All Forum Posts by: Michael K Gallagher

@Krista Goodrich love this, thank you for sharing.  I like that you mentioned your "model" meaning you are doing this with intention and that tells me you're a great operator.  

Would love to hear more about the renovation and what you specifically did to the house to have it meet your needs.

@Samuel Gates Don't have any specific experience doing this in that specific area, but it is really case by case dependent.  A huge determination will be what is currently there and to your point how involved the separate run for each utility is.  Adding a sub meter type system will usually be less expensive than separate Utility runs.  

I'd also assume it matters how physically long the run for each will be.  

I've also been in some buildings that would require pretty significant work to the HVAC units to have the controls and such be separated and functional also.  You really want to make sure you get a full idea of the current situation and what will be required to get to your end goal.  In other words is there 1 furnace running the whole building, or is there two seperate systems on separate controls?

@Angel L villanueva welcome to the forums.  One of the best in the entire country is here in central OH.  The guys name is Tommy Harr I don't think he is very active here but hes way active on IG.  He by far is the most stand up "for the culture" and "doing good deals" type dude you will run into.  He has a flipping and wholesaling workshop in person several times a year, and has a coaching/mentorship group as well, I am not involved in anyway in any of those groups, but just from the people he surrounds himself with, and the deals/business he does in town and the general transparency and authenticity I don't think you'll find a better dude in the entire country to "hitch your wagon to" for lack of better words.  

I don't know too many people that have an open offer to the public that if you bring the deal, he will bring the money and know how, and split the deal with you 50:50 if you wanna learn to do it.  That offer in of itself says a lot in my book.

Candidly I think the best option is some kind of dedicated scratching post, and or a "disposable" or "replaceable" piece of leather or material that goes where the cats are scratching.  May be a bit much or custom, but if you can readily get something from a store like leather itself or something from like michales or joanns then perhaps you just swap it out every so often and charge a higher deposit for pets.

@Tom Zachman welcome to the forums, sounds like you will have a bunch of great value to add here to some other like minded trades investors.  Love the idea of a person who understands homes and the trades at a deep level getting involved.  Would love to hear how your expertise as an electrician has helped you in your journey so far.  

@Dustin Harder big congrats on the first one!  Remington is a great resource in the market.

this is hilarious, I really enjoyed reading it.  

@Jarred Cline im not a financial planner, I don't eve really have enough context to direct you, but I can tell you from personal experience when I was young, and in the corporate world I basically cashed in one of my first 401Ks to purchase our first home.  That home appreciated and allowed us to them pay off student loans and when we sold it were able to buy our first house hack an investment.  I'm sure someone here can math out that what I did was dumb and it would be worth more now in the long run had I left it untouched, and candidly had I known about the market runup we had in covid I may have, but that wasn't garanteed at the time, and what I used it for ended up being a major pivot point and one the best decisions we ever made, so while it may not make sense when you math it out, I'd do it again to put us in those positions again.

@Gia Hermosillo love this mindset and thought processes, things have for sure been changing in the last couple months in the market here, and even in different ways depending on the part of town, but this "pivot" .  This pivot idea is a great way to handle something that is not going as planned.  Thats often a part of the cbus market I love is that it is flexibly especially when you plan for it ahead of time.  but oftentimes that flexibility is built in.  

I would give little weight to a tenant that claims " the PM is bad" as a open ended vauge statment.  Tenants will generally complain about anything and everything and its up to the manager to understand what is truly needing repaired and what is actually just nit picking and most are pretty good at that.  But outside of hard proof that your property is in disrepair or their maintence requests are going un answered for long periods of time and again I"m assuming you are getting reports to get an idea of this, but again in general I stick to what there is evidence of and what was recorded in writing.