I know when I lived in Oregon there was a 5 year limit for carpet or something so they couldn’t charge your deposit for the carpet after small certain amount of time regardless of the carpet warranty.
most humans dont know quality/craftmanship over poor quality. Price is there only factor which is wrong. There are many grades of vinyl flooring much like there is a JANKA spectrum for hardwood flooring. The vinyl floors are becoming the NEW fad in waterproof flooring. Read the warrentty the FINE print that you need a microscope to read. Standing Water has to be removed certain time frame- documented, excludes floods and depending the underlayment your inhibiting mold/mildew bacteria if not properly dried and or removed and replaced. This goes for most flooring other than acid wash/sealant on concrete foundation- ultimate waterproof flooring IMO because its NOT another flooring- its finishing your foundation which most residential people dont want. Lastly 80% of floating floor installers dont know what there doing with improper installation from no expansion joint (perimeter), poor transitioning between rooms, using glue (when its not a glue together floating floor), improper or no underlayment, uneven foundation/underlayment NOT GOING OFF the 1/4 in national flooring standards nwfa.org/nofma.aspx
I agree with over improving ideas. I'm selling my home in a few months and I already know I over spent BUT I am doing the most of the work myself while doing it right and looking great and more modern. Now investing in rentals next it will be difficult not to overspend. Definitely need a game plan and time to tackle it.
In Australia you “might” get a dishwasher, but never a fridge or washing machine. Sometimes an apartment will have a drier, but most people just hang their clothes out to dry on the line - driers are more of an American thing.
Appreciate your insight. I'm personally tired of reno's and tenants. Looking to move on to more passive income such as land contracts and lease to own. Do you see yourself going in that direction? What would be some insight you could offer with regards to strategies where you play the banker?
I agree she really explains everything in a way that everyone can understand. As does Kevin! The only problem is that Lauren doesn't have 99 Construction on RuneScape, and she doesn't have all of Cortana's lines in Halo 1 memorized, which are both extremely important for real estate investment and contracting work.
As a rehabber of almost 40 years and a Stager of 30 years, I call the upgraded light fixtures, ceiling fans and cabinet pulls, the jewelry for the house!! Let me explain, every woman knows walking out the door the most important part of your outfit is the shiny jewelry :-) it complements the house so beautifully and it's the thing the woman always recognizes first. Please please if you do nothing else add another $30 per light fixture in the main areas including the hallways! You have no idea how much faster your house will rent before the others :-) that's also how you're going to get top rent. I also do that in my airbnb's :-) have a great day
That $1.68 vinyl plank isn't slumlord because of the color (they have other colors available online) It's slumlord because that shit is made poorly, with thin wear layer.
That's not been my experience at all. Maybe you're mistaking laminate for vinyl plank??? When I bought my house (in a warm, humid climate) it had hardwood flooring. It was in bad shape: scuffed, scratched, and warped, and it was less than a decade old. I lived with it for several years, watching it get worse and worse. When I was able and considered replacing it, did a lot of homework first---even considered just carpeting over it as the cheapest alternative. Finally settled on vinyl plank. 6 years later, and I could not be happier. Looks just like the day it was installed. Nearly impossible to scratch, looks just like hardwood. Impervious to water, cleaners, harsh chemicals like bleach, etc. Color hasn't faded. Still have guests mistake it for hardwood.
The difference between landlord & slumlord- •Landlords offer you the basics (including fridges) & keep your rental functioning properly & does proper upkeep of the buildings & systems & handle problems as soon as possible. They will also upgrade materials as needed to ensure the problems don't continue to reoccur if the inferiority of the materials initially used was a problem. •Slumlords will cut some incredible corners, used faulty, inferior material that doesn't stand up to regular wear & tear, will hire cheap, unlicensed labor to do repairs & use systems that aren't up to the task they were bought for such as using a water heater suitable for a quadruplex in a 25-unit building & they will wait until the city sends them a violation from inspection before they do replace it with an equally inferior duplicate because that will cost them less money in the long run
In the Bay Area apartments come with refrigerators. it's insane to not have one. Who's buying and carrying a fridge from rental to rental? That's just ridiculous.
Most HOUSES not apartments require you to get your own refrigerator. People tend to rent the same house for a longer time than apartment dwellers rent.
I've spent a lot of money on my appliances, when I move they come with me.. Edit: I just want someone else's shit in my space, and I don't care for basic appliances.
Kevin- this is the second video I’m seeing within Lauren. (The first was you two going to Miami. Discussing the potential AIRBnB property) My guy, she is simply AMAZING!!! She should have her own channel. She has a beautiful, knowledgeable delivery style. No hype. Just facts. Psssttttt..I like how you speak to her. I can feel your love and RESPECT for her. I can see it. -Duke 🇺🇸🇿🇦
I don't the 25 pt cut will be enough. IMHO, I would wait for the next recession that look for properties selling at a discount. Normally Recessions occur every 7 years, and currently the last recession is now over 10 years. Odds favor a recession will happen sooner than later. In a recession you have a bigger selection of properties and the will likely sell at a discount. You just need some patience.
One weird idea I had for a rental property is just putting drains everywhere I can. As in, a secondary drain in the corner of the bathroom in case the toilet overflows, one in the kitchen, etc. Sometimes properties are damaged by purposeful vandalism but there is also just things like an overflowing toilet or similar that can cause problems. BTW, one tip I found for the under the sink problems. Use 1/4" Hardibacker tile board instead of luan/plywood. You can score and snap to cut it, and it's water resistant/not deformed by water, so it won't warp. I've used it as well to repair Masonite garage door panels, too. I'm a contractor and a lot of my work is polishing rental turds.
GilBatesLovesyou I have seen kitchen cabinets in new construction have stainless steel pans under the sink cabinet now. May be an option worth getting.
TheFNASSHOLE or you spend $10 on a silicone drain seal www.amazon.com/Backflow-Preventer-Toilet-Bathroom-Silicone/dp/B075WRS7VW/ref=pd_aw_fbt_60_img_3/135-0659149-0242546?_encoding=UTF8&pd_rd_i=B075WRS7VW&pd_rd_r=8210bf5e-e055-4038-9ed2-319b15835d6d&pd_rd_w=aaIWL&pd_rd_wg=Qw4uP&pf_rd_p=0bda97b1-9615-4960-b748-b906a3521083&pf_rd_r=34G6JWNJQJ8VPEMZKYMV&psc=1&refRID=34G6JWNJQJ8VPEMZKYMV
So this video is not really for homeowners who want to invest in their property and see those returns when selling. This video is for people who want to spend $1 and rip someone off for $2. I fell for the clickbait...sigh
Neil Seifried 100% agree. If it has a water line connection I want to know that it is a solid machine and installed properly. A leak can cause costly damage to the property.
Seems like this is a case of having to know your market. Northeast USA almost every apartment has a fridge, except very low end properties. In Tennessee I have seen kitchens have NO appliances, not even a stove include. Apparently an extreme example is Germany, where the entire kitchen isn't even provided, not even the cabinets. It's just an empty room. Know the custom where you are, and provide what's expected.
You started with good recommendation until you said carpet is good for bedrooms. I manage over 200 tenants and carpet never worked out to be a benefit. Vinyl planks is the way to go.
Definition of slum lord in CA is waaaaay different than what I think! I have laminate square tiles from early 2000s and plastic blinds in my apartment and think its acceptable! LOL
@@Eric3Frog sorry, my apartment as in the one I live in. They are probably a or b in Cleveland ohio suburbs. I dont see them as outdated really. Its just 'rental grade"
In my apartment i have everything from 80s.. and i get top money for it :)) ~350feet2 330eu, so almost 400$.. this is in Slovenia small city (6000 people) where min wage is 700eu/month and many people actually are paid min wage, unlike USA. It is crazy imo but I don’t complain. And it is all because city doesn’t make more land available for big complex buildings. If they give me cheap land i can build a complex and rent place like mine for 200eu. And this is very left wing city, they are supposed to look after poor.. but they don’t even understand basic economics probably.
I am surprised about "no frig". I have lived in 4 different states and rentals always had a frig. With washers and dryers, I have seen provide your own or included.
It's a California thing, especially in the LA/SoCal market. Landlords aren't required by law to provide them, and much like washers and dryers don't want to be responsible for the maintenance and cleaning of them.
This is a video you have to watch a few times and take notes. We gonna need some more examples too by the way. This video was very informative Side note: love her! Goes to show picking the right person on your team is super important. Marry someone who wants to build with you not just wait for you to come home
I've never heard of people moving around with their own washer/dryer and refrigerator. Maybe because I'm in MA and if you didn't have a refrigerator good luck renting the apartment. Same as a washer/dryer, I've never seen renters with their own. The apartment has to either have in-unit or the property has a common laundry room. Again this is in MA, I guess that's normal in CA.
You have to supply your own large appliances when you rent in CA?!? Well, I have learned something new. In North Carolina, folks would be confused if they were renting a place with no fridge. Lol, Wow.
I’m from WI and it’s actually pretty common that you have to supply your own appliances in duplexes or single family homes. Not apartment units though.
The fridge thing happens here in LA. So not only are you paying 1.5k for your one bedroom apartment but you have to buy a fridge if you didn’t have one already. Not all apartments have washer/dryer in unit itself.
@@cciphotos : dang. I'm in north utah and decades ago the wife and I rented a duplex while building our 1st house and it.had a.fridge only. That's been my only "tenant" exp. But regardless, I wouldn't feel right making my tenants have to deal with a fridge so I just provide that.
Depends where you live. Here renter supplies those items. We found if we supplied them then tenants would come alone and have their own and want to use theirs.. they would put our stuff on the porch to storage etc. Or they would want us to take out our stuff for theirs and we would have to store it
In my area, no fridge means no rent. I dont know of a single unit anywhere that doesnt include one. They come in different sizes and I'd be super annoyed to limit my options to units with a compatible sized fridge space.
I really appreciate these renovation videos. You are the only channel I can find that makes great quality content about the specifics of renovations. I appreciate you
This is a little weird. Where I'm at "slum lords" mean 1970s asbestos tiles, a 1960s oven, and original wood windows with cracked shellac all over them with everything else being painted with the cheapest $15 a gallon Glidden paint from Home Depot with runs and blobs all over everything on top of wallpaper they were too lazy to remove. Make sure any holes in the drywall are patched super conspicuously as well and not sanded down either, that's a lot of work, that sanding stuff.
LOWES store # 1726 PH.#205-981-4100 recently fired a woman front line worker,she worked there over 17 yrs. without ever getting a "write up",yet when a customer explained to her why they didn't need to wear a mask inside this store,as they already have the CV-19 virus,Causing great fear in fired employee because her 89 yr. old mother could be killed by "the virus".It seems,LOWES is money grubbing over safety of employees or the public?Please call this store manager to find out yourself ,Why wont LOWES provide the virus test or Why fire employees asking about getting one?This brave woman now has no income or health insurance so please,as she was there for the public,public please be there for her.Stay safe,share this warning and why shop at a place that cares less for safety of employees?Thank you.
Kevin bro, don't sue me, but I will try to save you from a lot of people suing you...Hope you get to read this comment to save your entire life and fortune... Just because you made money in the past 2 decades on Real estate and the Stock Market, that doesn't mean the next 2-3 decades will produce the same results. Please stop advising people to do the exact same thing that worked for you int he past 2 decades, because the ECONOMY and the FREE MARKET are CYCLICAL(that means things flip and flop to the total opposite every decade or few). Don't sue me bro, but here is the advice that will save your life and your life savings, in the next decade or two, please consider this: # 1.) You may have gotten rich in the stock market boom in the past 2 decades, but in the next decade or two the baby boomers (the largest generation by number) will finish retiring and take out MANDATORY minimums from their 401K savings, I repeat MANDATORY, that is MANDATORY selling pressure from the stock market, so STOP advising people that they cannot lose on the stock market (the boomers - the largest by number will be selling, and millennials even if they love the stock market -which they don't, nor do they have the jobs or money to invest in it, they don't even have the numbers of population to compete with the selling pressure that the population of baby boomers will create) ! AND # 2.) You may have gotten rich in the Real estate market boom in the past 2 decades, but in the next two - three decades, the baby boomers (the largest generation by number in history) will start dying, and their houses will go up for sale, and the millenials do not have the numbers (they are like the lowest generational population by numbers) to cover this selling pressure, for each 1 millenial that wants to buy a house, there will be 5-6 baby boomers dead and selling houses. No do your math and perhaps reconsider your strategy, the next 2 -3 decades will not be exactly the same as the past 2-3 did, I am happy for you that you got rich, but the same strategy will not make people rich in the next 2-3 decades. And consider, I didn't mention any other things, like the whole world ditching the US dollar as reserve currency, or how we do not have a manufacturing sector anymore, or how China is more advanced in every sector of tech (hence the 5G wars), etc... So I kept it strictly to our own internal problems and MATH you cannot deny, even though there is much more bad news than what I outlined here, so consider your advice to buy real estate and stocks forever and in all times and without consideration of CYCLES int he markets to be inaccurate for some decades (as they are good advice for some other decades)!
These guys are slumlords. Around the 7 minute mark they start talking about a security deposit reduction to pay for carpet. Maybe I am wrong and this is some really wrong regional quirk? I certainly would never sign a lease with carpet replacement built in. Paying for carpet cleaning is normal. If you put in cheap carpet and the tenant wears it down that's normal wear and tear and 100% on the landlord. Don't be a victim folks. Have I misunderstood what they mean by "security deposit reduction"?
Kevin, please always caveat your comments on energy efficient windows type stuff that you live in California.. as someone who lives in Wisconsin I'm always going to spend a little extra on double paned windows!
i have rentals that i accept dogs and i get 300 per month more than neighboring rentals because of this. renters prefer i don't replace carpet or floors since they worry they would be charged for damaged. my renters stay on average 5 years, all my rentals are under 17 years old. also offer to pay for carpet cleaning each year for free. most times the tenants shedule it themselves and send me the bill. be honest and work with renters. mine also get 100 dollar gift card for Christmas after i do all my yearly walk through first week of December.
Vinyl flooring is just easier and cheaper but not the same as porcelain tiles come on. You get what you pay for in vinyl flooring, tops it would last 2-3 years if the tenant is good but if the tenant has a dog and kids throwing food on the floor every day, then good luck having that last a year.
Do you guys not know what a slumlord is? Having the wrong color floor does not make you a slumlord, having mold issues or leaks or something that you dont fix while still charging ridiculous rent is being a slumlord
Good info but was a LOT OF FLUFF. To summarize: buy quality fixtures/appliances (if aplicable) for your home that will become a future rental. Don’t over spend on blinds, fixtures, cabinets, paint instead of replace, look for floor models or appliances with small dents, scratches or defects. Stick to the earthy tones, don’t narrow your potential cliental. Honestly, pretty basic and simple stuff. One more tip: get a Lowe’s card to save on costs of renovation materials.
yea but most people are literally retarded so i guess he caters to the general public, this is common sense of course but that's getiing more and more uncommon.
Didnt watch it full before commenting im literally debating in a home depot parking should I paint the baseboards the same color as the walls answered it Thnks you guys are amazing
Having someone with this type of knowledge for your first rental is invaluable. We saved so much money having our realtor (aka mom-in-law) help us make our first rental renter-friendly which meant saying "no" to a lot of our design choices which we thought looked good, but would be considered unnecessary overspend. We even considered an entire remodel on our kitchen just because it looked a little dated!
Almost all people I've met in rental property mgmt in Floriduh are C-H-E-A-P and rarely pay their bills on time, even if they can. They also don't pay their contractors well. 80/20 rule applies - the cheap ones that cut corners are likely the 80% of what you find in Floriduh. Then you've got the foreign syndicates (from Israel and others) that buy up bottom of the market properties, charge top dollar to low credit households and fail to put $ into the property, which pulls down the value of neighbors. See 'em all over Southeast Floriduh!
Stupid thing people do Shopping at Lowes. Lowes has terrible prices and is always more expenaive than home depot and especially menards. Next Lowes has made really stupid mistakes lately. 1: They got rid of Kobalt and went with Crapsman tools. Craftsman used to be good when it was exclusive to Sears and was made in the USA. Now its garbage shit made in China. Kobalt was a solid line of tools made in Taiwan by Apex tools (Gearwrench etc). 2: They refuse to price match Amazon. Dumb. 3: Their prices are much more expensive than Home Depot and Lowes. 4: selection is worse. Classic example is electrical department; lowes charges 10-15% more than Home Depot for conduit fittings etc.
It really depends on what's on sale at that time. Sometimes it's better to buy from Home Depot or Amazon if they have better deals like on Black Friday.
Now i know why all the apartments have sow chip stuff in and junk stuff :(( thanks 🙏 :((, now if you even to buy a house remodel to you have to watch for this stuff:((
My tenants left a huge black stain on the light colored carpet when they left. I had Zerorez come to clean the carpets. They didn't say anything going in but that stain was completely gone. They had a pretty good idea that's what would happen but didn't want to promise anything just in case. I had put in really cheap, very stain resistant carpet. It was basically made of plastic so the stain couldn't actually soak into anything so it could be sucked right off. That's also an important consideration, what the carpet is actually made of. That has a big impact on whether stains go away or just fade a bit with professional cleaning.
I completely agree, even with your 1st video on this subject. But I have only one thing to say. I rented a house that had extremely cheap countertops, floors, etc. It was extremely hard to take care of, and it seemed like the owners would just replace everything with a new tenant, and just make the "tenant pay for it" felt cheated honestly. extra the countertops were one of those ikea ones, under a 100$ and they would stain for like no reason. the backyard had mulch in places, and didnt have a black tarp under. No way to control weeds.
This is gold for small potato landlords like myself. You answer all those nitty-gritty questions about what you should and shouldn't do to get a property ready to rent. Thank you!!
Is it though? It’s simply an alternative to paint right? Under the kitchen sink is usually not the prettiest area anyways. Most of the time it just holds cleaning supplies anyways. Besides, it’s WAY better than the wallpaper under the sink I peeled up in the house I just bought. Lol
In my opinion, slumlord just means deferring maintenance and providing an overall unclean & uncomfortable place to live with no intention on ever making improvements. Going out of your way to make the least opened cabinet look better isn’t very slumlordy. Like he said, it’s not like I’m covering up mold.
@@jordanpage176 no, listen to what he says tho, he doesnt just mean a water stain he means compromised wood, thats what he means when he says instead of replacing the wood that can be costly. That's slum lordy
arturo raygoza what difference does it make if it is covered over or painted over? I would rather put $ in another place that shows rather than under the sink. I think 90% of renters would agree with that.
What a cool video! Adding Lauren's take was a nice touch b/c she provided several great, objective insights. (I especially enjoyed her seemingly bashing the famous "Modern Farmhouse Style" on the basis of how fleeting it really is. To me it's overrated.) Additional Pro tip: Don't get your hardwood floors at Lowe's/HD!! (For your home, not your rental.) I respect getting the luxury vinyl and I would in a rental, but for my home? Definitely hardwood, as that's the kind of quality buyers in my area expect should we ever sell. Lastly, thanks for the reminder to NOT over-improve, even if we're in our forever home (which we are): It's important to remodel based on our realistic lifestyle and not today's trends.
Are there upgrades that don't increase the rent, but increase the appraised value more than they cost? For example I can get carpet/LVP for $2/sqft installed and tile/hardwood for $6/sft installed. A higher appraised value means more money out of the deal in a refinance. Or does carpet/LVP appraise equally to tile/hardwood in your market?
As a property manager of 200 units, she's absolutely correct on pretty much everything.
Wow im 18 years old and i want to become a real state investor and still don’t know where to start can you please give me advice and guide me?
@@556andybuy a house
Your a slumlord 👍
So what your saying is Pro's marry a property manager.
And hit their sweet spot....
He's soooooo hot
Montu4g63 and a supportive partner too 😊
Her sweet spot must be glorious!
Basically...
My gray shaker cabinet doors will hopefully be in style for the next 40 years.
Love the energy you guys bring. You have truly found your calling. Vielen Dank
Fact
I know when I lived in Oregon there was a 5 year limit for carpet or something so they couldn’t charge your deposit for the carpet after small certain amount of time regardless of the carpet warranty.
most humans dont know quality/craftmanship over poor quality. Price is there only factor which is wrong. There are many grades of vinyl flooring much like there is a JANKA spectrum for hardwood flooring. The vinyl floors are becoming the NEW fad in waterproof flooring. Read the warrentty the FINE print that you need a microscope to read. Standing Water has to be removed certain time frame- documented, excludes floods and depending the underlayment your inhibiting mold/mildew bacteria if not properly dried and or removed and replaced. This goes for most flooring other than acid wash/sealant on concrete foundation- ultimate waterproof flooring IMO because its NOT another flooring- its finishing your foundation which most residential people dont want. Lastly 80% of floating floor installers dont know what there doing with improper installation from no expansion joint (perimeter), poor transitioning between rooms, using glue (when its not a glue together floating floor), improper or no underlayment, uneven foundation/underlayment NOT GOING OFF the 1/4 in national flooring standards nwfa.org/nofma.aspx
You’re girls on the money Kevin 👍🏻 Good PM advise
I agree with over improving ideas. I'm selling my home in a few months and I already know I over spent BUT I am doing the most of the work myself while doing it right and looking great and more modern. Now investing in rentals next it will be difficult not to overspend. Definitely need a game plan and time to tackle it.
dual pane windows are often, but then again it depends on the area like you said. if 90% of the houses have it, tenants will expect it.
In Australia you “might” get a dishwasher, but never a fridge or washing machine. Sometimes an apartment will have a drier, but most people just hang their clothes out to dry on the line - driers are more of an American thing.
I miss these segments bring them back!
Appreciate your insight. I'm personally tired of reno's and tenants. Looking to move on to more passive income such as land contracts and lease to own. Do you see yourself going in that direction? What would be some insight you could offer with regards to strategies where you play the banker?
How do land contracts work? How do you make your profit?
Now I understand why I couldn't find any apartment that has good insulation.
- Well renter is going to pay for the heat and ac.
price + color does not make sense
I need Lauren to have her own RUclips channel about design and staging and investment properties for women! I’d subscribe
why does it have to be "for women"?
Are you for women and men to be segregated? I have a place that you will love: KINGDOM OF SAUDI ARABIA
@@eugenberzani1216 high hi
I'd watch Lauren everyday!
kinda stylish fuck you misandrist
You are a sexist, shut up.
You should have her on your channel more shes really on point
True
Agreed!
I agree! She’s a great edition. I wonder if my wife would want to be in one of my future RUclips real estate videos.
Lauren is wonderful. They really work well together. (Kevin, I hope you know how blessed you are 🙏🏼)
-Duke 🇺🇸🇿🇦
I agree she really explains everything in a way that everyone can understand.
As does Kevin!
The only problem is that Lauren doesn't have 99 Construction on RuneScape, and she doesn't have all of Cortana's lines in Halo 1 memorized, which are both extremely important for real estate investment and contracting work.
She definitely is a smart property manager. You are lucky 🙃
As a rehabber of almost 40 years and a Stager of 30 years, I call the upgraded light fixtures, ceiling fans and cabinet pulls, the jewelry for the house!! Let me explain, every woman knows walking out the door the most important part of your outfit is the shiny jewelry :-) it complements the house so beautifully and it's the thing the woman always recognizes first. Please please if you do nothing else add another $30 per light fixture in the main areas including the hallways! You have no idea how much faster your house will rent before the others :-) that's also how you're going to get top rent. I also do that in my airbnb's :-) have a great day
order Led pot lights on Amazon. 100$ / box for 10 pieces. Easy to install and fit anywhere , even directly over a joist.
She needs her channel she’s amazing bro! She knows her stuff!!!
That $1.68 vinyl plank isn't slumlord because of the color (they have other colors available online)
It's slumlord because that shit is made poorly, with thin wear layer.
Yes, absolutely. I will not rent a place that has that shit. It wears down fast, and then you're responsible for it.
That's not been my experience at all. Maybe you're mistaking laminate for vinyl plank??? When I bought my house (in a warm, humid climate) it had hardwood flooring. It was in bad shape: scuffed, scratched, and warped, and it was less than a decade old. I lived with it for several years, watching it get worse and worse. When I was able and considered replacing it, did a lot of homework first---even considered just carpeting over it as the cheapest alternative. Finally settled on vinyl plank. 6 years later, and I could not be happier. Looks just like the day it was installed. Nearly impossible to scratch, looks just like hardwood. Impervious to water, cleaners, harsh chemicals like bleach, etc. Color hasn't faded. Still have guests mistake it for hardwood.
@@ericspencer8093 Not all Vinyl planks are waterproof, you can buy $1.50 trash board or sit at like 1.90-2.30 for waterproof
The difference between landlord & slumlord-
•Landlords offer you the basics (including fridges) & keep your rental functioning properly & does proper upkeep of the buildings & systems & handle problems as soon as possible. They will also upgrade materials as needed to ensure the problems don't continue to reoccur if the inferiority of the materials initially used was a problem.
•Slumlords will cut some incredible corners, used faulty, inferior material that doesn't stand up to regular wear & tear, will hire cheap, unlicensed labor to do repairs & use systems that aren't up to the task they were bought for such as using a water heater suitable for a quadruplex in a 25-unit building & they will wait until the city sends them a violation from inspection before they do replace it with an equally inferior duplicate because that will cost them less money in the long run
So a million dollar house that has no fridge is slum.. got it thanks!:)
2:45 Wood can cost between $10 to $14 per foot while porcelain can cost ten..... To FOURTEEN dollars per foot.
Lol he slipped
That's is contractor installation cost and material combined.
Lauren: “Little sliver in the middle..” Kevin: “You mean like a “WEDGE”?
You found a keeper Kev. Lauren is legit.
@Jess White I know right 🙌
I’d love my wife to be friends with her.
-Duke 🇺🇸🇿🇦
He looks at her with puppy love eyes. Too cute.
In the Bay Area apartments come with refrigerators. it's insane to not have one. Who's buying and carrying a fridge from rental to rental? That's just ridiculous.
On the East Coast refrigerators are included! I've never heard of that...
@@corky8490 exactly! It's actually a legal requirement in most if not all cases
Most HOUSES not apartments require you to get your own refrigerator. People tend to rent the same house for a longer time than apartment dwellers rent.
Every area is different; some areas require refrigerator and stove some don't. It just depends on the area.
I've spent a lot of money on my appliances, when I move they come with me..
Edit: I just want someone else's shit in my space, and I don't care for basic appliances.
More of these!
Wow, slum lords sound awesome in California!
👏Now that’s a REAL power couple! Lauren definitely brings value to your content Kevin.
Uhhh, EVERY house I've rented (even in So Cal) ALWAYS includes the fridge, washer, and dryer.... I would pass up any house that doesn't include that.
Kevin- this is the second video I’m seeing within Lauren. (The first was you two going to Miami. Discussing the potential AIRBnB property)
My guy, she is simply AMAZING!!! She should have her own channel. She has a beautiful, knowledgeable delivery style. No hype. Just facts.
Psssttttt..I like how you speak to her. I can feel your love and RESPECT for her. I can see it.
-Duke 🇺🇸🇿🇦
Carpet is a sponge soaks up everything and it cannot be cleaned enough.
Interest rate cut by 25 basis points , let's hear your report Kevin, anxiously awaiting ...
Ray Phillips SAME!!! His first prediction was right
Indeed, Gave some good strength to the USD from what I have seen.
@@nw9801it was pretty obvious if you follow the markets
I don't the 25 pt cut will be enough. IMHO, I would wait for the next recession that look for properties selling at a discount. Normally Recessions occur every 7 years, and currently the last recession is now over 10 years. Odds favor a recession will happen sooner than later. In a recession you have a bigger selection of properties and the will likely sell at a discount. You just need some patience.
@@guytech7310 we are in a new era, expect the unexpected and dont based future outlooks on past performances
One weird idea I had for a rental property is just putting drains everywhere I can. As in, a secondary drain in the corner of the bathroom in case the toilet overflows, one in the kitchen, etc. Sometimes properties are damaged by purposeful vandalism but there is also just things like an overflowing toilet or similar that can cause problems.
BTW, one tip I found for the under the sink problems. Use 1/4" Hardibacker tile board instead of luan/plywood. You can score and snap to cut it, and it's water resistant/not deformed by water, so it won't warp. I've used it as well to repair Masonite garage door panels, too. I'm a contractor and a lot of my work is polishing rental turds.
GilBatesLovesyou I have seen kitchen cabinets in new construction have stainless steel pans under the sink cabinet now. May be an option worth getting.
TheFNASSHOLE or you spend $10 on a silicone drain seal
www.amazon.com/Backflow-Preventer-Toilet-Bathroom-Silicone/dp/B075WRS7VW/ref=pd_aw_fbt_60_img_3/135-0659149-0242546?_encoding=UTF8&pd_rd_i=B075WRS7VW&pd_rd_r=8210bf5e-e055-4038-9ed2-319b15835d6d&pd_rd_w=aaIWL&pd_rd_wg=Qw4uP&pf_rd_p=0bda97b1-9615-4960-b748-b906a3521083&pf_rd_r=34G6JWNJQJ8VPEMZKYMV&psc=1&refRID=34G6JWNJQJ8VPEMZKYMV
So this video is not really for homeowners who want to invest in their property and see those returns when selling. This video is for people who want to spend $1 and rip someone off for $2. I fell for the clickbait...sigh
Damn, I should have thought of this before I painted my room black and white.
Not marrying a smart 29-year old girl is a stupid mistake all homeowners make!
That's crazy that it is normal to not supply fridges and washer/dryers. Every place I've ever rented came with those but also never rented in ca
Neil Seifried 100% agree. If it has a water line connection I want to know that it is a solid machine and installed properly. A leak can cause costly damage to the property.
That’s usually a So-Cal thing. When I moved from the Bay Area to the LBC, none of the apartments came with fridges. I was so shocked.
Seems like this is a case of having to know your market. Northeast USA almost every apartment has a fridge, except very low end properties. In Tennessee I have seen kitchens have NO appliances, not even a stove include.
Apparently an extreme example is Germany, where the entire kitchen isn't even provided, not even the cabinets. It's just an empty room. Know the custom where you are, and provide what's expected.
@@joijackson-morgan6128 😳😲😖
Its DISGUSTIMG to use other peoples washer and drier and fridge! 😝🤤
You started with good recommendation until you said carpet is good for bedrooms. I manage over 200 tenants and carpet never worked out to be a benefit. Vinyl planks is the way to go.
Kevin, the 6 commercials. They're killing me. Why
Revenue.. So he can make a few bucks off of your view...
13:44 Lauren: "You put in the fixtures, whatever is most popular.."
Kevin: "Boobs?"
_Lauren_ _keeps_ _a_ _straight_ _face_ 🤣
Definition of slum lord in CA is waaaaay different than what I think! I have laminate square tiles from early 2000s and plastic blinds in my apartment and think its acceptable! LOL
Where are your properties? And, are they A B C or D properties, for your area?
@@Eric3Frog sorry, my apartment as in the one I live in. They are probably a or b in Cleveland ohio suburbs. I dont see them as outdated really. Its just 'rental grade"
Facts I'm from Cleveland
In my apartment i have everything from 80s.. and i get top money for it :)) ~350feet2 330eu, so almost 400$.. this is in Slovenia small city (6000 people) where min wage is 700eu/month and many people actually are paid min wage, unlike USA.
It is crazy imo but I don’t complain. And it is all because city doesn’t make more land available for big complex buildings. If they give me cheap land i can build a complex and rent place like mine for 200eu. And this is very left wing city, they are supposed to look after poor.. but they don’t even understand basic economics probably.
Shopping cart wheels
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One day...
I will relate to this video :)
@@manictiger :O imagine investing that $40K
@@cherrytung he did... in a chandelier
Ryan Fry let’s hope it gives good returns
I am surprised about "no frig". I have lived in 4 different states and rentals always had a frig. With washers and dryers, I have seen provide your own or included.
It's a California thing, especially in the LA/SoCal market. Landlords aren't required by law to provide them, and much like washers and dryers don't want to be responsible for the maintenance and cleaning of them.
I haven’t heard that either and I’ve lived in NYC for 7 years lol
If I see one more grey stain ish "luxury" plastic floor I will puke! Sorry lol
Installing in my house, just for you. And, since it's vinyl, it'll be an easy clean up for your vomit.
@@Eric3Frog uh...Thank you (?)
@@Hifromkate1 I am having 4000sqft of Grey 'wood' lvp installed in my new house. 😉
@@Eric3Frog I'm sure it will look great. Usually my puke reflex to that flooring comes from knowing a flipper got the before I did LOL
What do you suggest? Genuine question cause I’m getting sick of the gray flooring too but idk what the next trend will be
I see ovens (decent ones, rental grade) on craigslist for like $200, opinion on buying one??
I get mine at a refurbished place oven plus fridge 600
Make sure u have warranty or at least pay for home warranty
This is a video you have to watch a few times and take notes. We gonna need some more examples too by the way. This video was very informative
Side note: love her!
Goes to show picking the right person on your team is super important. Marry someone who wants to build with you not just wait for you to come home
I've never heard of people moving around with their own washer/dryer and refrigerator. Maybe because I'm in MA and if you didn't have a refrigerator good luck renting the apartment. Same as a washer/dryer, I've never seen renters with their own. The apartment has to either have in-unit or the property has a common laundry room. Again this is in MA, I guess that's normal in CA.
Dark floors are going to be out of fashion fast, just saying. Warm wood is timeless
Dark wood or not have anywhere to live ?
You have to supply your own large appliances when you rent in CA?!? Well, I have learned something new. In North Carolina, folks would be confused if they were renting a place with no fridge. Lol, Wow.
It's new to me, I've always supplied the fridge
We want more of Lauren!! 🤩 💰
Tenants supply the fridge and the washer/dryer? That does sound slum lord-y.
Owner should supply fridge for sure. I'm torn though on supplying a washer and dryer to my tenants
I’m from WI and it’s actually pretty common that you have to supply your own appliances in duplexes or single family homes. Not apartment units though.
The fridge thing happens here in LA. So not only are you paying 1.5k for your one bedroom apartment but you have to buy a fridge if you didn’t have one already. Not all apartments have washer/dryer in unit itself.
@@cciphotos : dang. I'm in north utah and decades ago the wife and I rented a duplex while building our 1st house and it.had a.fridge only. That's been my only "tenant" exp. But regardless, I wouldn't feel right making my tenants have to deal with a fridge so I just provide that.
Depends where you live. Here renter supplies those items. We found if we supplied them then tenants would come alone and have their own and want to use theirs.. they would put our stuff on the porch to storage etc. Or they would want us to take out our stuff for theirs and we would have to store it
Even though I don't have Lowe's in Romania, I still find the information really useful! Thank you, Sir! 🙏
Brickodepot
Ron & Brenda G da
In my area, no fridge means no rent. I dont know of a single unit anywhere that doesnt include one. They come in different sizes and I'd be super annoyed to limit my options to units with a compatible sized fridge space.
Regarding the windows, it really depends on the climate you live.
I really appreciate these renovation videos. You are the only channel I can find that makes great quality content about the specifics of renovations. I appreciate you
This is a little weird. Where I'm at "slum lords" mean 1970s asbestos tiles, a 1960s oven, and original wood windows with cracked shellac all over them with everything else being painted with the cheapest $15 a gallon Glidden paint from Home Depot with runs and blobs all over everything on top of wallpaper they were too lazy to remove. Make sure any holes in the drywall are patched super conspicuously as well and not sanded down either, that's a lot of work, that sanding stuff.
Exactly, painted hinges and electrical plates, drips on linoleum tiles etc
@@williamhinshaw6838 I guess cheapo contractors, but sometimes it's in house maintenance teams.
Did you never buy her a wedding or engagement ring? (why buy a ring when I can buy more property?!) :P
LOWES store # 1726 PH.#205-981-4100 recently fired a woman front line worker,she worked there over 17 yrs. without ever getting a "write up",yet when a customer explained to her why they didn't need to wear a mask inside this store,as they already have the CV-19 virus,Causing great fear in fired employee because her 89 yr. old mother could be killed by "the virus".It seems,LOWES is money grubbing over safety of employees or the public?Please call this store manager to find out yourself ,Why wont LOWES provide the virus test or Why fire employees asking about getting one?This brave woman now has no income or health insurance so please,as she was there for the public,public please be there for her.Stay safe,share this warning and why shop at a place that cares less for safety of employees?Thank you.
Kevin bro, don't sue me, but I will try to save you from a lot of people suing you...Hope you get to read this comment to save your entire life and fortune... Just because you made money in the past 2 decades on Real estate and the Stock Market, that doesn't mean the next 2-3 decades will produce the same results. Please stop advising people to do the exact same thing that worked for you int he past 2 decades, because the ECONOMY and the FREE MARKET are CYCLICAL(that means things flip and flop to the total opposite every decade or few). Don't sue me bro, but here is the advice that will save your life and your life savings, in the next decade or two, please consider this: # 1.) You may have gotten rich in the stock market boom in the past 2 decades, but in the next decade or two the baby boomers (the largest generation by number) will finish retiring and take out MANDATORY minimums from their 401K savings, I repeat MANDATORY, that is MANDATORY selling pressure from the stock market, so STOP advising people that they cannot lose on the stock market (the boomers - the largest by number will be selling, and millennials even if they love the stock market -which they don't, nor do they have the jobs or money to invest in it, they don't even have the numbers of population to compete with the selling pressure that the population of baby boomers will create) ! AND # 2.) You may have gotten rich in the Real estate market boom in the past 2 decades, but in the next two - three decades, the baby boomers (the largest generation by number in history) will start dying, and their houses will go up for sale, and the millenials do not have the numbers (they are like the lowest generational population by numbers) to cover this selling pressure, for each 1 millenial that wants to buy a house, there will be 5-6 baby boomers dead and selling houses. No do your math and perhaps reconsider your strategy, the next 2 -3 decades will not be exactly the same as the past 2-3 did, I am happy for you that you got rich, but the same strategy will not make people rich in the next 2-3 decades. And consider, I didn't mention any other things, like the whole world ditching the US dollar as reserve currency, or how we do not have a manufacturing sector anymore, or how China is more advanced in every sector of tech (hence the 5G wars), etc... So I kept it strictly to our own internal problems and MATH you cannot deny, even though there is much more bad news than what I outlined here, so consider your advice to buy real estate and stocks forever and in all times and without consideration of CYCLES int he markets to be inaccurate for some decades (as they are good advice for some other decades)!
These guys are slumlords. Around the 7 minute mark they start talking about a security deposit reduction to pay for carpet. Maybe I am wrong and this is some really wrong regional quirk? I certainly would never sign a lease with carpet replacement built in. Paying for carpet cleaning is normal. If you put in cheap carpet and the tenant wears it down that's normal wear and tear and 100% on the landlord. Don't be a victim folks. Have I misunderstood what they mean by "security deposit reduction"?
Kevin, please always caveat your comments on energy efficient windows type stuff that you live in California.. as someone who lives in Wisconsin I'm always going to spend a little extra on double paned windows!
First mistake was shopping at Lowe's (or Home Despot). Lots of cheaper places that have stuff just as good.
i have rentals that i accept dogs and i get 300 per month more than neighboring rentals because of this. renters prefer i don't replace carpet or floors since they worry they would be charged for damaged. my renters stay on average 5 years, all my rentals are under 17 years old. also offer to pay for carpet cleaning each year for free. most times the tenants shedule it themselves and send me the bill. be honest and work with renters. mine also get 100 dollar gift card for Christmas after i do all my yearly walk through first week of December.
Vinyl flooring is just easier and cheaper but not the same as porcelain tiles come on. You get what you pay for in vinyl flooring, tops it would last 2-3 years if the tenant is good but if the tenant has a dog and kids throwing food on the floor every day, then good luck having that last a year.
Do you guys not know what a slumlord is? Having the wrong color floor does not make you a slumlord, having mold issues or leaks or something that you dont fix while still charging ridiculous rent is being a slumlord
Good info but was a LOT OF FLUFF. To summarize: buy quality fixtures/appliances (if aplicable) for your home that will become a future rental. Don’t over spend on blinds, fixtures, cabinets, paint instead of replace, look for floor models or appliances with small dents, scratches or defects. Stick to the earthy tones, don’t narrow your potential cliental.
Honestly, pretty basic and simple stuff.
One more tip: get a Lowe’s card to save on costs of renovation materials.
Young Money Investments Everything video is fluff with you boil the whole video down into one paragraph. Smh
@@barefoothippielibtard9691 Thought the same thing about it. Liked the condensed version of the video more!
@@barefoothippielibtard9691 Haha you have a point! 😉
yea but most people are literally retarded so i guess he caters to the general public, this is common sense of course but that's getiing more and more uncommon.
@@kiput3647 Amen my friend! 😂
noob - hires someone to lay their tile
pro - lays the tile themselves ❤️
Not everyone is skilled in doing so
Didnt watch it full before commenting im literally debating in a home depot parking should I paint the baseboards the same color as the walls answered it Thnks you guys are amazing
Power Couple!
🙌 They totally are!
"Think about how appealing to the masses". How in a few words we can describe a successful business. Well said!
Kevin out here like "how can I say boobs in my home improvement video a ton of times 🤔"
She's such a cute blonde Kevin!
Kevin needs to marry her. Stop. Wait a minute...
Having someone with this type of knowledge for your first rental is invaluable. We saved so much money having our realtor (aka mom-in-law) help us make our first rental renter-friendly which meant saying "no" to a lot of our design choices which we thought looked good, but would be considered unnecessary overspend. We even considered an entire remodel on our kitchen just because it looked a little dated!
Almost all people I've met in rental property mgmt in Floriduh are C-H-E-A-P and rarely pay their bills on time, even if they can. They also don't pay their contractors well. 80/20 rule applies - the cheap ones that cut corners are likely the 80% of what you find in Floriduh. Then you've got the foreign syndicates (from Israel and others) that buy up bottom of the market properties, charge top dollar to low credit households and fail to put $ into the property, which pulls down the value of neighbors. See 'em all over Southeast Floriduh!
Stupid thing people do
Shopping at Lowes. Lowes has terrible prices and is always more expenaive than home depot and especially menards.
Next Lowes has made really stupid mistakes lately.
1: They got rid of Kobalt and went with Crapsman tools. Craftsman used to be good when it was exclusive to Sears and was made in the USA. Now its garbage shit made in China.
Kobalt was a solid line of tools made in Taiwan by Apex tools (Gearwrench etc).
2: They refuse to price match Amazon. Dumb.
3: Their prices are much more expensive than Home Depot and Lowes.
4: selection is worse. Classic example is electrical department; lowes charges 10-15% more than Home Depot for conduit fittings etc.
It really depends on what's on sale at that time. Sometimes it's better to buy from Home Depot or Amazon if they have better deals like on Black Friday.
California renters bring their own fridge? Seriously?
Pick whatever paint colors u want. In your own house! Not a rental... Yes my home will be a rental someday but paint not that expensive.
Lauren sold me on the real estate investing course
That’s funny. I felt the same thing.
Now i know why all the apartments have sow chip stuff in and junk stuff :(( thanks 🙏 :((, now if you even to buy a house remodel to you have to watch for this stuff:((
I'm a home owner and the labor is free for me ... well I run my own company.
My tenants left a huge black stain on the light colored carpet when they left. I had Zerorez come to clean the carpets. They didn't say anything going in but that stain was completely gone. They had a pretty good idea that's what would happen but didn't want to promise anything just in case. I had put in really cheap, very stain resistant carpet. It was basically made of plastic so the stain couldn't actually soak into anything so it could be sucked right off. That's also an important consideration, what the carpet is actually made of. That has a big impact on whether stains go away or just fade a bit with professional cleaning.
Noooooo.....No white bathroom tiles in the kitchen!
It'd be interesting to see you do a podcast with the guys at Bigger Pockets.
I completely agree, even with your 1st video on this subject. But I have only one thing to say.
I rented a house that had extremely cheap countertops, floors, etc. It was extremely hard to take care of, and it seemed like the owners would just replace everything with a new tenant, and just make the "tenant pay for it"
felt cheated honestly.
extra
the countertops were one of those ikea ones, under a 100$ and they would stain for like no reason.
the backyard had mulch in places, and didnt have a black tarp under. No way to control weeds.
This is gold for small potato landlords like myself. You answer all those nitty-gritty questions about what you should and shouldn't do to get a property ready to rent. Thank you!!
No fridge? Wtf that's fuck up.
Something valuable I learned from this video: Use wood looking linoleum tile to cover imperfections under kitchen and bathroom sinks
That's slumlordy
Is it though? It’s simply an alternative to paint right? Under the kitchen sink is usually not the prettiest area anyways. Most of the time it just holds cleaning supplies anyways.
Besides, it’s WAY better than the wallpaper under the sink I peeled up in the house I just bought. Lol
In my opinion, slumlord just means deferring maintenance and providing an overall unclean & uncomfortable place to live with no intention on ever making improvements. Going out of your way to make the least opened cabinet look better isn’t very slumlordy. Like he said, it’s not like I’m covering up mold.
@@jordanpage176 no, listen to what he says tho, he doesnt just mean a water stain he means compromised wood, thats what he means when he says instead of replacing the wood that can be costly. That's slum lordy
arturo raygoza what difference does it make if it is covered over or painted over? I would rather put $ in another place that shows rather than under the sink. I think 90% of renters would agree with that.
What if the people you rent to are...ummm... crap?
We don’t
Noob pays for their vacations, Pro, uses all the points amassed from their business spending to go fly first class and stay at 5 star hotels for free!
What a cool video! Adding Lauren's take was a nice touch b/c she provided several great, objective insights. (I especially enjoyed her seemingly bashing the famous "Modern Farmhouse Style" on the basis of how fleeting it really is. To me it's overrated.)
Additional Pro tip: Don't get your hardwood floors at Lowe's/HD!! (For your home, not your rental.) I respect getting the luxury vinyl and I would in a rental, but for my home? Definitely hardwood, as that's the kind of quality buyers in my area expect should we ever sell.
Lastly, thanks for the reminder to NOT over-improve, even if we're in our forever home (which we are): It's important to remodel based on our realistic lifestyle and not today's trends.
In the Washington DC suburbs I live in, I see $800,000 plus houses with luxury vinyl plank.
Great Team. Best Video Ever. Learned a lot. I’m only a Renter-for now. Thank you, Mr. Paffrath and Lauren...you were both on point.
This video made me realize i'm renting from a slumlord
Haha I like my apartment but after watching this, I was like my floors look like the “slumlord” version lol
If I lived in California, I’d be your friend Lauren. You are great!
Are there upgrades that don't increase the rent, but increase the appraised value more than they cost? For example I can get carpet/LVP for $2/sqft installed and tile/hardwood for $6/sft installed.
A higher appraised value means more money out of the deal in a refinance. Or does carpet/LVP appraise equally to tile/hardwood in your market?
Great video and helpful information. I keep thinking about your son as she reminds me so much of him. You two have a lovely family.
Kevin loves saying BOOB LIGHTS😆😆😆
I don't have any friends either.
“A noob buys a home from Kevin” that had me dying Kevin 😂😂😂😂😂 don’t listen to the haters hahaha