All Forum Posts by: George Paiva

Probably not what @Account Closed expected if he was going to fight this battle. Since they already lawyer-ed up I would just try to make sure they get the hell out and not trash the place any worse than it is. This is just like the tenants who end up not paying last months rent and just move on. Is it really worth $1200 to get into a legal battle for this? In my state if a tenant wins on Security Deposit dispute its 3x security the landlord has to pay out. Just be lucky you didn't also have to shell out $1000 on eviction on top of this.

Thanks, this is a house built in 1900. I don't think the floor was OAK but Maple or some other hardwood. We stained it to just hide some of the wear over the years. It does look 1000x better!!!

You have to wait at least a day between because I use oil base because it just lasts a lot longer. I waited two days because its winter and heat only set to 55. Sanded and Stained on Saturday, went back on Tuesday to put that first coat of poly. Will go tomorrow and add another coat. I may put one more on Saturday to add up to 3 coats of Poly.

I have to do the kitchen cabinets next. This is a long term buy and hold in a C area so it doesn't have to be too fancy. The last tenant was in there since 1993. So this place required a lot of TLC.

Mix of Red Oak with some walnut to give it a darker brown look to hide a few things

One coat of Gloss Poly yesterday

Here is the original before we started on Saturday

Here is a red oak stain with satin finish. Blah

DING DING DING we got a winner. I just did a unit last weekend and they looked like that after a coat of stain and poly. Need to go the gloss route so it looks shiney and new. For rentals this is key, I have gone the satin and semi gloss and just didn't look new enough. Put another coat of high gloss or gloss. Check the bucket of poly he is using.

@Tim B. actually meant LLC on the investment property and Umbrella on you personally, especially if you self manage.

As for what strategy, well sometimes that's location specific. Also how much time you have to work the strategy. Know that fix and flips will most likely take up much more of your time than rentals. Then you also have to decide SFH or MFH...

Another thing is if you can get a "safety" check on the unit try having him/her also leave the water trickle out a bit as well when the temps get really low. Obviously they will most likely just shut off the valves unless you remove or cut the washer down a bit to not allow the facets to shut all the way?

You could plug in your own small heaters in the vanities and bathrooms. Of course same issue where they would just pull the plugs.

Can you run something in the basement? That will help with keeping the above heated somewhat to not allow freezing...

Sounds like you lean more on the conservative. I am also conservative and focused on paying off my primary first before tackling on a investment property loan. Also get the added protection of LLC and/or Umbrella Policy to protect that fully paid off primary.

Buy your first investment property by leveraging. Make sure the property with 100% certainty it covers PITI and of course gives you a nice cash return on top depending on your risk/need.

Work this property for 2-3yrs then decide what you want to do.

By this time either you will be comfortable tackling on another property with an additional loan or pay down this one to your comfort level then Lather, Rinse, Repeat!!!

Enjoy and Good Luck!!!

@Account Closed well if you have the space to run the duckwork or eventually put a forced air in unit to avoid unnecessary runs of duct work from basement then fine. But also need to mention the $$$ and headache of taking out the supply and return lines as well as radiators. I would also mention the hot water radiators keep the heat longer vs forced air.

There's a lot to contend with assuming OP has a boiler now and only wants to swap out a boiler without disturbing the radiators and supply lines currently.

Now if we are talking blank slate I would do forced air all day long as its cheaper for the unit and running the duct work.