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All Forum Posts by: Jim S

Jim S has started 17 posts and replied 243 times.

Post: The Top 5 Landlord Mistakes

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71
Originally posted by Bryan Hancock:
Nothing hacks me off more than having to flush these "low flow" toilets 4-5 times to get the stupid thing to work properly.

Don't you mean...."Nothing pisses me off more than having to flush...."

Post: Hardwood Floors - Stain Color, Finish Suggestions?

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71
Originally posted by Matt Horwitz:
I have my floors sanded and stained in a rental property. They have held up great for about 3 years, but now look like they need another coat.

Do you guys always go this route as opposed to carpet? Is the wood-look always the most cost effective?

Wood floors always look richer and more upscale in rentals but are not as durable as tile. If you go with wood, I would use a natural finish which is no stain, just a low gloss clear. It will be the most durable as the natural finish is least likely to show wear and tear.
As for carpet, assume you will need to replace it every rental cycle.

Post: Anybody notice this about messy tenants?

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71

Last one left me a large box of self help tapes (ironic), how to improve your sex life dvds(yuk) , and a new sofa(sold on craigs list...thank you).

Post: How do you handle tenants with pets?

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71

We use a standard lease that we download online from the county realtors association. On top of it I write in bold letters "no pets, no smoking, no daycare" and I have them initial it. If you think a dog is an issue? if you insurance company finds out there is home based daycare in the rental they will either double your insurance or drop you.

Post: Chinese Drywall

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71

It blows me away why we continue to purchase Chinese manufactured products; especially construction, food and safety.

Post: Which Payment Frequency Option is Best to Pay Down my Mortgage the Fastest?

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71

If I remember correctly, if you add 10% more $$ for principle reduction each month, you will pay off your 30 year mortgage in 21 years.

Post: Rehab Profits Now

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71

Our target is $40,000 on homes that arv for $180,000 to $400,000.

Post: Brand new- reno- doors and trim

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71
Originally posted by Eric Michaels:
Come on Jim, spring for new Satin Nickel hinges at $2 each instead of painting the brass! :-)]

I have always thought that satin nickel hinges were too industrial and painting the ugly brass hinges white softened the hardware. Plus $6 saving per door is a 6 pack of beer! For that matter, the whole house represents a great bottle of wine/ single malt scotch!

Post: Damn you Chase. Lost 2 payments this year.

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71

If it is an issue, why don't you allow your mortgage provider to automatically debit it out of your account?

Post: Hardwood Floors - Stain Color, Finish Suggestions?

Jim SPosted
  • Real Estate Investor
  • Virginia, DC &, MD
  • Posts 261
  • Votes 71
Originally posted by Michael Quarles:
The problem with minwax is that it's not a "hardwood floor stain" although the can says for hardwood floors. You will want to use dura seal walnut which is minwax's commercial hardwood floor stain. For two issues. 1) dry time 2) evaporations.

Evaporations?