All Forum Posts by: Justin R.

@Viktor R.

Thanks for the share! I'll check it out.

I decided to go with a bookkeeper who specializes in QBO. This frees up my time and minimizes the risk of mistakes.

Would there be an option to know how and where that bandwidth abuse was coming from? If I offered 18 different user passwords perhaps the router could track who was abusing it?

I looked into the UI.com site you shared. It looks like great stuff that may work great, but definitely would need to be professionally installed and maintained I would imagine. The support comes from a community forum. Perhaps I will connect with a telecom professional to assess this option. Thanks again! 

Great points!

 I agree about the bandwidth. The local internet provider (Windstream) suggested a "dedicated circuit" which they said would provide sufficient bandwidth for everyone given they were doing typical streaming and gaming. Of course if anyone conducted extra tasks (business related, sharing with outside neighbors, etc) it would potentially create an issue. Plus instead of the service provider having to deal with their direct problems it would be me (my property manager) having to field the complaints and issues.

Even if we did have the satellites mounted to the roof we would still need to get the coaxial cables into the house in a nice fashion, other than through the windows.

Im trying to turn a C- class building into a sold B, and those tenants won't want satellites and cables everywhere.

Thanks for your thoughts and knowledge. Perhaps running cable may be the best like you mentioned, it will just be probably 10k plus to do so simply because of the drywall repair costs.

Thanks for the info. Ill have to check in to the "point to point" connection, Im not familiar with that. One of the other negatives about the wireless could be tenants "selling" or sharing the access to nearby people in another apartment complex, using up the speed. Thanks for the info, ill look into it!

I own a 18 unit apartment building in Georgia and currently rehabbing the entire structure. The building was built in the 70's and was not wired for cable. The previous tenants had Direct TV or Dish satellites placed everywhere so they could get cable, running the coaxial lines through their windows. This looked horrible, but their options were limited.

During rehab I was initially planning on running new cable networks throughout the building. Both electricians did not want the job simply because there is no attic space. Each unit would need extensive drywall repair going to each bedroom after placing the cable lines.

For $1350 a month I can have a "dedicated circuit" of DSL ran to the apartment complex and offer landlord supplied internet. I understand this would bring more issues than just the monthly cost (router maintenance, ongoing issues, password authorizations, potential speed problems, etc) Would this be a viable option for the tenants if they can all "stream" their cable from this? Im hoping to offer them a service, and at the same time eliminating the ugly dishes from the property which would attract a better resident pool.

Any experience, or suggestions would be greatly appreciated!!

Cheers

I believe every economic environment has the potential to offer personal and business growth when we adapt to change. During the Covid crises I have continued to analyze and make offers on multiple-family and apartment homes. Although I am not particularly "low balling" anyone, I do factor in margins for the unknown during these volatile times.

Personally I have been adding to my vacancy reserve (physical/economic vacancy growth) as well offering at a slightly decreased amount (1 percent above prevailing cap rate) due to the current state we are in (Covid, Eviction protections, Unemployment, etc.) 

Please share whether or not you have been factoring in margins during these tough times and how your underwriting has adapted.

Signed...

Ultimately even if they created mortgage protection to landlords in compensation of rental legislation, everyone will still be operating deep in the red due to other fixed & variable expenses. With media and public persona, the weight of these perceived "successful leglistalion" tactics, are being placed on landlords backs.

I have a couple rentals here in the Thousand Oaks area. Thousand Oaks is home to one of the best school districts in the nation, safest towns in American (minus the horrible incident in 2018) all while having a similar commute to LA/Valley area as Santa Clarita.

I just rented a small SFD here in Thousand Oaks for $3,250 a month first day on market last October. 

You can find detached garages here in TO, but they are few are far between. Most detached garages are on properties built between 1920 and 1965, which is early for both TO and SCV.

IMO this is the worst time to close on a deal at market price. We are not only at the top of the market, be we also have a huge risk at the moment as landlords. The economy is shaken, people are out of jobs, and in a time of rental forbearance. 

Notice I said "market price", because there may be a deal out there if a seller is highly motivated to exit the current volatilie conditions. Yes, the real estate market will recover. Nobody knows if it's going to be in 3 months, or 5 years. Regardless of when it recovers, YOU have to bear that burden until it does.

Be patient, and be smart!

There are actually all types of property management models out there (depending on your market size.) You can find set fee based models, percentage based, marketing only, etc. For me personally, I will pay for the quality property manager because that "fee" lets ME do what I do best.....Look for additional deals, and maintain sanity. 

My property manager is the most critical part of my team, I will rarely negotiate their fees.