All Forum Posts by: Henry T.

I was just thinking about this the other day. Daydreaming I guess. Cleveland. Section 8. If I was younger and really looking to expand this would be an avenue to investigate. You need someone like James Wise to chime in on this for management tips, if he has 2 seconds to spare. 

Cool!

 Ha! An alert would be great. My water company only pays a visit if you're not using water. Saw them on my security cam poking around, turning on outside faucets, and checking the street meter.  I called and asked what's up? They said they were concerned I wasn't using any water.

It's vacant but actively watched over, but using very little water. I had been busy doing other projects and this place was on the low priority. But still found it odd that they burn employee time for no water usage. Why the F don't they contact me when tenants don't pay their water bills? Instead of poking around my property when the water bill is fully paid?  Actually made me angry.  Grrrrrr.

recessed/sheetrock is a low cost, no brainer improvement that sells.

There's a lot you can do. But don't do it all at once because you don't know what you're doing.

First visit at least 50 houses. learn what you like and dont like about them. Then finally find a crappy fixer in an ok neighborhood that you feel has potential, that you can live in and rent out rooms. Put your remaining money on hold in a high interest account. After you learn a thing or two about working, fixing, repairing houses. Do it again.

I want an actual full credit report. 

Ive always avoided apts because I always felt the tenants are more transient. Whats a better market demand in your area apts or houses? Could you buy two SFR's with 300k and make the same cash flow? Less turnover, less tenants, possible better appreciation in the right area. I dont know where you are.

Definite no go.  Speaking for myself, half of the "no reviews" that I've allowed were less than thrilling. I now have a firm policy of no reviews, no approval.

If you wanna do long term, make sure you have a proper long term lease with all the bullet proof clauses. Airbnb won't protect you.  Since you often do month long rentals you probably already have this in place. 

Appeal the valuation with comps that prove you are overvalued. Or, consider leaving Cook county.

Don't call their landlord.  Move on. Establish better future procedures and enforceable protective language in your lease.