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All Forum Posts by: Nancy P.

Nancy P. has started 8 posts and replied 316 times.

Post: operating an in-house section 8 apartment complex

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348

I'm no expert, although we have been Section 8 landlords (our county gives you a property tax break for renting in higher income areas, making it a reasonable thing for us financially.) But SOMEONE is getting those tax dollars, or church dollars, or foundation dollars, or whatever it is. The freaking Fayette County Housing Authority should know who is getting their money. (And not necessarily the same people as HUD---although HUD likely finances the FCHA). Is this in Connersville? I come from Washington and usually in small towns like that you can find someone to talk.....I would send someone to pose as a potential tenant just to get my hands on the packet...there has to be something in there linking to the funding organization.

OR is it more of a developer gets a tax break for making low income housing as opposed to actual Section 8?

I'm sorry I'm not more help but I am fascinated by your story.

Post: operating an in-house section 8 apartment complex

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348

That is not how it works in my county.  (Illinois).  Did you call Fayette County Housing Authority?  Because if THEY don't know what it is,  something is very strange indeed.    Unless there is some other organization funding housing in Connersville.  Maybe actually visit one of those complexes and ask them who funds them?  I'm very curious myself.

I would absolutely talk to the police.  Why you would trust one word out of this guy's mouth at this point is beyond me.  Why does he have to set up your account as his in order to pay you in one installment?  That is ********.

Post: Talk About Success or Keep Quiet?

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348
Originally posted by @Caleb Heimsoth:
@Michael Doherty. I have a strict policy of telling zero of my co workers. That’s undue attention I don’t need and likely a bunch of stupid stories about how I’ll get “toilet calls at 2 am” and so forth. Some of my family knows and some doesn’t. Again I don’t need the attention or judgements. When a 22 year old buys a property out of state it’s gonna yield lots of opinions I don’t really need. Some of my friends know, but again I rarely if ever mention it.

Caleb, I think you are doing the right thing. I'm laughing, my 26 year old manages our ten properties as we are in Germany for 3 years for the W-2 job, and we hope our kids also become REI, but I think even I would get all parental on a 22-year old coworker telling me he invested out of state. I'd want to tell you to be careful. Which I wouldn't do to an older person, but since my kids are in my 20's I might not do as well at minding my own business. Can't imagine what non-REI folks would say.

Neighbors and friends back home know we are REI but rarely ask specifics. We will answer if they do. Some female friends have enjoyed helping me remodel...although I never want to spend the money they do (because it's MY money), I do appreciate help from friends who have a better eye than I do. But husband is not interested in investing with anyone he has a friendship with.......and likely never will be.

Post: Tenant wants oven replaced, it's not broken

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348
Originally posted by @Account Closed:
Interested in buying property to rent out. I'm busy with work and not exactly good with fixing appliances, Electric, plumbing, etc. Where would you recommend hiring someone for these issues? Or would it be better not to hire someone for all of these this and just call places if needed to fix things?

Brittany, you need to start your own thread.

I would clean the oven, as others have said,  it should have been clean when she moved in.

I have a long-term but pain-in-the-*** tenant who wanted a new dishwasher simply because the old was too loud and interfering with his TV watching.  H brought over some soundproofing but he insisted he had already picked out the one he wanted,  of course cost twice as much as we would spend.  H said "Buy it yourself,  I'll put it in,  you can take it out and keep it when you leave".

Took this guy all of 30 seconds to decide H could install the soundproofing and maybe he could go with my original idea....run the dw after you go to bed once you're through watching TV.....

Post: I just got a $30k quote for a new roof! LOL

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348
Originally posted by @James Caruso:

I can't stand Power, they are constantly in my neighborhood knocking on doors. They like to flat out lie by getting other neighbors names and saying "Your neighbor xxx just used us for new windows". No they didn't, we know them personally!

One of my favorite things to do when the scammers say that is to call that neighbor right up on the phone and tell the guy at my door that I'm doing so.  They have literally run away when I've done that.

Post: 54 showings, no offers...

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348
Originally posted by @John Acheson:

1964? What % of buyers filter out 60s, 70s or even 80s? How many baby boomers are buying rehabs built in the 60s still? Aren't baby boomers in their 70s or 80s or 90s now. Retirement home investments might be the better play.

John, as a REI you might want to brush up on your demographics. In 2018 the OLDEST Boomers turn 72. The youngest turn 54.

Plenty of people like older houses as they are more solidly built. A 2 x 4 ain't what it used to be. 

Not to mention that the OP can do nothing to change the build date of the property.

Post: Washer and dryer in rental?

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348

I guess it depends on the area/class of property,  but where I live you could be sued for decreased rent by taking away an amenity.   Glad it's not an issue for you.

Post: Washer and dryer in rental?

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348
@Tami R:

Although I can see why you would take out the coin-ops, how did tenants react to no longer having laundry facilities on the property?  I would be seriously upset if I was the tenant...

Originally posted by @Tami R.:
I have a love hate relationship with washer and dryers. In our larger city I had coin operated in our apartments, I had 4 break ins in one month and you had to have a key to get into the laundry room so I pulled them out! In some of my sfh I have increased rents 25-40 per month because I provide washer and dryers. My smaller multis have them and don't have troubles. But when it comes to coin operated I would rather be collecting 800 a month in rent not 80 in laundry money. I have thought about offering washer and dryers to tenants per month like an option to rent along with window air units and then have my employees install and remove so I know they are done correctly

Post: Self managed landlords, do you give tenants your cell?

Nancy P.Posted
  • Naperville, IL
  • Posts 329
  • Votes 348

Being willing to answer the phone in the wee hours has made us able to know a toilet was overflowing,  a pipe had burst, and the furnace had died at -23 F outside.  I talk to all tenants at lease signing about phone etiquette,  that emergencies  involve fire, flood, or freezing.  (If the AC is out call me in THE MORNING. ) Only had one idiot call at 2.a.m because she couldn't remember where the fuse box was and the lights had gone out.  She was not renewed,  and she was told that was why.