All Forum Posts by: Mindy Jensen

@Urban McFarlane What exactly does your company do? Rental Assistance sounds to me like you help someone pay their rent.

I usually agree with @Elizabeth Colegrove but not about getting tenants to pay for repair calls. @Mike F. Said it very well, they will either not call, or will rig it up themselves somehow. You don't want an unqualified tenant working on your property.

I don't have any advice on bulletproofing your rentals, except put the high ticket items into the unit last. Watch for copper thieves, they got my house once. 

How much do you think it will cost you, materials and time, to totally rehab it? If you can do a total rehab for 10K in a week, it might be a good deal. If it costs you $50k and takes 6 months, it isn't such a good deal.

But isn't it exciting to make that first offer? Congratulations!

Who is responsible for cleaning it? It gives me the heebie jeebies just thinking about all those stray hairs, toothpaste in the sink, splashes around the toilet... 

The main problem in Detroit is the decline of the population - from a high of 1.8 million in the 50s to less than 700,000 now. Detroit had housing for 1.8 million, and now only needs housing for 700,000, so there are so many houses that just won't ever be needed. Have you ever been to Detroit? Ever been in winter? It is not a top vacation destination for a reason...

There are people I know that I wouldn't want to share a bathroom with. I certainly don't want to share with people I don't know. At least 4 adults all sharing one bathroom? That seems like a recipe for disaster. I can see rapid and constant turnover in that building.

I am a real estate agent, and get it from my local realtors association. 

I agree with @Max T. I have read where some landlords charge the tenant for the repair, or tell them if the cost is under $XX it is their responsibility. I think the impetus behind this is to avoid the lightbulb change requests. But too often it turns into nothing getting fixed. It is your property, you should fix it.

I have a friend with a rental. He goes there every Saturday to mow the lawn, and goes inside the unit once a month to change the furnace filter. A nice, innocuous way to check out what is going on inside. 

I have never worked with a wholesaler, but would not be opposed. I would want to know all the fees upfront, so I could decide if it was a good deal for me. If they know you are a wholesaler, they will also know you need to make money, too so the fee shouldn't scare them.

Is it possible to get together with him, face to face, and ask him exactly what the family's issues are? Perhaps they don't want to see it torn down, but would rather have a family in it. If their desires match your end result, perhaps you could find a way to convince them all? 

It is a tough call. I would love to know what happens. Good luck.