All Forum Posts by: Mak K.

buy properties in different part of town. Now hurricane hail and storm , flood probability is reduced 

I recently saw on a MLS listing "All residents will be enrolled in the Utility & Maintenance Reduction Program at an additional fee of $20.00 per month"

Anybody any idea how this program work or what is it?

My tenant has aug rent past due. I charge $25/day late fee.  She is also going to be few days late for september.

So for calculation purposes lets take 5th September as example. So since now its two months of late fees as of sept 5th, do i charge $25/d for August late fee plus $25/d for september? 

I mean does late fee gets doubled up ?  or does late fee remains flat no matter what?

location- TX

Lease contract- texas standard TREC lease agreement

note- there is a reason why tenant is late and I am ok in this scenario of tenant being late.

You can buy reit stock which is real eatate and pays the highest dividend. Market can go up and down but reit will survival chance is higher than these guru coach deals. Again my two cents

Its just me and my personal opinion. With low budget, syndicated deals and partnering in multi family is high risk.

Why-

- those deals are run by few people at top.

- for example looked at a deal of 11 mil, i have seen top 4 guys put $250k down. Rest is all investors but yet they have full control. When they sell, they get a more cut. Well they are bringing the deal so they deserve but the low investor has no say. If the company goes bankrupt, its thank you very much.

passive- i would go with stocks  

I was told by a good friend who is mold expert. Mold is everywhere. Even your and mine house has mold. 99.999 percent mold is harmless. Just because some mold looks black does not mean its black mold. Black mold is very very rare. People-get scared of mold.

also i had a friend whose wife worked for big appartments which were never up to mark.  Its very hard for tenant ro show mold issues in court. Its like you can pnly file accidents death or injury claim once you get injured. So proving mold is health hazard is difficult unless you got sick and its proven its black mold which is rare

The only reason I have home warranty is that with a call, they can send a technician 1-2 days. If a tenant calls, I now have to google few contractors, call, manage and work with no shows and delays. I know home warranties put bandage, but in the past, I have used them as Emergency fix and then called reputable contractors to investigate further.

And yes, I am open to suggestions on what companies you use and what was biggest expense you claimed! 

Insurance companies use Xactimate and so do contractors who deal with Insuanrance

Hi,

What is the best source to find good make ready contractors? I know networking is one place but besides that what are other options- Is there a list with list of contractors or you can post projects and they bid or contact you?

FYI- Houston, TX

 What happens when they try to cancel the policy for old roof- Can you switch to others or are you forced to replace the roof? My homes are getting to a point where roof is getting old.