All Forum Posts by: Jonathan Wilks

A few things that you have to make sure the tenant has is a business license, and their own insurance policy to cover their business. If the property has a hoa approval might also be needed from them.  Where i live i had to get all so that i could operate from my residents. 

Costco reasonable price and they carry multiple sizes, phillips, and are dimmable. 

Thats Awesome! i seriously love the creativity. 

If you rent you should figure vacancy, usually 10% of rent a month, Property management usually 10% of rent.  

In regards to the sell of the home i would evaluate more of my long term, and short term goals and figure. what would work best for me. In addition on rather i would want to be a out of state landlord. 

Honestly those are not the kind of tenants i want personally. I just see that as a load of problems waiting to happen. I want tenants that take pride in providing for their wants and desires, and their own bills. 

I didn't see any accounting for property management.  I personally always calculate it even if i will self-manage. It allows me an exit strategy to eventually not be hands on. 

It would be the same as a reimbursement, It would also rank under income, but you will have the deduction for repairs. 

I would want to know if the utilities are metered separately?

I would also want to know if any construction has been done, and year built.

I try to operate personally as a benefit corporation. I want all to benefit from the transaction and business of real estate. when i flip i treat my contractors better than necessary by buying lunches and doing the little things to let them know i care. In purchasing distressed properties im trying to create a out for the owner that is less painful.  For the other investors i work with as a realtor i am trying to help them make wise descisons and sharing my knowledge. I think in real estate their is plenty of money to go around and view is from an abundant perspective rather than scarcity. It seems to be just a better method of practicing business and life in a mutual beneficial way. 

If it is for an investment property the average down payment must be 20%-30% to get the return necessary. I try to have that amount even for my residence to avoid PMI.