All Forum Posts by: Troy P.

@Jaron Walling Thanks for the advice.  It's a decent tenant that paid in full up front and may or may not be leaving in 10 months.  Knocking on wood, it's also in a great spot to get a tenant placed very quickly if it does happen to become vacant.  I do have the reserves ready so I'll work on getting an upgrade.

Can't tell if you're joking...

Seriously though, yes, it is a good idea if you want to ensure the tenant will pay you each month.  I recently had a tenant that signed a fixed 1 year lease and a co-signer paid in full up front.  In that case, I didn't care if the tenant had a job or sat at home and watched Real Housewives all day.  It all depends on who's paying, for how long, and at what frequency.

I lived in this home for 6 years and lived with the fact that the 50 gallon water heater does not fill the tub enough to take a luxurious soaking bath.  Now, the tenant is complaining that the hot water output is not sufficient for baths.  The heater is nearing the end of it's life at 15 years old, so do you replace it with a larger size and it's a win-win?  Are you obligated to provide a certain amount of hot water?  Do you tell them to suck it up and potentially have a disgruntled tenant?  Trying to weigh the options here...

Quote from @James Hamling:

Quote from @Troy P.:

Quote from @James Hamling:

Quote from @Troy P.:

Quote from @James Hamling:

Quote from @Troy P.:

Quote from @Bruce Woodruff:

Quote from @Troy P.:

Completely untrue. I know a lot of folks that just bought or will be buying soon and 0% of them are 'wealthy'.....just normal people.

Now you might be correct if you said that only wealthy people can buy homes in SoCal on the beach, or on Staten Island.....but in general, naw, anyone that really wants to can buy houses.

Yes, I should have phrased that better.  Anyone who wants a decent investment in a decent area and not wanting to dodge bullets every night is now facing a tough time making that "dream" happen due to a combination of prices, rates, and inflation going wild.

 Lol. 

OR another way of saying it is Business as usual. 

The idea that an Investment Real Estate business should be simple, so simple that a person in minutes or hours can at most basic level just buy any old property, easily and readily make considerable profits, LOL, that's just infantile. 

Being a Landlord is a BUSINESS. Being a real estate broker of any kind is a BUSINESS. Why is this basic fact overlooked so much today? This is not a slot-machine, it requires more skill and care than just sitting down, throwing a few $$$$'s into it and sitting back watching everything make $$$$. It simply does NOT work that way. 

So difficult to find good deals, yup. Complexity in how to do it all, yup. The sun rises in the east and set's int he west, yup. Any other obvious facts? 

There is nothing new in this facet of REI being a BUSINESS and requiring intelligent care and actions as ANY business requires. The only "change" is people thinking something differently, thinking it's supposed to be easy, simple, "cheap".

Name the business, any business, and online there will be tons of books preaching of how simple all those can be started also, so it's not the books fault. It's the fault of this "poof" generation that has become "e-z-junkies". They've never had to try at anything, get awarded for just showing up

Your imagination certainly went wild from such a simple post... I was mostly referring to the fact that a large number of people who could have been able to afford a home as a primary residence last year now cannot due to the combination of rising rates, rising prices, and rising inflation.  I'm not sure how you discerned entitlement or lazy work ethic from my posts, but that was definitely not the intent.  I agree with some of your points, just not sure how it was related.

 Your personalizing, and than projecting. 

What basis do you have for your assumption that "a large number of people who could have been able to afford a home as a primary residence last year now cannot"?

 Well, median household income decreased, spending decreased, mortgage applications decreased, and over that same time period home prices increased, rates increased, and inflation increased, but you're going to pretend like it's business as usual and homes are just as affordable as they were last year?  I'm not saying last year was normal, and I'm not saying that everyone has a right to purchase a home.  It's a simple analysis of the market in my area, which oddly enough has prices plummeting back to more (at the risk of being attacked) affordable levels.

 Ok, and see, here where things are going to get interesting because now your just out right lying, by commission, which means purposefully, knowingly, for the purpose of manipulating, and that just plain pizz's me off. 

No, median household income is NOT going down, it's actually going UP. Any opinion argument your going to make here, pointless, because there is no such thing about an "opinion" on such, there is ONLY data and facts, that is it. If your "opinion" is that the sun rises in the north and sets in the south, no, there is no "difference of opinion", it's just wrong, that's it that's all. 

Spending decreased? Really? So riddle me how your saying, in same breath, inflation AND spending DECREASED? How's that work? 

There can not be inflation with INCREASE in spending, because that's inflation, things cost MORE. So, if spending DECREASED, that would be DEFLATION, which no, not happening. Actually, one of the biggest inflations in a long time, which spending has gone UP. Your own BS is directly conflicting itself. 

So far everything you say is just BS. This started with your "decree" that only wealthy are capable of buying homes. Than, next "decree" that those who bought homes before now couldn't possibly afford those homes they bought, just because. Now, that median incomes are dropping, spending dropping yet somehow inflation going, with incomes and spending dropping (you obviously never completed ECON 101). 

Just stop BS'ing your way through, please. Just be honest. 

I didn't say inflation decreased.  I said it increased while spending decreased last year.  It would be wise to fully understand what you're reading before getting on your soapbox.

I was looking at (and posted) the same FRED chart, but for last year, which showed income down and inflation up.  That was my only point.  No need to throw accusations.  No need to constantly prove how intelligent you are are and no one else "gets it".  Sure, you find half a dozen "deals" every month.  Great!  Virtual pat on the back!  Maybe we all need the same investment strategy that you have since yours is obviously the only one working right now while everyone else is busy crying on BP.  Imagine a world where everyone is as successful as Mr. Hamling and there would be no need to talk through different opinions and learn from others.  You are correct, I did not complete Econ 101.  Is that a requirement for investors or just people who are allowed to speak to you and learn from you?

Seriously though, how do you find time to come on here and be so condescending if you're out there kiling it with one hand tied behind your back??

https://www.apartments.com/ren...

"Required Notice before Entry: No statute"

This means you can enter at any time, for any reason, with or without an advanced notice.  Since you don't owe this person any type of courtesy, I would say you are safe, but this is not legal advice :)

 Well, median household income decreased, spending decreased, mortgage applications decreased, and over that same time period home prices increased, rates increased, and inflation increased, but you're going to pretend like it's business as usual and homes are just as affordable as they were last year?  I'm not saying last year was normal, and I'm not saying that everyone has a right to purchase a home.  It's a simple analysis of the market in my area, which oddly enough has prices plummeting back to more (at the risk of being attacked) affordable levels.

It is mostly for preventing the typical case of tenants not installing them properly, water and pests getting in, then it becomes a bigger issue.  We have very high humidity here in South Louisiana as well as very strong thunderstorms year round.  A 3 inch gap in a window with no screen is not exactly ideal.  I also noticed it was not tilting back allowing proper drainage.  Will it start draining into the home during the summer?  Who knows!
 
This same tenant also removed the master bathroom door and stuck it in the closet.  I'm assuming it was in the way of the closet and it was more convenient to remove it.  Do I allow building modifications?  Of course not.  You're right it's a very mundane problem to have, but if she's allowed to get away with this, what else will she try to get away with?