All Forum Posts by: Ryan M.
Ryan M. has started 15 posts and replied 669 times.
Post: Rent to Someone who is Breaking another Lease?

- West, MI
- Posts 674
- Votes 182
Simple answer, yes I have.
Although leases make people feel secure and safe, in the end if peoples have their mind on leaving, they will. At that point its all in the negotiations on how its going to play out.
Post: Reselling a HUD home prior to 12 month occupancy period

- West, MI
- Posts 674
- Votes 182
You know how many deals I pass because it's during the OO period.......then there people out there not playing by the rules. I'll stop here.
Post: Replacing flapper - how do I remove old one?

- West, MI
- Posts 674
- Votes 182
Its a Mansfield brand toilet and I prefer them.
You can buy the plunger/seat combo at any hardware. Typically they don't have problems. If they do I replace the entire assembly, which requires pulling the tank. When the tank is pulled I always replace the tank bolts and gasket. Sawzall to cut the bolts from the bottom if they won't turn. Easy job.
Looks like well water with the amount of iron in there. I don't allow tenants to use bowl cleaner that is in the tank, it breaks down rubber which leads to the leak.
Post: Would you let a tenant stay until they can obtain a mortgage?

- West, MI
- Posts 674
- Votes 182
If I got nervous for every time a tenant said they were moving, I wouldn't get much sleep.
However, most don't actually materialize.
Post: Rental purchase rule of thumb

- West, MI
- Posts 674
- Votes 182
2% was possible on duplexes and up from '08 to '12.
90K for $1,800/month+ all day.
That 15 to 30K single family houses was also possible but I had no interest in those.
Haven't found 1 yet for '13 that is in an area that I want to be.
Time to start shifting gears to get the returns we were getting on purchased multi family.
Post: homeowner insurance on a rental property

- West, MI
- Posts 674
- Votes 182
Fire/Dwelling is what it's called.
Post: What comes first: Windows, siding, roof?

- West, MI
- Posts 674
- Votes 182
We have the siding and windows done by the same people. That way all windows are wrapped with aluminum and transition seamlessly to siding. Avoids finger pointing when its wrong.
Buying right, Managing right, Renting right
Post: Whistleblowers Confirm Bank of America Still the Worst Bank

- West, MI
- Posts 674
- Votes 182
I just did a HARP refi with BOA and it was a walk in the park versus Chase.
Post: What Is Your Best Landlording Tip?

- West, MI
- Posts 674
- Votes 182
Originally posted by Mike Hurney:
I'll bend over backwards for a good Tenant but once one Lies, Steals or Cheats me, I use every resource to get them out ASAP.
Nailed it!