All Forum Posts by: Michael Deering

HOLD HOLD HOLD. Your rate is 6% under inflation- free money.

If the repairs are vital then live in the property until its ready for the rental market

Its a rental and it looks fine now.  Leave the overhead fixtures and wall fixtures.

Come renewal time replace the wall fixtures with modern light- materials and cost ~$500

Sometimes the tenants offer to pay for the replacements- say yes

This is a near-miss and you should count yourself lucky you didn't transact any money while working with this person. 

Back in the day I had cars towed to the shop but I can't remember just taking one in without an appointment.  

Don't give this person a second thought.  And I think it's a good idea working with a non-investor agent when you are remote.

As the business owner you should find a solution to take care of the customer.  What's the timeline for the concrete project and is the contractor meeting that timeline?  Share the timeline with your tenant and offer some type of compensations.   

Don't do the deal. Your portfolio inc home is leveraged at 80%.  I think you should focus on building cash flow and equity in your current portfolio.  It's not about the number of units its always about the cash flow.

You should put your PM on notice in writing that you are losing confidence in their ability to maintain the property and serve your interests. 

So what is causing the smell and did you or the PM confirm the bad smell?  Your PM seems eager to spend your money replacing year old toilets.  If you receive guarantee from vendor that there is a problem and the new toilets will solve the issue then take care of the tenants.

These tenants sound like more trouble than worth.  Take care of good tenants and get rid of bad ones.

I say the same thing but I don't tell anyone about it (in the last 20 years).

Democratic-Socialism, aka Socialism/Communism 

The copy and paste is a good idea I use this "Thank you for your interest in the property, due to the high demand we are only providing tours to candidates who filled out an application and meet the requirements.  I'll send you an application invite via Zillow, hope to hear from you soon!"

I check my messages in the morning, lunch, and end of day.  That's to send out my cut and paste and review applications. 15m tops, per day.

Don't get spun up on people who don't follow directions or respond.  Focus on the good canodates.