All Forum Posts by: Luciano A.

@Brad Taylor

When I first started I just changed out the cylinders from one property to another so never went back into the same property but Kwikset cane up with the smart key. We like those but they came give you trouble. Buy the cradle rekey device in case you go to rekey and it doesn’t set so now you have a lock that won’t open or close.

As someone pointed out using commercial grade for common/main door to complex is the way to go. The individual units can go with basic regular locks as they are cheaper until you get more units then get smart keys. If you are not handy and you are paying to get new locks then I’d suggest getting smart key since to rekey it takes less than a minute.

Rekey using smartkey also is great when rehabbing or while unit is vacant. We use random key while rehabbing then rekey to match office key during showings. And lastly rekey with fresh keys once tenant moves in to insure no extra key is wondering out there.

@Steve B.

You would be surprised. In CA a group of young male attorneys ventured into the nightclub world and caused a lot of headaches for club owners. Many clubs would advertise woman in free before certain time. These guys would show up before that time frame ask if they can get in free.... usually wouldn’t so they pay go to the bar order one drink and pay with credit card. Get receipt showing they were there before time frame. A week later the club owner would get court filed documents claiming discrimination based on gender. Most of these club owners choose to settle for thousands out of court versus fighting in court.

HUD sometimes chooses random rental listings and call unsuspecting landlords and pretend to be prospective renter. Anyone violating fair act gets a follow up with potential hefty fines.

@Karri Dick

As a parent I understand the thinking but as an investor with lots of years in the business I’d say your thinking would be incorrect in achieving your goal of thinking a female tenant is guaranteed to be safest bet. You want a tenant who will respect your sister, her privacy, understanding her kids will be alone at times and is willing to protect them or look after them without having to be there right next to them.

As a few pointed out.....so what if female has clean background. Who says her boyfriend or BF in near future will not bring headaches or trouble. You can only word the lease that outlines how long a person not on the lease can stay there for a given period of time, usually 10-14 days. Can’t dictate who she can bring into her rented apartment or at what time frame. Your going into a business arrangement money in exchange for a place for them to use.

I’d argue a guy might be just as good of a tenant than you might think for these reasons.

-running a background check will help identify any criminal past. Violence, theft, drug use etc.

-A credit check will help identify their responsibleness.

-Employment verification can help verify character if boss says he has worked here for 5yrs+ and everyone loves him at work...shows is like ability and his ability to get along with others. Longer at the job the more reliable person is to their commitment and responsibilities.

There is more control on your part to choosing the right tenant not based on just their sex.

Looking for someone who has clean record, good credit or at least stable employment who is mature would be better judge of character than just looking for a female who can charm you at the showing of the property.

Sorry such long post but the amount of years I’ve been a landlord and number of units I own I don’t use my gut feeling to place a tenant into one of my properties.....I run everyone through my screening process and that is what helps me to get best prospect for a property.

Best of luck

@Jake Lord

If you have the cash to buy and rehab money then don’t sweat it. To be your own GC just make sure you have knowledge and time as trades hate to waste time with an investor trying to be the GC that doesnt have basic construction knowledge. It cost them time to teach and it money they loose bc of delays the GC causes.

Because you have the cash to rehab u don’t have high interest you’d normally pay with hard money. Use this house to learn to vest a contractor. Not all trades need to be licensed. Check with ur local city permit Dept. Those who need license will likely need to carry insurance. Shop for contractors that work with investors/landlords not contractors that do retail work as I like to call it...... those who work with homeowners because those guys charge more because they know they can...it’s a homeowner after all!!

If you can work through finding the right contractors at price points you can afford you can make this into rental if the flip doesn’t produce a profit.

My personal opinion.... if I had to choose between loosing $9k by walking away or do the rehab and either make a few bucks or loose less than $9k after rehab was done and sold... I’d choose to rehab and use this as a learning opportunity both on how to look for better margins but also on how to find contractors. This way next deal will go quicker and smoother since u got contractors in place.

Best of luck

@Alex Smith

Trying talking to different brokers because each firm represents different carriers. Some have access to carriers others don’t.

Look into getting a commercial policy if you have a handful of properties. The commercial policy can lump these properties together. Your liability coverage can be separate from your hazard policy. U can get higher liability coverage for fairly cheap than what u might be paying now on ur other policies.

I found commercial to have some favorable parts to it like paying me rent while property is being worked on and single policy helps keep paperwork in order.

Ask your agent to pull the CLUE report on this property in particular. It’s like the credit report of this property showing all claims ever made in this property prior to you owning. Maybe there has been past claims and the underwriter don’t feel it’s worth unless they get great return on the risk.

Best of luck

@David London

Cameras are great but since you have no internet you can put Simply Safe alarm system. Each trade gets a different code. No internet needed just power. System is mobile so you can use at future jobs and no contracts. I started using this alarm on jobsite a years ago and has been helpful for both protecting property and tracking contractors.

Now when plumber says he has been there since 7am everyday u can tell.

As many pointed out in this market trades have more work than they can handle so any customer that they can lock in but can do work when they can they will.

@Gerardo Escutia

Might want to look at insulation in attic and making sure turbines or air hawks is taking hot air out of the attic.

You said newly remodeled so not sure if that included windows as older single pane windows leak.

There are companies that charge a couple hundred dollars to come do air leak test and can tell you what if anything is causing home to leak air and what you can do to help get home more comfortable.

If home is not properly insulated even a new system will have hard time keeping house under 72.

Best of luck

@Jonathan Greer

Sounds like Neighbors from hell. If you are flipping most buyers will require a survey. Best to get now and fence on correct property line than to follow old fence line.

This is your business so stay professional and don’t come down to their level. As suggested... pay to have installed so you can stay away from the headache and comfort ur wife. Best of luck

@Logan Hassinger

Hello. PM me as I’m interested in selling a performing note here in Houston. Would like to discuss with you.

Thank you

@Ben Gabin

The agent would still have to have a broker who supervises them and allows agent to hang their license under their agency.

If you are an investor buying and selling houses then maybe the agent reduces his commission on your deal for the referral.

Otherwise as many pointed out you collecting a fee or check will get you into trouble with the states Dept of real estate.