All Forum Posts by: Jim S.

I prefer to keep my "investments" in good condition, make repairs and improve them. I want to get more money for them when I sell them then what I paid for them. I have good tenants right now. I want to keep them.

Exactly why I do all my own maintenance and repairs. It keeps the money in my pocket.

I have seen worse. No pic though. It was a house for sale not my rental thankfully. I saw the toilet full to the top of crap. And a 5 gallon bucket next to the toilet plume full also. It was in the winter and frozen so it didn't smell. It's hard to believe some people are so nasty.

How much would you have to net of the % of the total gross rental income to be considered a good investment. So if rent was $1000/month = $12,000/year how much would you have to net to be a good rental property? Thanks in advance.

If tenants are the good guys and landlords are the bad. Why do all the city water co. require a deposit from tenants to put the water in their name but they don't for landlords???

If you turned down anyone with a credit score under 650 in this area you wouldn't have anyone to rent to. People around here that rent have bad credit. That's why they rent. Banks won't give them a loan. Good for you that you have those kind of people in your area. Good luck. 

I have one of my tenants (duplexes) do the shoveling/mowing and nock off $50/month of the rent. Of course the lease states they are responsible for any fees/charges from the city if the city has to do it. Or if I have to do it I charge $35 each occurrence. I only had to revoke this "privilege" once, fortunately it was a verbal agreement with that tenant. And I got rid of that tenant shortly after.

I use a one year lease the first year. It begins on a specific date and terminates on a specific date. The next year I sign a new M2M lease for one year that starts on a specific date and terminates on a specific date. That way I can change anything in the lease that I want. I am always looking for updates on my leases from ideas on here and anywhere else.

I have gone to semi-gloss also. Lasts longer and easy clean up. Two colors, white in kitchen/bath. Light tan everywhere else. Keep the left over paint for easy touch up. I use Menards window blinds, $4. Nail holes and small dents in walls, no problem. A little drywall mud and touch up paint.

The only co-sign experience I have is a dad wanted to co-sign for his daughter because he knew she wasn't responsible enough to handle an apartment. She was completely irresponsible. Not anything like a last year college student. Any time I have a parent contact me or be involved in "helping" their little Johnny get an apartment it's a HUGE red flag. I always go with the best applicant. Waiting for the better one take patience.