All Forum Posts by: Scott Mac
Scott Mac has started 60 posts and replied 5069 times.
Post: Thank you, BiggerPockets! On to a New Chapter

- Austin, TX
- Posts 5,181
- Votes 5,220
Welcome to the world of Fred Mertz Mr Roper, and Mr Furley--full time stay at home landlording.
Good Luck!
Post: Drop ceilings in rental properties ( what are they hiding)

- Austin, TX
- Posts 5,181
- Votes 5,220
Personally I dislike the look of the drop ceilings, and don't believe that It will attract the type of renter that I would like to have in the unit.
I know in some areas, there are a lot of these drop ceilings in older homes.
I have never bought anything with a drop ceiling in it, but if I did I would factor into the price having the ceiling properly sealed up with wallboard, or having a Plaster repair service come in and replaster over the problem areas.
One thing I think about when I see the drop ceiling is whoever did that was cutting corners to save a buck.
It makes me wonder where else the corners were cut to save a buck that I'm not noticing immediately, and should that work have been done to a little bit higher standard.
Good Luck!
Post: How Much Should I Charge Tenants for Damaged Carpet?

- Austin, TX
- Posts 5,181
- Votes 5,220
HUD lists the service life on a carpet as six years.
It looks like they have been using this carpet In the apartment for 6 years.
In my thoughts, no matter what the condition was when they moved in, that carpet is used up.
Meaning, the wear and tear on it has been built into the rent over the years, and any damage to it right now is damage on a used up item, making the question of whether to charge it to them or not un-needed.
Just my 2 cents.
Post: Damaged door trim, for real!

- Austin, TX
- Posts 5,181
- Votes 5,220
And you knew exactly what those marks were for!
I haven't seen that in long time.
Good Luck!
Post: Paid Internship/Job Shadowing

- Austin, TX
- Posts 5,181
- Votes 5,220
What exactly do you wanna learn?
There are so many developers who do so many different things in Los Angeles.
For instance you may run into a guy who does strip malls, or a guy who does skyscrapers, or someone who specializes in buying and flipping houses in Class C neighborhoods, or somebody who just owns apartments in very rough parts of town, etc...
Just being an open book, or a sponge of everything is sort of like being a leaf in the wind.
If you have not read Anthony Robbins book awaken the giant within, you might want to think about doing that, and doing the written exercises in the book.
If you choose to do this, it may help you zero in more precisely on what you want to do.
Another good read you might want to think about if you have not already read it is Rich Dad Poor Dad.
Both of these things seem like good foundational stuff you might get a benefit from-possibly helping you to be more granular in your choice of what to learn.
Also this ((( business ))) takes money, you'll need to have enough for the down payments and working capital, and Etc...
Good Luck!
Post: How to manage contacts on your iPhone like a pro

- Austin, TX
- Posts 5,181
- Votes 5,220
Here is a very easy to follow video with some good information in it that you may find useful.
It is about all of the contact features on the iPhone.
https://www.youtube.com/watch?v=eKLIR-4p49c
Good Luck!
Post: Self-Manage or Hire a PM? I Need Your Input

- Austin, TX
- Posts 5,181
- Votes 5,220
Maybe stay managing yourself, and also hire a manager to handle part of your portfolio, a small part.
That way you can get an actual reading on the manager yourself, because every manager is going to be a little bit different in their personality and in how they handle things.
Then if you find a manager who meets your needs, and you're comfortable handling over more properties, you could still dole them out a little at a time and see how the person does.
Good Luck!
Post: New tenant - dog has allergies

- Austin, TX
- Posts 5,181
- Votes 5,220
What is a severe allergic reaction?
Does it mean the dog is sneezing when he opens the window; or does it mean the dog is in a life threatening situation ?
Is the dog on the lease ?
I believe a veterinarian can do an allergy test on a dog to find out what the dog is allergic to, and may be able to prescribe some medicine to help the dog (Maybe a veterinarian in here could weigh in on this)???
I would guess if the allergic reaction is strong enough and the dog is in some kind of danger, without some kind of veterinarian help your renter might decide to move out rather than get rid of the dog.
But right now it seems like it would be more of a veterinarian problem, rather than a duct cleaning problem.
Maybe the dog is allergic to shoe polish or something on his shoes, or the clothes soap that he has currently changed to a new one, or something like that???
Just my 2 cents.
Post: What is the threshold to walk away because of what the inspection report reveals?

- Austin, TX
- Posts 5,181
- Votes 5,220
I think this might be a different answer for everyone
For me for instance it would depend on the actual structure and this is something I could do myself quickly, or would I not not do it myself for some reason such as fear of Heights, too much grunt work, etcetera ... , or would I have to pay for labor.
The curb appeal of the property, or potential curb appeal.
What amount of rents could I get for the property compared to the amount invested in fix up and purchase.
The location of the property, and the direction I see that area going in as far as valuation increasing or decreasing.
And is this something I would want to have in my portfolio.
And is there something unique about it that renters might find attractive, such as it's in the same block as a 7-Eleven, or the backyard backs up to Burger King parking lot, or something like that.
But I think this decision will be different for everyone, based on their desires, skills, and what they intend to do with the property if they buy it.
Good Luck!
Post: Studies on gentrification

- Austin, TX
- Posts 5,181
- Votes 5,220
Also you might want to try calling a local broker and asking where the gentrifying areas are.
Then ((during the daytime)) going down and driving the streets that are gentrifying to get to know the area.
When you are there, look for possible candidates to buy for yourself, and make sure you know where the boundaries of crime and danger are.
Don't forget that in some areas gentrification includes commercial space and you might note small entrepanurial restaurants and things like that which you'll not see in the more tough areas.
When I look at Detroit for instance, and I see housing sometimes in restored shape going for three figures I assume that is not a gentrifying area because in the gentrifying areas housing goes for much much more . So there's also the cost of the surrounding fixed up houses that you could pay attention to.
But if you're looking to buy on the super cheap most likely you're going to be in a pre-gentrifying area meaning maybe very few fixed up homes and more risk (Including more personal risk for yourself).
Personally I think boots on the ground, in person is a good way to know the area.
And talking to a local broker to get a heads up on the general vicinity and roads bounding the area seems like an easy way to become acquainted with the gentrifying area.
((((If If you have friends who would socially shun you for something that you would [talk about] that would make money for yourself, you might want to think about getting a different set of friends. ))))
Just my 2 cents.