Monday, January 17, 2005

It Didn't Take Long, Folks...

The first day my tenants spent in their new home didn't go as well as I had hoped. I got a call on Monday morning that there was a gas leask. The flex hose behind the stove broke...and also the dryer doesn't heat up.

Normally I would do the flex hose myself (simple job) but I am unavailable today (darn J-O-B) so now I have to spend money. It's a holiday (MLK) today so getting someone wasn't easy. I finally got hold of an appliance service company to show up.

The total bill was:$451

I feel bad for the tenants - I hope they don't think they rented a dump (because it's not!), it's just some of the appliances are a little old. The interesting thing is that all of this stuff worked in the inspection when I bought the place, and subsequently when I checked it recently.

Saturday, January 15, 2005

Tenants - FINALLY

OK. I Finally got some tenants via another RE agent. Dealing with agents is kind of a pain in leasing situations and I'm not sure I'll do it again. The only good thing was that this agent is related to the tenants and I have her number :-)

Anyway - I came down a little in rent to accommodate them (a young couple with new baby) and they seem quite nice. I feel confident that they will take decent care of the place. Unfortunately the first month's rent goes to the agent as commission. So starting March I will receive full rent.

This has at least stopped the bleeding. The few dollars a month I will make in profit I'm sure will be used on maintenance. the place needs newer appliances and a screen door.

Friday, January 14, 2005

FREE Best Selling Book - One Minute Millionaire

To Get a FREE Copy of the One Minute Millionaire Book by Robert Allen and Mark Victor Hansen go to

Tuesday, January 04, 2005

Free Mortgage Tutorials

Here is a link of a very good mortgage tutorial site. It discusses Interest Only, LIBOR, and other ARMs, as well as when to refi and other key concepts.

Sunday, January 02, 2005

New REI Booklet

I got the REI Kickstart PDF book from the site the other week. It is like drinking from a firehose! While it is mostly a list of URLs, it would take months (or longer) to find all this stuff myself and organize it so nicely. The price is right at only $3!! One of the best features was the list of places to get inexpensive and detailed Comps (CMAs).