All Forum Posts by: Benjamin Haberman

John,

That is the whole point of posting on BP. You need to hear both sides of it. I slept on it and decided I need to step it up and just button everything up that needs to be fixed. At the same time, im also going to put the tenant in check by stopping the 24/7 texting. Appreciate the response.

@Kevin Sobilo. Kevin- good point. Thanks for response.

@Dick Stevens @Dick Stevens house was built in 1800’s and i already replAced the pump. A new submersible pump well adds value and eliminates wAter issues in the long run. Are saying if the actual lease states there was central air conditioner?

Hello BP, One of my renters is becoming more and more of a total thorn. I made a huge mistake giving them my cell phone number too. Texts every night about little small issues. For instance, she texted me tonight asking to secure the crawl space entrance doors. Last Friday her water turned off while in shower. This was a legit concern and i had a new well drilled on Saturday. $4,000 later i basically told her i was tapped out with service requests. It gets to be out of hand. Just curious- do you hold any of your tenants responsible for anything in the house? To top it off, after the crawl space entrance text, she says the air conditioning isn’t working greAt. It makes me want to rip the central air out and tell her to get window units. It’s just non stop and is really starting to get to me. The house is old and it’s been a huge learning curve for me. There are definitely more issues with old houses but it’s getting to the point where i need to put my foot down and let them know i am not a 24/7 non stop service call center. She rented the house AS is, and i have had enough. Their $1,000 window blinds and $4,000 well is not enough. It’s always something. Please help, any insight would be much appreciated. Thanks!

Thanks for all of the responses. I tried to call her but she cursed me out. So i went to the local police station and one of the policeman said he would go over there and talk with her. If she keeps causing trouble, he recommends i file a complaint. We shall see.

So we just listed our latest “flip” and the neighbor is a total psycho. My landscaping crew was there and she claimed to be electrocuted by a Verizon cable line. She screamed at our septic guy. She screamed at our project manager. Then just today, i received a feedback from another buyers agent that she came right up to potential buyers today and screamed in their window to “Get the “F” out of here”. Needless to say, I’m a little concerned now. Any ideas on what i can do to get this lady to relax and let me sell the house. Offer her Cash for being nice? Or some kind of incentive to be nice? Any info would be much appreciated.

Hey Kurt, I want to buy something in AC. What do you recommend?

Originally posted by @Mike Nelson:

I see there is $30,000 expense for electric metering.  Is this something that can be done in a year or two free up the cash, would this make any difference?  The bottom line is this property something you feel like managing at this point?  It may or may not work.

 Hey Mike, It can't really wait because the monthly expense is so high if you dont meter out all of the units ...

Originally posted by @Stefano Grottoli:

Think like this - compare 3x the cash flow from option B to 2x the cash flow from option A.

Option B gives you back almost 2x the 60k invested, so you could have 3 properties cash flowing versus 2 properties cash flowing from Option A (however with a higher cash flow).

But at the end, the beauty of BRRRR is the last R. So I would probably go with option B. Imagine how you can scale your business from having 2 more properties to Cash out Refi later, and considering the same numbers that would give you 240k to rinse and repeat again.

That’s how I see it!

WELL said. Thank you!!!

BP community,

Just received appraisal back on my 2nd Brrrr. House appraised for $150,000. We are all in for $60,000.

Simple question. What would you do? A or B?

A. Cash out refi my all in cost ($60,000) and cash flow more per month

B. Cash out refi 75% of the ARV ($112,500) and cash flow less per month (vs just taking out what we have in). This would give us more cash to make next move with.

I understand that both A and B are solid answers, but curious to see what the majority of BP would do.

Thanks in advance!!!!!