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All Forum Posts by: Stone Teran

Stone Teran has started 53 posts and replied 369 times.

Post: Blinds?

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Todd Plambeck:

I usually go with the cheap 1" vinyl ones from Lowes or HD for rentals.  They cost $8-$10 and a good blind 2" costs me $30-$40.  I can swap out a lot of blinds for that difference and they will break them regardless of how nice they are.  I made the mistake of not putting up blinds once.  Next time I went by the house there were blankets nailed to window casings and tin foil on some of the other windows to cover them.  

Haha yup. Also, you don't want uncovered windows that either look vacant or a person walking by can look in and check out the merchandise to steal.

Post: What is an reasonable price to pay an handyman

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Account Closed:

$20- $35 is a pretty big gap of $15.00.  I wonder if someone in or near San Antonio Texas could chime in? 

 That's really a small gap:  Prospective handymen can talk all they want.  It's tough to see their skill until they start doing work.  I'll pay crap to a guy who doesn't know much, but true pros make great money.

My suggestion is to hire through a trusted referral or to start them off on a limited scope project that's somewhat difficult (in order to gauge their talent) before taking a bid on a more substantial project. 

Post: Late rent help

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

That first month's rent is always interesting.  You usually don't have much info about their payment history and who the BS artists are.  It's good to be pretty pushy early on.

On my last purchase, I posted 3 eviction notices on the day of the closing.  That was my introduction haha.  These were all people who owed from the previous month.  None of them paid up, so it was a good move. 

Post: Should I make my girlfriend sign a lease?

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Nicole A.:

I am not legally married, and have been in a very committed relationship for 10 years. We own multiple properties together, a few joint bank accounts, etc. We've seen how our taxes would increase greatly if we were married, so instead, we had our attorney draw up all the documents we need to protect us, form trusts, and ensure our assets are all titled in both our names. 

 You should get married.

Post: $5 million is the new "millionaire"

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I've never understood the definition of millionaire.  Is it a million in assets, a million in cash or a million in assets less liabilities?

I'd keep the students if I were you.

I let renters know my "top" rules during a showing with nothing in writing because everything is in the lease.  The top rules being don't be late with the rent and no pets.

Post: Asking the bank for a mortgage on a property I own

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Yes, most banks do this "cash out" financing.

Post: Not cash flowing after 3 years

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Most likely, yes.  Have you had too many vacancies, rents too low, too much expensive outsourcing, expensive mortgage?

Post: One Tenant Moving, Other Staying

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I've been through a million times.  Let the guy stay if you deem him responsible but don't pay out any deposit money until everyone leaves.

Post: Getting Rid of animal urine smell

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I had the same problem (search for my thread).  Bleach the cement floor and then apply oil-based Kilz and then add new carpet.