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All Forum Posts by: Shane H.

Shane H. has started 48 posts and replied 745 times.

Post: Property Manager in Wichita Kansas

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279

@Douglas Rice  What part of town Douglas -- can you give the hundred block and the street?

We're looking to take on more clients.

I'm hoping I dont find one of those messes in my brewing military tenant from hell - Those sinks are pretty disgusting. :D

www.biggerpockets.com/forums/52/topics/549239-mili...

I'm far from an expert landlord/investor - but I think I moved on from newbie a few years ago as well.

I've had a handful of rentals since 2006 - never more than 10 doors while holding down a full time job - until last fall I've handled all my leasing, showings, etc.  Have been trying to expand my thinking and outsource so for the first time I gave up leasing and let someone else handle it for me when my wife and I purchased our business and were needing to relocate 2 hours away.  So we decided in lieu of selling our house we'd rent it.

It was kind of a hybrid situation with the PM - we'd spent some time developing a relationship - she managed a large 200-300 unit apartment complex and was the head PM there - she was familiar with the tenant as he'd rented at her apt complex for 2-3 years with no problems.  I think he's a Sgt E5 - has a tech type job in logistics or for all I know he flys a drone and blows people up all day as we have some sort of tech center where they do that on the local Airbase.  I met him - he seemed like a good guy - I end up leasing to him.

He has a good reference from the person I'm going to partner with on property management and since I was moving out of town agreed to lease to him, he's older military - so despite the fact I've been screwed over by 3 other military families years before I go against my better judgement and decide to rent to him.  I never meet the rest of his family but he has a young 5-6 yr old or so son with him when he looks at the house and they seem good - I'm told his 19yo daughter will live with him until she gets on her feet and gets on her own (was led to believe it would be short term) - then another young 10yr old or so boy and his tenants newlywed wife (he was getting remarried in his 40's).

So fast foward to now - I had good relationships with my neighbors - asked them to look out for me and they knew I took good care of my house.  About a month ago I start getting calls and texts asking me if I know whats going on at my house.  They say people are constantly coming and going and people are moving things in and out a lot.

Tell about a couple minor disturbances etc.  So in the past 2 weeks I find out the 19 yo supposed daughter of the tenants is not his daughter but I'm guessing a step daughter and she has 2 children 2 yrs and younger.  Her boyfriend appears by all appearances to be living at the house and moved in.  2 other men are there at least 4 days a week, and none of the neighbors have hardly seen the guy I leased to and they've only seen his wife once or twice in 4 months.  They dont even know if they live there.

2 days ago I get video of a makeshift pen with a pitbull of some sort penned up in the back yard and then today photos of trash strewn all over the back yard.  

I've leased many times so know what to say to tenants - the pet discussion was thorough and often - we even delayed signing the lease as i was told by Mr tenant that his wife may want to buy a yorki-poo - (I was ok with it at the beginning but my policy is a higher deposit and I meet the dog) he finally tells me during our leasing process he does not want a dog and is deadly afraid of them and they will NOT have a dog in the house.

The PM i'm partnering with in my business goes over today to do a property inspection - they hid the pitbull but the Yorkie-poo was found in the downstairs bathroom with a kennel and pee pads (meaning it's not potty trained) - I despise these little dogs as they will piss all over the carpet and since they're so little the tenants wont care or find the mess and clean it up.  I do not prefer them in the house - the pit bull in any rental is a not only a NO but a HELL NO.

I text the tenant and ask him to call me tonight - he does - I ask him about the extra tenant (step daughters boyfriend) amongst other family living in the house above 18 that is not on  the lease - (I'm thinking in this smaller 3/2 house there may be 5-6 adults and up to 4-6 kids living there) - Tenant lies about boyfriend living there.  Neighbors have not seen him leave since they moved in - he's been there since day 1 per what I've been told - I can find lots of Facebook photos of him in the house.

Ask mr tenant about dog - he cant even keep his story straight about yorki - first says a friend is in jail and they're keeping it for a couple weeks until he gets out, then says it's a fellow military member away at training - and he'll be getting dog back in two weeks, then says he likes the dog so he may wanna buy it and asks about adding the dog to the lease.  Dude we had this discussion and beat this topic into the ground before the lease was signed.

Then ask about a pit bull - he thought he was safe on that one as it wasnt there for inspection but he doesnt know I have video of it there.  (My neighbors liked me and I got along with them well so many thanks to them) - He admits it's there now but that it will be gone tomorrow.  Brings up that he's scared of dogs and it's not in the house.  BS

Needless to say we are posting a 14/30 tomorrow - I'm done with military people - I will likely never rent to one again - rented to 4 over the years and all of them have screwed me one way or another.  I've never had to evict anyone and this guy will likely be my first eviction - sad a 40 plus year old man is a bold faced liar.  I dont know if he married into a crazy family or what - what I was told of him at the apt community he lived at when he was single was that he was an angel and a clean freak and played by the rules.

I dont know if he felt I was a sucker as I was a private landlord and moving out of town or what.  I really hate being lied to.  I asked him to tell me man to man all the details tonight and that I'm about open and honest communication - he still wouldnt come clean.  

Do I need to calm down?  I'm sure I do - please help me get some more creative solutions to get to a peaceful resolution or get him and his carny family to leave.  We spent around $30-40k just in the last year and a half alone as my wife and I were planning on making this our long term house (we didnt anticipate buying a business and moving out of town) and also making this a show piece with upgrades, nice carpentry etc to show people the work Im capable of in the RE world.  With this many people and animals in the house it may cost me loads of money.

Sorry Im venting a little bit - people like this make me lose more faith in society - I've always been the type to do things on a handshake and a mans/womans word means something - I've treated people with respect and gotten it back - it doesnt appear to be a 2 way street with this guy.  I've had one tenant owe me $2k+ - I was polite to her when she moved out and treated her with dignity and respect and she paid me every dime 4-5mos later when she got her tax return - have another similar incident when someone else fell on a hard time.  I dont think due to the lies I can let this guy keep going.  I was told the inside of the house looked good but I know that house will not hold up to that many adults and little kids living in it for long.  It's not worth the rent Im charging him.

Post: Accounting Software Guru - Anyone use Buildium accounting feature

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279

TTT

Post: Accounting Software Guru - Anyone use Buildium accounting feature

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279

I've been a customer of Buildium since 2010 and am hoping I'm finally entered a growth curve this year as far as property acquisitions go.  I'll have 6 here in a couple weeks and hoping to add quite a few more.

Question is that I've always used Buildium for accounting purposes however have finally found an accountant I will use for tax returns etc.  He is giving me resistance to sticking with Buildium and wants to get me switched over to Quickbooks - we use Quickbooks for our senior living business and I am not a fan of it.  Doesnt help I've always hated Intuit (the parent company)

I personally like Buidiums features and it makes it easier to figure out what expenses are tied to what property and I've got 7 years of history in there as well.

Just takes me a click of a button when all books are updated to get income statements done, profit/loss, look at the ledger (in a much more readable format than QB in my experience) look at an individual properties performance etc.

Has anyone on BP actually used Buildium's full blown accounting features, tracking mortgages, depreciation etc?   Last time I called into Buildium support with an accounting question 3-4 years ago the rep commented that customers rarely use their software to do the accounting (at least in their experience and she was surprised I had figured it out or something like that)  Just self taught myself though some journal entries for last year with sales, 1031 exchanges, etc are screwing me up - so I need the accountants help to enter them.

If you've never used Buildium's accounting features or any other PM software accounting features please do not respond.  I know there is lots of love for QB out there but I do not need a QB homer chiming in unless you've used Buildium, Yardi, Appfolio etc Accounting feature (not sure if yardi, Appfolio etc have it, just guessing)

Thanks!

Post: Investing in Kansas and Nebraska

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279
Originally posted by @Bill S.:

@Amy Acuna I have done a bit of poking around in the markets you mentioned. I would say that generally speaking, the rent ready homes in good school districts are out of your price point. The $60K rent ready good school district homes are generally gone nationwide. I'm sure someone will correct me if they know of whole neighborhoods that would fit the bill. 

In Wichita that would be true - 60k houses are far and few between in Goddard, Andover or Maize schools (generally the more highly sought schools in the Wichita metro) - there will be a house here and there that could be bought in those places close to $60k but they'd be pretty crappy and anyone that could afford to live in the Maize/Goddard/Andover School district will likely choose a nicer home).


That being said I believe she was talking about putting $50-60k down and earning a 10% return - she can do that pretty easy - but there are plenty of neighborhoods besides west wichita to make that happen.

Post: Investing in Kansas and Nebraska

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279

@Amy Acuna Are you looking for just one property or possibly a package?

Post: RALF/RCH Insurance Question

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279

@Andrew M.  I'm only nearly 5 mos in on my venture but we need to carry the following for our residential care (assisted living)  licensed for 41 beds - but we can hold 36 beds in our current configuration

General Liability (We buy through an independent broker - basically covers medical malpractice, any slip/falls etc)

Workers Comp

And even though you arent interested - Non owned auto insurance in case staff use their own vehicles to run an errand etc, building insurance for wind/hail etc inc general property liability

All of this runs around $33k to 36k a year for us - thats before health insurance for us etc - Work Comp is the most expensive part of that mix.

Your best bet is likely not to find the coverage by calling yourself - you'll just waste your time - find a broker that can sell you this insurance - as far as limits - some of the limits are state mandated and will be in the regulations.  (KS mandates the medical/general liability limits we need to carry)

Post: Anyone doing STR's primarily with rentals?

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279

@Paul Sandhu

Are you doing these Short term rentals in Coffeyville?  I haven't been in that part of KS for a long time - figured your economy took a dump after Amazon left?  Sounds like you've had some luck there?

Post: Marketing Assisted Living Facility

Shane H.Posted
  • Investor
  • Wichita, KS
  • Posts 769
  • Votes 279
Originally posted by @Herly C.:
Hello BP members. I own a small residential ALF that I am interested in selling or leasing. A friend of mine suggest that I look for ALF operators who are interested in leasing those types of businesses, I’m just not sure where to start on that search. I appreciate any suggestions you guys can provide. Thank you in advance.

Herly I own a smaller one in KS - is the one you are wanting to sell in FL?  

How many beds, commercial kitchen etc?