What comes with owning and renting homes?
Here are the details and disclosure behind one investor's experience with a single family rental. Your experiences may be different.
Antioch, TN - Built 1986, 3 bedroom, 2 bath, 1200 square feet; carpet, tile, vinyl, - floors; wood burning fireplace; rear deck; front porch; no garage. Purchased in 2007- Professionally inspected - All aspects fully functioning and in good condition per the inspection report.
Repairs Made :carpet (and pad) completely replaced twice
Carpet cleaned on each tenant turnover
partial floor tile replacement in 2012
gutter cleaning every year
repainted (interior) after every other tenant
replaced HVAC unit
replaced water heater (40gallon)
replaced three ceiling fans
replaced 2 bathroom surrounds
replaced 2 vanity stands & sinks
replaced bathroom vinyl floors
replaced back door
change locks with each tenant change
floor repair - 4 x4 section
replaced smoke detectors
insect treatment - 2 (inside)
carpenter bee treatment -1 (outside)
stove replaced (1)
Garbage disposal replaced (2)
Kitchen Cabinets partially replaced
yard service and landscape (every 3 years)
replaced two sets of toilet internal pieces
replaced towel racks
replaced all window screens (1 time)
external pressure washing
2 bathroom sink faucets replaced
1 toilet replaced
i kitchen faucet replaced
2 internal door repairs
Utility costs between occupancy
Vacancy expense between tenants and during repairs
Roof repairs - wind removed ridge shingles
Annual gutter cleaning
Faucet and toilet leaks and failed internal parts.
Considerations for investment purchase
What is your strategy?
What can you tolerate?
What are you willing to risk?
What are you intending to invest?
Home buying and real estate comments and detailed information are posted here:
What makes for a solid investment area?
How do you select a house for purchase?
How can a "passed - over" house be a great investment?
How many investors think about their exit strategy?
This question is why people need an investment advisor. It is also a question that requires some thought and consideration to answer and structure the optimum exit.
It IS NOT as simple, as just selling the house or converting the investment to cash.
Call me 615-545-9621 or email for more firstname.lastname@example.org
Considerations in Real Estate Investment
Selecting a Home
Why are you buying? What is your motivation?
What are your goals for your purchase?
What is your EXIT STRATEGY?
(contact me - 615-545-9621)
(explanation near bottom of page)
How does one effectively and efficiently manage investment properties?
How does an investor select the best management company?
What is your exit strategy? - Process for selling the property with least expense and income loss.