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All Forum Posts by: Scott P.

Scott P. has started 3 posts and replied 464 times.

Post: Who should get the rental late payment fee?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

The property owner: because that is who the rent which is late is owed to.

Post: West Lafayette/Lafayette Real Estate Investor Meetup

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Hi Katie, Thanks. I see it now.  I probably overlooked it previously.  -scott

Post: West Lafayette/Lafayette Real Estate Investor Meetup

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Hi Katie, when and where is the "get-together"? -scott

Post: Indiana Newb Interested in Rentals

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Welcome! Your double/duplex idea should be good.  That's how I started.  :-)

Post: 19 Years Old Can’t Get A Loan

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

I've been away from BP for a while.  As I return i'm not surprised to find myself again agreeing w/Theresa Harris.  A credit card - but pay the balance in full each month.  Also, work a lot and save, keeping "your poweder dry" so to speak.  Look and look and look around more.  Look for that duplex you can buy and rent out the other side and have your down payment ready.  I think patience would be better than an high rate loan....Cut your expenses as save, save, save.  It won't but fun but it will be worth it some day.

Post: Selling my very first rental property today - here's why...

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Thanks for sharing the story and congrats!

Post: What does a developer do?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Also find out who has jurisdiction for building permits by calling a local Planning and Zoning department as well as the building department. You'll need to see if the property is zoned for what you want to build and learn how to change the zoning (usually not easy) if it's not.  

If you call a local county or city and tell them a nearby address they'll be able to get you to the right jurisdiction.

Post: How do you prioritize what gets updates/repairs for your rentals?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Here's what I'd do:

1. All electrical updates including GFI outlets.

2. Replace the frame around a couple of the basement windows

3. cut down a couple of the trees causing the problem. replace with smaller ornamental trees.

4. replace the gutters but skip the filter/blocker. 

5. Replace the garage door if its unsightly

6. Replace 3 and possibly up to 6 windows upstairs.

7. Paint

8. Kitchen remodel

9. nstall a sprinkler timer and update the sprinkler heads.  I'd skip this entirely unless all the neighbors have it.

10 after sprinklers dirt/dead spots on the lawn and the lawn itself isn't level. or maybe level it before sprinklers.

11. Paint the kitchen w/painting but kitchen remodel last

Post: Earthquake Insurance needed in Indiana?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Here you go @Taylor Morrow

I don't think I've uploaded an image before.  Hopefully you can see it.  It shows the full premium and a breakdown which includes $163 annually for Mine Subsidence and $565 annually for earthquake on an all brick duplex.  The deductibles and everything is shown.  Feel free to let me know if you have any questions!

Post: Septic issue? Tenant claims house smells.

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

There are several good posts of advice here.

The thing about the tank being pumped is that the smell still shouldn't get into the house if the drain line "traps" have water in them and have not dried out.  The smell from a tank should, i think, show up outside around the lid to the tank if that lid is not sealed well.  If the septic is above ground, there may be a vent pipe that could also smell.

If the tank hasn't been pumped I would expect sewage to back up into the lowest drain in the house, probably a bathtub drain.

If you find out where it's coming from, please let us know.

thanks,

Scott