All Forum Posts by: Arnie Guida

well, my old, reliable furnace guy that I've had for years looks like he's going to stiff me. This morning he said he never got my voicemail message (caca de toro), and said he'd call me later today after he'd finished an install he was doing. It's almost 5 and all I get is his voicemail. I'm going to ask the tenant to go one more night, don't forget this is a 4plex, so he's surrounded by three other heated units, and we're only going in the 40s tonight, so I'll call a new contractor tomorrow. I've been given a few names already.

Furnace guys... :-(

@Aly W.,

Boy, I dunno, that can lead to problems. I'd have them call me first, then I'll call the contractor.

Arnie

Years ago another landlord told me he kept one of those stand up infrared room heaters around to keep a tenant happy until his furnace guy could get there to fix the problem if a furnace went out.

Last night, while all fat dumb and happy watching tv, the call came at 8:30 from my 4plex that they had no heat. I went over to check it out, (I live within 5mi of all of my bldgs) and took along a room heater. The furnace problem was beyond my abilities, so I called my furnace guy, who's been with me for years, and wanting to stay on his good side, told him it was no emergency, that could he come over tomorrow to fix it, that I'd given them a room heater and that they'd be ok overnight (they have small kids). It got into the mid 30's here in MKE last night.

I did feel kind of smug solving the problem this way, but was trying to think of the downside. Bad plan trusting a tenant with a room heater? Possible fire? I guess...

Opinions?

Ok, ok. . I just wanted to somehow acknowledge that I appreciate the nice job he did. I see now the danger in a one time rent reduction...and I was concerned about establishing a precedent. Maybe a firm handshake, looking him straight in the eye with a "Thank you" is the best course of action. Thank you, everyone. Arnie

One of my tenants does flooring for a living. He asked if he could put new carpeting in his apartment, and said it wouldn't cost me a thing, that they had plenty of leftover carpeting to do the entire unit, and that he would do it for free. I saw it today, and he did do a nice job. Even though we agreed to no compensation, I do feel a little guilty... I feel like giving him something. What would you do? Thank you, Arnie

Yes, I have a property I passed on, an 8plex, and I kick myself everyday.

Beautiful building, very good numbers.

What's worse is that I have to drive past it regularly.

Ticks me off to no end.

It's been over a year now, and some of the pain has subsided, along with acquiring a 4plex with better numbers, but I could have had them both...

May I now add Property Management Companies in with realtors as having too much money? 

I found a 12 unit that I am interested in, but am unsure about running it myself, so I contacted 5 local firms by email, 2 of the big local names included...only one response, and it turns out he's a BP member.

Lotsa fat wallets out there...RE must be the place to be, there's so much money coming in that there's no need to answer emails or call anyone back...

hmph...

Well, good morning to you, too!

Now that I have another building, I have a new found quest to be more professional about my landlording and RE investing, I've often thought that having a dedicated room in my house as an office only would focus me better. I currently have a desk in a room that shares other activities. Things aren't as organized as they should be. I do have the room to do it.

I'm aware of the tax benefit side of doing this, but that's not my motivation, it's to be more focused and professional.

For smaller investors like me, did the move to have a dedicated office help your focus and professionalism in your RE activities?

Thank you,

Arnie

Amanda, I'd rent to you in a second, wouldn't even waste time or money on a background check... ;-)

But your response is what I would expect. You should see this app...it's SO overbearing..

At the end it says, "Our ideal applicant is a working professional. Educated, Career and Goal oriented. Friendly, Quiet helpful and respectful of others."

Ummm, ok...