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The Water Cooler
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Anybody own rental houses? Needing advice
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<blockquote data-quote="swampratt" data-source="post: 2112850" data-attributes="member: 15054"><p>I am with weav199</p><p>I do my own repairs..but i hardly need to repair them..I install all new water faucets and 1/4 turn shutoff valves on everything.</p><p>new toilets in all..tile in entry way and kitchens and bathrooms.</p><p>$ 300 non refundable pet deposit..be surprised how many people get rid of the pet...Clauses in the rental agreement.</p><p>You break something or your family does.. you will pay for the item and my labor.</p><p></p><p>Deposit is same as rent amount..</p><p>I talk to the people and call their employment places..do some online checking...</p><p>So far i have been lucky..all my renters are great...</p><p></p><p>I am redneck..I hold back no BS I tell them if you are late 5 days on rent you will get an eviction notice..</p><p>You dont pay i will camp out on top of your TV set and i get pretty smelly after a couple days...I tell all of them that..</p><p>First renter i had thought i was nuts...his wife told him to come to my house and tell me he was going to be late on the rent.</p><p>HE told her Bull crap !! I ain't starting that with him...</p><p></p><p>I helped them to purchase a nice house of their own after they saved up some money for a couple years.</p><p></p><p>If you get a cheap house in a bad area.. like low rent area ..Think about an owner rent to own deal...</p><p></p><p>I got one for 20K sold it for 42K at 10% interest 6500 down 500 a month...Win win on that deal...</p><p>I carry the insurance on the houses...</p><p>I know a lady that sold the same house 3 times in 1 year 6500 down each time.. non refundable....</p><p>She gave me that pointer..</p><p>Have fun with it....</p><p>Do not rig stuff in them to make them work...fix things right and you will NOT need to fix very often.</p></blockquote><p></p>
[QUOTE="swampratt, post: 2112850, member: 15054"] I am with weav199 I do my own repairs..but i hardly need to repair them..I install all new water faucets and 1/4 turn shutoff valves on everything. new toilets in all..tile in entry way and kitchens and bathrooms. $ 300 non refundable pet deposit..be surprised how many people get rid of the pet...Clauses in the rental agreement. You break something or your family does.. you will pay for the item and my labor. Deposit is same as rent amount.. I talk to the people and call their employment places..do some online checking... So far i have been lucky..all my renters are great... I am redneck..I hold back no BS I tell them if you are late 5 days on rent you will get an eviction notice.. You dont pay i will camp out on top of your TV set and i get pretty smelly after a couple days...I tell all of them that.. First renter i had thought i was nuts...his wife told him to come to my house and tell me he was going to be late on the rent. HE told her Bull crap !! I ain't starting that with him... I helped them to purchase a nice house of their own after they saved up some money for a couple years. If you get a cheap house in a bad area.. like low rent area ..Think about an owner rent to own deal... I got one for 20K sold it for 42K at 10% interest 6500 down 500 a month...Win win on that deal... I carry the insurance on the houses... I know a lady that sold the same house 3 times in 1 year 6500 down each time.. non refundable.... She gave me that pointer.. Have fun with it.... Do not rig stuff in them to make them work...fix things right and you will NOT need to fix very often. [/QUOTE]
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