All Forum Posts by: Douglas Larson

I have been a landlord for 15 years and 10 of those in Utah. I really liked KSL.com in its pre-Rentler days. I advertise vacancies on Craigslist  (especially in Park City) and I have used the new Rentler database for 3 properties with very good results. I think they are constantly improving their functionality. Their best features are their on-line applications and tenant screenings. I make each adult over 18 pay for the $25 fee and then I reimburse the fees to the chosen applicants. They have another really cool feature that I've only used with my latest property. For $8 per month they will collect the rent from the tenant (Bank ACH) and deposit in my biz account. Rentler even gives me an email on the 2nd of each month to let me know the money is on the way. That is priceless!

Rentler is growing too. They appear to be expanding all over the US. Their map search feature shows properties in most major areas in the States. I am a big fan, although I will always advertise with Craigslist as well. 

Here's my 2 cents . . .

I am not an agent but I have used several over the last 15 years. Right now I make most of my offers on REOs with a young, newer agent that works with a very experienced broker. He also gets most of my listings. The young agent is enthusiastic and hungry for work. He doesn't mind writing 20 offers for each property I actually get. We also get together once or twice a month and he asks me a lot of questions about investing, rehabbing, landlording, etc. He is curently working on his first flip and I have givin him some pointers. It's a good relationship and not just about the commissions.

Bottom line with any agent is that they want to know they are not wasting their time and energy for nothing. If you actually buy or sell a few properties a year with them that represents 10 - 20K of income. My my/sell transactions were nearly 2M last year and that represents a lot of commissions paid.  You can also add value to the relationship in others ways too like advice and mentoring.

A great place to look for agents with the right mindset is here on BP and also in local investor clubs.

Yave Fun and Make Your own Luck!

@Matthew Schroeder, @Karen Margrave

Thanks for some of those photos. Embracing some of the style elements in neutral base colors looks like the right plan. 

Every time I remove a harvest gold fridge, maroon porcelain toilet, orange carpeting or plaid wallpaper from a very dated home I always wonder, "what on earth were they thinking?!?" Now that I'm seeing some of the same color schemes coming back in builder model homes and on HGTV I just shudder. Designers and manufacturers were able to convince a whole lot of people that orange, maroon and avocado green were the must-have color schemes 40-50 years ago. It appears they are trying that again, using or mis-using the term "Mid-Century Modern." Even if the designers are able to sway public opinion to those wretched schemes again, some of the photos prove that the style can have a neutral undertone while the small, easy to change accents can comply with the latest fad. I just can't install orange carpet with green walls but I could buy a few orange pillows and vases if that's what the public wants to see.

@Karen Margrave

Great links! Thanks.

I can get behind the architecture and simple wood furniture. It's some of the colors and patterns I see on TV and in model homes associated with this term (Mid-Century Modern) that have me frightened. Designers and manufacturers always have to change the latest fad in order to prompt consumer demand. In many ways, I welcome that change because it allows rehabbers and remodelers like me to "update" a 10-15 year old home with paint, carpet, cabinets and fixtures and make money!  That said, I think some of the carpet colors, wallpaper patterns and bold furniture colors trying to shape the new consumer demand are "love it" or "hate it" choices. It's hard to design and stage for that.

I stage all my homes for sale. I have had to adjust to a few new trends over the last decade and a half - mostly color palate (tans a browns changed to soft greens and blues). I am not a designer but I watch some home shows with my wife and attend a couple Parade of Homes each year to confirm we're on the right page with perspective buyers. Together we can stage a home that appeals to 90% of buyers in a given price range with some simple espresso leather sofas, tan carpet, non-offensive drapes and accent pieces. Lately though I keep seeing crazy, ugly stuff on TV and in builder models, all under the name of "Mid-Century Modern." Is that a designer term for, "we ran out of ideas so we're bringing back the ugliest color combinations from the 70's."?!?

Home staging for the masses has been pretty easy up to now but this new trend could be very divisive if 40% of new home buyers are hoping to see orange furniture, plaid wallpaper, shag carpet and avocado drapes. I just can't do it and offend the other 60% of people who haven't yet lost their minds! Anyone else having issues with this?

Pics Below:

UPDATE:

So, the Home Depot guys went to my rental home on the day specified. They were early but my tenants were there to receive them. They called to tell me that they couldn't complete the install because they couldn't remove the old unit. I guess a previous owner of the home had installed the floor tile right up to the feet of the DW without removing the unit or the cabinets. This is not uncommon and is often hidden by the toe kick.  I told them to "get creative" but they seemed unable or unwilling to think outside the box. 

I drove to the home, about 10 minutes away, and spent literally 60 seconds inside my house. I lifted a little on the laminate countertop and gave them just enough space to pull out the old unit. I then showed them the breaker for the DW and left for a lunch meeting. My tenants said that everything else went well and thanked me for the new unit but I haven't made it back over to see for myself. So much for complete hands-off delegation . . . still worth it though!

Yeah, I've seen tiny homes on wheels sell for 50K, or people bragging they only spent 25K going the DIY route!  My converted shed (pics posted earlier in the thread) only cost me $4K, including the trailer but it took me 3 months of part-time work to do it.  A decent, used travel trailer can run 5-10K and it's probably perfect for anybody looking for occasional use.

That said, a really nice, custom tiny home has exactly what the builder/buyer wants and includes far better insulation, plumbing, appliances, electrical, heating/AC and storage for those wanting to use it as everyday living space.

@P. Martin

Many people in the western world would argue that the opposite is true. It is actually easier to just make more money. I agree with that but must add that simply spending less can make you more free!

I will attach my "Tiny House" photos at the bottom.

@Joel Owens  Tiny homes are fascinating to me. Over the last year I have been reading a lot about tiny houses and mini-cabins. It is becoming a very popular movement and I like the concept of minimal debt, getting rid of unnecessary stuff and a small environmental footprint. I think tiny homes work well with singles and couples but not so great with modern families for long-term housing. For about 6,000 years of recorded history, most families on earth have lived in what we now call "tiny homes" of about 300 sq. ft. or less. Now, we just have too much junk - part necessity and part fluff!

To indulge my tiny house fascination, I actually insulated and trimmed-out a 10 ft. x 12 ft. lofted garden shed to make a pretty nice, off-grid, mini-cabin to visit on weekends. I had to find just the right rural county about 90 minutes away from the Salt Lake City metro area that allows (or at least overlooks) such dwellings. We have spent many weekends out there but frankly, my kids get a little bored after a few days. For them, the simple life is fun to experience, but not permanently. They miss their friends, the wii, the trampoline and other conveniences. Also, my wife would leave me if we ever downsized so drastically! She actually created the floorplan for the cabin but her shoes alone would not all fit in the space! We do like our stuff....

Still, it's been a great family project to make our own little house and get "back to nature!" A lot of people have asked me how to make their own modified-shed tiny-house. I have seen some really cool ones on the Houzz app. They are used for guest quarters and writers' retreats (think Henry David Thoreau - Walden) and even permanent housing. Most cities have laws that allow for accessory structures of less than 200 sq. ft. but they cannot be used as a dwellings and cannot be the only structure on a parcel. Many people get around these rules by simply building the tiny house on wheels - making it a trailer.

One of these days I will write up the process I went through to make my mini-cabin. The total cost was about $4,000. The land was $15K, and it came with a stream ("Crik" as the locals say it). I've learned a lot and I may build another one soon.

Have Fun!

@Joshua Dorkin

Thanks for the clarification....

And just for the record, I don't actually know anyone personally who has a true 4-hour workweek, even though EVERYONE I know loves that book. Most of us, even with our own businesses actually work 30-60 hours a week, depending on what fires need putting out! In fact, about half of the things I delegate seem to explode and catch fire eventually. Maybe that says more about my management skills than the subcontractors I hire . . . :-(

I'm sure that whoever you hire for this job will be just as awesome and effective as @Brandon Turner . Perhaps, Josh, maybe you should write a book on delegation and management. Lord knows we all need it!!!