All Forum Posts by: Ryan M.

We inherit washer/dryers time to time. They are there for the tenant to use but the lease clearly states the tenant is responsible for repairs and the units need to be in working order upon exit.

Personally we are in the business of renting units not appliances.

811 is the number, call in a emergency locate, they mark within 3 hours, dig, pretty simple.

I concur, the ship has sailed in many of the markets.

What is your goal?

Cashing out equity can be a good thing if that is your goal, however, it's like taking out a couple bricks from the bottom of the pyramid and replacing them with cards. The problem with cards, if the wind blows hard enough it all comes down.

We are turning 4 vacant currently. The market is strong so its not to concerning. When the phone doesn't ring then its a problem. I prefer to figure my vacancy by taking total projected gross by actual, last year was 3.1%. I consider that high, like to be south of 2%

And how long does hard wood last before it needs finishing?

If you have to pay for it they can missile a new service in, more than open trench but you don't have to mess with the driveway. We get leaks in our mobile home parks and its a matter of mini excavator and a dewatering pump. They are kind of fun repairs and we just rent the equipment. For what contractors charge we are miles ahead doing it in house.

Typically ownership transfers at the stopbox in freezing climates and at the meter in warm areas. Look at the pipe if its blue poly which was put in like crazy in the 70s its toast, replace all the service.

Oil based Killz all concrete and forget about it.

We have 1 commercial policy, please follow up after you sort all the details. Each property has 500k on it (lowest the agent said they can go) and the umbrella picks up from there.

There is 4 people around my area that banked on appreciation back in '07, '08 and the lost everything. We are picking up those properties for 40 to 50 cents on the dollar now. They have all sold and the market is picking up huge. Appreciation doesn't make it on my pro forma sheets, it needs to cash flow day one with around 15% COC with a cash purchase.

And the definition of fun should be closing with a cashiers check for the full amount.