All Forum Posts by: Blake C.
Blake C. has started 15 posts and replied 138 times.
Post: What can you do with $75,000 ???

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
Post: Trafficmaster Allure and Vinyl Wood Flooring

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
Post: Verifying Income

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
Post: Gas Stove Okay for Rental?

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
Thanks for the replies. One of my units had been converted from gas to electric before I purchased it. I just stuck with it since the stove was in good condition. I didn't totally see the reason behind it, but before I rehabbed this current unit, I wanted to think it through.
Post: Offering Discount for Early Renewal

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
Im saying turnover cost time and money... typically more than we like to admit. The advantage of doing an update is it could be an advantage to both the tenant and to me.
I wasn't talking about $100 a month. I was talking about a one time discount.
Im not 100% sure where I stand on the market. I guess its hard to know for sure, but my gut is that I am slightly on the high end when it comes to rents. i don't think i am high enough that they will leave because of that. I try to treat my tenants like customers. I don't just give things away for free or turn my eye to late rent, but I want to keep them loving living at my place. I provide a good product, may be a few surprises like upgrades and a discount for early renewal and everyone stays really happy.
Mostly I was wondering if I am the only one that thinks like this or not. Typically I hear investors thinking about limiting expenses. My thoughts here would be to spend a little on customer appreciation to keep the revenue stream flowing.
Post: Offering Discount for Early Renewal

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
I have middle income tenants in one of my properties. Overall, they have been good tenants. Clearly tenant turnover is costly (repairs, vanacy, work I have to do to fix it and show it). Have you ever considered giving a discount to having a tenant sign on to a new lease early? Their lease expires April 1st and I thought about giving them some kind of discount or incentive for signing back on a few months early.
I realize that the biggest reason why someone stays is if they like it, feel like its a value, and can afford it. By giving a $100 discount or doing some minor updates to keep them loving my place, I could save myself $1500-2000 in potential turnover costs. Or I could do nothing and hope for the best!
Post: Gas Stove Okay for Rental?

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
I have lower middle class rentals in Texas (rents around $900 for 3 Bedrooms). I am wondering if anyone has found that it is smart to convert gas stoves in old homes to electric. It seems that electric is easier to use and potentially less dangerous (no open flames or leaks). I realize that electic has its potential hazards we well, but it seems less. Anyone have advice here?
I am about to rehab another unit that will need a new stove. If I am going to covert, now would be the time.
Post: What is your #1 tip when buying from a wholesaler?

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
I think you want to be careful to check into some of the more hidden high item costs like electrical issues, incoming and outgoing plumbing... Especially the connections to the main. Often wholesales aren't lying, but they just don't know of the true condition of these items because of their short history with the property. This isn't really different than other situations, but to me it applies to wholesale situations more often.
Post: Passive income Ideas?

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
While diversification is good and important, it is also import to "invest in what you know." Im not sure where you found this magic 7 number, but personally, I would rather be a little less diversified and count of a strong understanding of a few different industries to allow me to be in the best of the best investments in each field I am in. Currently, I have a 401k of stocks, rental property, and a book publishing business about a topic I am passionate about (kinda of a hobby) thats al fairly passive. As I grow as a investor, I might look to add one or two different vehicles for investment, I am going to focus more on finding excellent investments that I KNOW are excellent, than just diversification.
Post: Looking to retire from landlording

- Investor
- Amarillo, TX
- Posts 139
- Votes 50
MF deals tend to be mostly about cash flow. Do you know how much cash it will through off each monthly after doing a conservative estimate for taxes, insurance, vacancy and repairs.
While you estimate that she is charging $100 over market for rent, have you figured out why? Is she actually keeping it rented? Do the duplexes offer a slightly better location, school, or amenity that "comps" don't? Is she experiencing a higher turnover because of this? All good things to think about.