Artwork

Inhoud geleverd door BiggerPockets. Alle podcastinhoud, inclusief afleveringen, afbeeldingen en podcastbeschrijvingen, wordt rechtstreeks geüpload en geleverd door BiggerPockets of hun podcastplatformpartner. Als u denkt dat iemand uw auteursrechtelijk beschermde werk zonder uw toestemming gebruikt, kunt u het hier beschreven proces https://nl.player.fm/legal volgen.
Player FM - Podcast-app
Ga offline met de app Player FM !

382: The REAL Cost of Bad Tenants and “Cheap” Contractors (Mistakes to Avoid!) w/Dan Stowell

44:04
 
Delen
 

Manage episode 407878000 series 2632451
Inhoud geleverd door BiggerPockets. Alle podcastinhoud, inclusief afleveringen, afbeeldingen en podcastbeschrijvingen, wordt rechtstreeks geüpload en geleverd door BiggerPockets of hun podcastplatformpartner. Als u denkt dat iemand uw auteursrechtelijk beschermde werk zonder uw toestemming gebruikt, kunt u het hier beschreven proces https://nl.player.fm/legal volgen.

Want a successful, cash-flowing rental property? Make sure you don’t overlook the tenant screening process or hire the “cheap” contractor. Otherwise, you could be dealing with floods, evictions, project delays, and other issues. Fortunately, today’s guest has already dealt with these headaches so that YOU don’t have to!

Welcome back to the Real Estate Rookie podcast! Investor Dan Stowell has endured not one but TWO horror stories during his real estate journey. As you’re going to learn today, the consequences of placing a bad tenant or hiring the wrong contractor can be severe. After a tenant caused $47,000 in water damage (and didn’t have renters insurance!) and a renovation on his primary residence turned into a 1,000-day rehab, Dan had every reason to give up on real estate investing. Instead, he tackled each challenge and used these expensive lessons to make him an even better investor!

In this episode, Dan offers several tips that will prepare you for anything that could be thrown your way. You’ll learn how to screen a tenant, how to avoid bad contractors, and, most importantly, how to react when things go south. Stay tuned until the very end to find out what became of Dan’s problematic properties!

In This Episode We Cover:

How Dan survived $47K in water damage and a 1,000-day rehab (on two different projects!)

The REAL cost of placing a bad tenant in your rental property

How to improve your tenant screening process (and red flags to watch out for!)

The BEST way to build out a scope of work for your next rehab project

Why you shouldn’t hire the “cheap” contractor for your home renovation project

Why documentation is key when dealing with tenant and contractor issues

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Apply to Be a Guest on the “Real Estate Rookie” Podcast

The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong

Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property

How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability

Connect with Dan

Dan's BiggerPockets Profile

Dan's Instagram

Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-382

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

429 afleveringen

Artwork
iconDelen
 
Manage episode 407878000 series 2632451
Inhoud geleverd door BiggerPockets. Alle podcastinhoud, inclusief afleveringen, afbeeldingen en podcastbeschrijvingen, wordt rechtstreeks geüpload en geleverd door BiggerPockets of hun podcastplatformpartner. Als u denkt dat iemand uw auteursrechtelijk beschermde werk zonder uw toestemming gebruikt, kunt u het hier beschreven proces https://nl.player.fm/legal volgen.

Want a successful, cash-flowing rental property? Make sure you don’t overlook the tenant screening process or hire the “cheap” contractor. Otherwise, you could be dealing with floods, evictions, project delays, and other issues. Fortunately, today’s guest has already dealt with these headaches so that YOU don’t have to!

Welcome back to the Real Estate Rookie podcast! Investor Dan Stowell has endured not one but TWO horror stories during his real estate journey. As you’re going to learn today, the consequences of placing a bad tenant or hiring the wrong contractor can be severe. After a tenant caused $47,000 in water damage (and didn’t have renters insurance!) and a renovation on his primary residence turned into a 1,000-day rehab, Dan had every reason to give up on real estate investing. Instead, he tackled each challenge and used these expensive lessons to make him an even better investor!

In this episode, Dan offers several tips that will prepare you for anything that could be thrown your way. You’ll learn how to screen a tenant, how to avoid bad contractors, and, most importantly, how to react when things go south. Stay tuned until the very end to find out what became of Dan’s problematic properties!

In This Episode We Cover:

How Dan survived $47K in water damage and a 1,000-day rehab (on two different projects!)

The REAL cost of placing a bad tenant in your rental property

How to improve your tenant screening process (and red flags to watch out for!)

The BEST way to build out a scope of work for your next rehab project

Why you shouldn’t hire the “cheap” contractor for your home renovation project

Why documentation is key when dealing with tenant and contractor issues

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Apply to Be a Guest on the “Real Estate Rookie” Podcast

The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong

Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property

How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability

Connect with Dan

Dan's BiggerPockets Profile

Dan's Instagram

Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-382

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

429 afleveringen

すべてのエピソード

×
 
Loading …

Welkom op Player FM!

Player FM scant het web op podcasts van hoge kwaliteit waarvan u nu kunt genieten. Het is de beste podcast-app en werkt op Android, iPhone en internet. Aanmelden om abonnementen op verschillende apparaten te synchroniseren.

 

Korte handleiding