All Forum Posts by: George Paiva

Didn't realize the different types. I have multifamily properties and was looking to step up from Quicken Rental Property Manager. I was browsing the Quickbooks website and see there are a number of products.

Which do you use?

QuickBooks Pro
QuickBooks Pro Plus
QuickBooks Online Plus
QuickBooks Premier
QuickBooks Premier Plus
QuickBooks Enterprise Solutions

Does this mean when girlfriend/boyfriend, son/daughter magically appears, I can use this as means for eviction???

As much as I hate new laws on Landlording this may work to our favor.

John gave some good pointers. I also like to checkout craigslist for materials or appliances.

As for Kitchens, I stay pretty simple with contemporary dark wood finish or White cabinetry. The counters I do formica. Backsplash I use simple 4x6 subway tile .22c each. Appliances I started doing black instead of white. Looks a little more upscale. Stainless is a no-no because they show wear to easily. Sink I do stainless, double basin. I also stick with single handle moen or delta faucets. Flooring is tile or vinyl.

For Baths, most of my rentals have the old iron porcelain covered finish tubs. I like those because i get my dual action buffer I use on my boat and go to town with a cleaner / polisher used on boats. If the walls have to be done. I mostly do subway tile or if I am pressed for time I get a three piece enclosure. I don't do glass doors, just put a rod have the tenant buy the shower curtains. Flooring is always tile. Vanity is white, builder grade, one piece top. Also stick with one handle faucets for tub and vanity. White Toilet. If I use the old one it has to be the modern 1.6 gallon flush and I just replace all the tank hardware. I rewire a few shower pot lights and fan integrated to one switch. Then add a GFI plug above the vanity. Use a simple medicine cabinet that matches the vanity.

The rest of the rooms, living, dining, bedrooms. Get a netrual creme or off white color. White baseboards/trim. Flooring is either wood or vinyl tile. If vinyl I've done a 1/4" plywood underlayment then adhere the tiles especially in the old houses where its just pine planks for subflooring.

I use a PO Box for rent and regular mailings I don't want folks to know where I live. Worth every penny.

I would of never bought it if I didn't have those guys. The place had one boiler for Heat and Hot Water to do the whole house. Previous landlord was spending $3300 a year in oil. First thing I did was clear out the whole basement and put in separate boilers and water heaters running off tenants Natural Gas.

LOL, we just evicted one of those. Except he had no where else to go except back to his mommy. Hell the kid was 27 years old already!!!

I've been having a lot of people call or look at my vacancies for someone else or significant other. I know the quality of tenant base has been going down in last couple of years but this last vacancy really has been bringing out some brazen potential tenants.

Usually prescreening takes care of 90% of them then the application takes care of the rest. I require anyone over 18 to fill out an app. Usually it brings up the conversation of oh I have my girlfriend/boyfriend staying a few nights a week. Or the ones that indicate they have adult son/daugther staying a few nights a week. Usually not a problem if they sign a separate application and be listed on the lease.

Problem is I find out their credit or criminal checks indicates why the person was not brought up in the first place. Dollars to Donuts they are basically fronting the apartment so the deadbeat tenant can move in.

My guard has gone up as I have caught a few of these in the latest vacancy...

I have to upgrade my meters and panels and put in an additional landlord meter at one of my properties. 4 meters/4 panels all updated would be around $8k from my electrician. He is also a good friend. Something I will need to tackle in the next couple of years. Luckily the current setup is handling the draw right now. I just reimburse the first floor tenant $50 a month to handle common area lighting.

Get some electricians in there to give you a rough estimate. Usually in a rehab property I am performing the due diligence before close I bring HVAC, Plumber, Electrician for a walk through. Worth every damn penny.

I wouldn't do it in your case. Also look into your eviction laws. Some states require you to use a lawyer for eviction if LLC'd. Depends on how your property works out for you. If you begin to add more property please go the LLC route.

Your better off having it in your name, BUT setup separate Checking Account to handle all cash flow, remember separate escrow accounts for your security deposits.

It depends on the tenants but usually if they are a good tenant I allow it to go month to month. As long as there is a lease in place you will be ok.

Of course the risk is the season of vacancy. I haven't had too much trouble filling vacancies in the winter months even up here.