All Forum Posts by: Elise Hazzard

So the tenant complained at a recent quarterly inspection that the laundry did not drain well (washer drains into utility tub, then to sewer line.) plumber who came used "camera" down roof vent pipe and said there was a crack in cast iron pipe somewhere; charged for the visit and advised to call specialized pipe service to video to find crack. Video service performed and service tech said there was hole in bottom elbow where the sewer line connects under slab and they don't fix that but they could add pipe through the garage wall and continue it around house on exterior to meet the main line to city sewer. First plumber thinks it's going to be a big issues because the pipe is behind the hot water heater.  I can't find a plumber who is either experience at this and / or is willing to have the discussion   Several plumbing office staff were only willing to report on the hourly charge and the fact that they can't be expected to know what the charge could be-BTW they don't repair the foundation if they need to break it up.

Does anyone know if homeowners insurance is likely to help with this issue? Sorry for the improper use of any technical jargon here.

Again, any insight appreciated.

Elise

@ Christina Acevedo

I agree with Matt, but to get off the ground , perhaps first time out of the gate, you could hire someone, observe their process, but be involved in the final selection process? Getting cash flowing could be helpful in the beginning; but you need to do it carefully. Then you would have time to read the Turner's book on property rental.

Just heard of someone yesterday whose property manager put a tenant with ESA pitbull in newly rehabbed duplex. Second week there was a 2nd pitbull and by third week the other duplex tenant had a bite. Out of control and not uncommon. I have a friend in my city with that same scenario using property manager.  My friend had just left the country thinking her property was managed, until the bite victim call came.  There are ways to best practice methods to manage such cases.  No one is more interested in your investment than you.

Lots of moving parts here with a learning curve after the purchase. The forums are a great place to start.

Keep asking questions and reaching out.  Good Luck.

In Florida, it is often helpful to check city codes. That said, in larger cities, an STR may only be approved in one part of the city and not another (street specific) depending on proximity to a hotel/resort.

Obviously lots of due diligence needed. One cannot depend entirely on the realtor to know all the details; they are the sales agent, not the business partner.

I've met many investors who say the master lease is the tool to use but I have not tried.

Last month at a meet up, I found a man who vacationed annually in the Keys at an illegal VRBO.  The owner just repeatedly paid the (steep) fine and returned to business as usual few weeks later. Maybe the city liked that income and therefore didn't impose any worse penalties?

Just some thoughts to consider.

Good luck.

Others  on Mr.Landlord swear by "OdorXit'

I've not used it and am not affiliated.

Good luck

Hey Jesse,

Interested to know the address and what kind of insurance is currently on property.

send PM if you are still in need of financing.

Elsie

Kudos to you ...what a win-win-win.

Dad must be proud too!  This was not an easy start but a big feather for having vision.

Congrats!

Hello,

would you consider this a long term hold property?

thank you.

EFH

Hi Jessie

Can you provide some follow up to this post?

I'm seriously interested in the STR space... did this rehab complete and are you actively providing STR space @ the beach? Does your ins. agent that writes the commercial flood policy?

Any feedback appreciated.

@ Nathan Sharp, your retrospective assessment serves you well.

Kudos to you and your agent/life partner- well done!

You've earned your stripes on this one, which can be very beneficial if you ever choose to partner. Don't hesitate to brag :)

@ Sean Lunny, I agree completely.

Property class and amenity have a lot to do with price. Of course, supply and demand can help drive the rents also.

The data from all the sites might be a little soft if there are few rentals in a 1/2 mile radius, so it really helps to be objective when you compare your rental with others listed on various sites (zillow, trulia, hot pads, etc.)

Good Luck Jacob and welcome to the clan!