All Forum Posts by: Janet Lancaster

Are you  as Property Manager responsible for keeping tabs on who is living in the house? This is the heart of the question.

Hello 

Bought a single family residence from a full  service company that rehabs houses and then manages. In the course  of responding to an emergency call from the tenant this week, property manager discovered co-tenant that rented in 2015 is no longer living there (OK) and that other co-tenant moved in his girlfriend and her 2 kids at some point, without notifying property manager. Is it typical for property management company to keep tabs on who is living at a property? PM has also done several maintenance tasks at the house since purchase.

Hi Mike thanks for your thoughtful reply.  Yes, we are going to close off that door to the hallway. There is access around the corner. 

Hello

What is the approximate cost for a professional to demo an existing turned staircase made of wood and put in a straight staircase against an existing wall? The existing doorway on  the  left needs to be closed off. There is another  access point to that hallway around the corner. Assume all will  be to code otherwise.  Thank you!

I am not an experienced flipper, but I wouldn't go near it with a 10' pole if I couldn't do a home inspection. The fact that the owner won't allow anyone inside is telling IMO. Good luck....keep us posted!

I have lived in San Diego since 1982 and bought my first condo in 1984, followed by my first rental shortly after that. I've have a rule about any rental property I buy: I don't want to have to carry a gun to the property if I need to go there to collect rent. Generally speaking, in San Diego, the only areas with single family homes that fit that 1 requirement are over $300,000. When you see SFRs for sale in other areas of the country for $50,000 that makes San Diego pretty unpalatable unless you have deep pockets IMO. Of course, the distance thing brings a unique set of logistical challenges.

Two years I sold a SFR rental I owned here that was netting $75/month after mortgage, taxes and insurance. With the proceeds form that sale, I bought TWO turnkey SFR in Birmingham AL that together net $1388/month after the same expenses AND a property management fee.

I am now looking to purchase a property in Gainesville FL to flip. My sister lives there and will check out properties and manage the renovation. That's how I chose that location and am just getting started on the hunt for undervalued aka distressed properties.

Thank you Michael. I am brand new and wasn't aware. 

Hello All

I have owned investment properties since 1984. Currently looking for a bird dog/property manager to find a single family home or duplex to flip. I have resources to purchase and rehab. Looking to start small with property ~ $100,000. Area not as important as discount opportunity and resale market.