All Forum Posts by: Rob Lane

I have had too many bad experiences over the past 20 years of doing this.  I am my own contractor/maintenance man.  It took me 10 years to build a team of the 3 bigs, (H&A, plumbing, and electricity).  I have had to fire too many contractors of all aspects over the years.  You need to learn the lingo, and what you are doing.  Even if you are not the contractor you need to be on the site and get your nose bloodied and pitch in and work.  You would be amazed how a 6 month project turns into a 3 month project when you are on site regularly.  Besides that its my favorite part of the job!   

Keith, I have built a single story garage or basically one level with a huge attic in historical.  I don't see you having any problems if there are other 2 story garage type apartment in the area which you are building which is very common in HH and Mesta.  Go through Angela Yetter at historical, she is awesome, its the board members I cant stand.  I have been in historical court several times and they are a very arrogant bunch but you got to kiss their ring.  Good luck! 

Too few properties.  Too easy to manage yourself. 

Jackson, you can purchase the book through Amazon.  Ebook is $4.95 and paperback is $14.95 or go through my website at millionairemaintenanceman.com  Thank you for purchasing

Alisha, thank you for purchasing the book.  So proud of you for taking the time to make your home a premium rental!  My thought behind the garage apartment is yes.  Make it fit the landscape of the large house and the area especially if in historical.  First off your expenses wont be near what it cost to fix up the primary house and our goal is to keep these tenants as long as possible.  Now if you are leasing in the same areas that I am in, you know very well that rents are at a premium in this uptown, mid-town area.  Wouldnt be surprised if your able to get upwards of $600 per month or more!  You also want the same clentele in your garage apt as you do in your large house as they will be living right next to each other.   

William E, that is me holding the book that I wrote.  That too was like a real estate adventure.  Took a hell of a lot longer than I wanted it to and cost a hell of a lot more $$$ than I anticipated with trade marks and lawyers etc. but it was certainly worth  it as it has helped a lot of people and motivatied them to take action. 

Derek, I started at 21 years of age.  Bough my  first duplex, the other side paid the mortgage, I had a company car and only made $22,000 a year back then.  My expenses were nothing and I continued to invest in income producing properties.  And when my wife and I started making really good income we stayed in our $66,000 house and continued to purchase income producing assets while all our friends were buying $500K homes and BMW's.  Now I am 43 they are all still at work while I am here getting to answer your questions on BP.  That is freedom!  The entire story  is in my book. 

Kayla, congrats on your motivation for financial freedom.  Feel free to personal message me.  The quick anwser to your question is I have always put my notes on 10-12 year with 3 year am.  That does not allow for much cash flow right now but in 10 years from now, WOW!  I had to subsidize with my EI a lot of the time.  It sucks but didnt have much choice.  In my book I talk a lot about how real estate is not about the now its about the 10 years from now. 

I recently rented to a mother of 2 with a bankruptcy.  It pulled at my heartstrings as my mother was also in the same position when I was growing up and we had to have a place to live.  She really wanted the place and made good money  in the medical profession.  I made her put together a budget and send it to me where she incorporated all household cost and expenses.  I can say its been about 5 months now and I couldnt be more pleased!  And as far as credit scores, if they all had great credit scores we would all be out of business   

Rhett, I live in Shepherd and own several homes in this neighborhood.  I have not seen rents come down. But you have to realize that my philosophy for these younger tenants I have to provide extra service levels.  I take trashcans down to the curb and back.  I handle all lawncare, all my houses have stainless steal appliances, I cater to their every need which creates less turnover.  As far as the tiny house project goes I have been dealing with the historical society for years and if I can handle them then this tiny house project will go through!  Stay tuned.