All Forum Posts by: Mark Holencik

I would keep it the same. I have one tenant that pays me an extra $50 a month because he is habitually late. That comes to an extra $600 a year.

They are on a downhill slide that they most likely will never recover from. On a D property, you should be making a good return after expenses. Their unpaid balance will continue to build. As long as you are getting some cash after expenses you are making money. 

It is very unlikely they will ever get even with you. It takes a lot of work to get most of your money. If your property manager is getting most of your money, he is working for his. It is still better than starting over with a new tenant.

Sooner or later most tenants in these neighborhoods fall into this trap. Christmas time is a trap for them. They buy Christmas presents before paying rent.

Can not answer the question of "is extra $500 worth it" without knowing how big the roof is.

All depends on the roofer. Does he really know how to install a 3-tab shingle? 

A lot of roofers do not even know how to install a 3-tab shingle anymore. The architectural shingles take less knowledge and attention to details then a 3-tab shingle. 

Sellers license? Why do you need a license to invest?

Why do you need to know if she is paying her electric bill? 

Is it in your name?

It can be frustrating watching grass grow.

Why do you need 40 units a year?

I must be missing something. You want to get rid of a tenant that is fixing something they broke?

You never need an LLC. If you had a partner maybe.

There are places that I can only put out a job sign while I am working. The minute I stop working I must take the sign down.

You could probably be listed on Home Advisor tomorrow to do roofing repairs. 

You could have a new roof in the neighborhood of $36,000. Increase your chances of not getting rip off by checking if they are a member of NRCA. National Roofing Contractors Association. 

I have a friend that I could recomend. If you want it done right.

Have it fixed before you buy, If you do not get the right guy this could go on for years. I get called in for roof repairs and people go with the guy who is less expensive. They usually call me back after 4 or 5 guys do repairs that do not work. Then they think that the price I gave them is the price. There is a cost for not going with me first. Part.y because of the mess I have to clean up from all the other attemps.