All Forum Posts by: Melissa Hall

Thank you so much!  The pipes had asbestos wrap and homeowner who is a realtor said it’s ok as long as it’s not disturb.  I seen pix where it was hanging down then put back up.  Then homeowner said not enough asbestos to matter.  I called expert and he said he disagree, it’s depending on much disturbance there was and I will not know that. 🥺

I’m looking at a home that fits all my needs and the numbers work.  The house has a steam boiler system.  

Do you recommend staying away from houses with a boiler system? Future problems/resale ability/safe for renters etc.

 A few mechanical companies told me in order to replace the boiler with a more efficient one or to switch to a furnace could quickly add up to the $30k range, or I could keep the current system and get it certified before purchasing.

Thanks

Melissa Hall

One thing that working at GM as a business plan deployer for 26 years taught me is systems, processes and to TRUST the process.

I was just about to start purchasing properties, had bank and hard money leader approvals when COVID shut in changed everything.  I told my son that property should make money, but how will that happen now?  My son started researching Airbnb and after sometime my son talked me into doing my Airbnb.   He said use what you have to make you money. I wasn’t sure it would work so I just started.  Right out the gate all my rooms were booked and have remained booked every day. 
—Lesson learned: Adults can behave like children, they need direction & structure.  My Airbnb mostly has 30+ night stays of traveling nurses and resident doctors 95% of the time and traveling skilled trades worker 5%.  Overtime I’ve realized that some friction was occurring because of misunderstandings (different mindset) and the unknown.  Also for me I felt that something was out of sorts even though I was successful with Airbnb and it wasn’t hard as I thought it would be with working long hours at GM and managing the Airbnb.  Then I got two guest (doctor and pipe fitter) that seemed to complain about each other constantly even though both of them worked about 16 hours a day.  At this point I put my GM hat on and spent time creating systems and processes.  I didn’t recreate the wheel I just took the systems and process that we use at GM and reduced the scale of people and implemented them for my Airbnb, including GM’s famous words “subject to change”.   Using my psychology degree for how expectations are communicated and like magic things are amazingly good!  

Now as I continue to grow I just copy the same system and processes.  Standardized work will have every home operating the same…my signature.

My son said, mom I bet your glad I was born with great idea’s.  Yes I am!

Thank you so much!  Your reply is so helpful.  I was nervous about not seeing the inside right now, but you're correct about the inspection being my protection. 

I appreciate you so.

Melissa Hall

My realtor called me about a quadplex that just came up for sale.  Owner sold a few and had one left.  This would be my 1st deal and it would be an out-of-state deal where my son lives.  I had my son go walk around outside the quadplex and a couple that are tenets were outside.  They shared it took landlord almost 3 years to fix central air and he allowed them to put in a window unit (that is still there), they are long term section 8.  
The outside of place has not been kept up when not that old of a place.

I’m not sure if I should go forward with not being able to see inside, has it been neglected like outside?  
Can the other 3 renters still pay with current conditions.

The numbers are very good if all was normal.  Are there big red flags anyone can see?