All Forum Posts by: Scott Mac

Hi Melanie,

Homeowners insurance is required for mortgages, won't they pay?

....

Hi Derek,

If you have not read Rich Dad Poor Dad yet it's a good read with a workable debt management strategy.

As an investor you need to watch your debt to income ratio too.

Just my thoughts on this.

Good Luck!

Hi Karen,

So goes the sometimes drama of Class C.

Good Luck!

David Bardwell

Hi David,

Many utility poles have a tag nailed to them with a "pole number" on it.

If you have that number, perhaps call the local PD and ask them if pole number X was broken in an accident who would they call to fix it. 

If they have that info, ask for the  phone number they call.

If the tag is missing, walk to the poles on either side and find their numbers and guess-timate it's number.

Good Luck!

Hi Beau,

An increasing number of Slums.

Hi Lauren,

What does the lease say about dogs?

What does your insurance say about dogs?

You can't evict a dog, only the renters, and if you make them boot the dog the renters will probably leave too.

Just some thoughts.

Good Luck!

Hi Marshall,

Your Property Manager is a key player on your team.

Have you discussed these expectations with them yet?

Since the tenants are well cared for, they may be able to improve and care for you better too.

Just my thoughts.

Good Luck!

Hi Tyler,

Here is my list of how to be on the list of bidders as Team Member:

• Personal Honesty and foreman honesty (including putting up the materials spec-ed and not a cheaper substitution, and don't lie about times and then not show up on time).
• Licensed and insured.
• Workers comp (must have).
• length of time in business.
• BBB rating.
• Not a history of a lot of lawsuits for non frivolous things.
• A handful of recent "good" referrals from other investors for the particular roof type.
• Proper safety equipment use by workers, tie offs etc... (at all times).
• No Alcohol on the job site--zero! No boozed up ballerina's up there.
• No loud music blasting.
• Willing to do roof-sheathing, and fascia board replacement as needed.
• Understand the product you are putting up and it's warranty, and explain what work (if not done) will make the warranty hard to collect (again Honesty).
• it also nice if he and his crew can do custom gutters replacement if needed.
• AND Respect the customers tenants. Workmen work and do not GAWK at, or whistle at female tenants.

Scott...

Hi Damien,

If you don't have the cash already.

Read Rich Dad Poor Dad and save every paycheck from the military 100% in the bank. Don't spend a penny of it.

Then when you get out, get the best paying job you can get and use a 0 down VA Loan to buy yourself a fixer house.

Fix the house and rent it out, then repeat.

In the mean time, work on your pull-ups.

Good Luck!

Hi Jake,

You would have to asses that on a case by case basis.

Find out the how this condo operates, look at their past habits, and talk to the owners and managers.

Otherwise it's just guessing.

Good Luck!