the "wear & tear" = damage.
Frankly I spend a lot of time and money making everything shiny and they just tear it up.
I run credit checks, call employers, past landlords and tenants just don't take care of my property.
I'm getting really tired of spending money on something they will tear up.
Any advice or ideas?
Thanks to all.

Do you use a specific wording about WHAT and HOW your property is clean and returned to receive their security deposit? As in....steam clean carpets, grass mowed,etc?
Any examples?
Thanks to all that answer.

The tenants just leave... Place in a mess..we drive by and notice they are gone. They never call. This has been happening a lot. They just know there's nothing we can do to them.
We keep our properties as nice or nicer than most. Frankly the last two that left we're single moms and we bent over backwards for them. One found a cheaper place and just moved out. The other decided to move back to the town she came from... No notice nothing.