Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    From $11.99/month after trial. Cancel anytime.

    Property Management by Scott Bolinger
    Property Management by Scott Bolinger
    Property Management by Scott Bolinger
    Ebook248 pages2 hours

    Property Management by Scott Bolinger

    By Scott Bolinger

    ()

    Read preview

    About this ebook

    This book is written to help create or expand contract jobs, expand into housing inspections and help diversify ones portfolio. This book consists of chapters on Property Preservation and the many ways you can build a business in Property Preservation and inspections. I have over 20 years experience as a contractor and business owner. In my 5th edition, i added a chapter on Politics. this goes through some of the bills that i have written to help decrease  Tax liens and foreclosures, as well as a analysis on the housing and banking industry to help reform the system to help our housing problems and create more jobs. 

    LanguageEnglish
    PublisherScott Bolinger
    Release dateJul 7, 2020
    ISBN9781393090649
    Property Management by Scott Bolinger
    Author

    Scott Bolinger

    Biography of the Author “Scott Bolinger”                                                                                                                         I grew up in Alliance Nebraska. Graduated from Hemingford Nebraska in 1987. After High School I joined the US Airforce and was stationed in San Antonio Texas for basic training. I attended Tech school at Sheppard AirForce base in Witchatafalls, TX. My study was in Civil Engineering as a “structural specialists.” I was stationed in Zweibrucken Germany after tech school and assigned to the “26 Civil Engineering Squadron.” There, I received my structural technician certification. After I was honorably discharged from the AirForce I joined the Army National Guard that was based out of Alliance Nebraska. The Alliance unit was a howitzer unit.      I studied Business management, information technology, motorcycle mechanic, welding, realty, fitness and Nutrition. In 2018 I decided to go back to college and get a Bachelor of Science degree. I went to college at the University of Nebraska at Omaha with a major in Political Science and a minor in Criminology with a concentration in government affairs and civic engagement.         I started in politics around 2003 by volunteering as a Planning Commissioner. From that, I seen how our local government was being run and seen some grey area politics. The way they treated the people was not something I would do. The way the government was ran did not feel quite right. Seeing my own city council trying to take peoples lands in a very unethical way, spurred me to run for office. I felt that we needed people in office that were there to help people. To make sure they know that they have someone who will fight for them.   

    Read more from Scott Bolinger

    Related to Property Management by Scott Bolinger

    Related ebooks

    Business For You

    View More
    View More

    Related podcast episodes

    Related articles

    • UNLIMITED

      Landlord’s Toolkit

      Sep 2, 2020

      Landlord’s Toolkit
      9 min read

    • UNLIMITED

      Beneficiary Designations: 5 Critical Mistakes to Avoid

      Apr 5, 2019

      Many people might not realize that their will does not control who inherits all of their assets when they die. Many assets pass by beneficiary designation -- which is the ability to fill out a form with the financial company holding the asset and na

      3 min read

    • UNLIMITED

      Are Debt Collectors Overcharging You? How to Protect Yourself

      Aug 25, 2022

      It’s tough enough trying to get ahead of a debt that’s gone to collection; it’s worse when a debt collector piles on fees, charging you extra to give them money. Yep, that’s right. According to federal officials, some debt collectors charge consumers

      3 min read

    • UNLIMITED

      The Use Of Trusts For Business And Trading

      May 15, 2021

      BANKRUPTCIES in South Africa averaged 229 companies a month from 1980 until 2020. In August last year, an all-time high of 511 companies declared bankruptcy, compared to the record low of 63 companies in May 1988. The projected bankruptcies for 2021

      3 min read

    • UNLIMITED

      Beneficiary Designations: 5 Critical Mistakes to Avoid

      Apr 5, 2019

      Many people might not realize that their will does not control who inherits all of their assets when they die. Many assets pass by beneficiary designation — which is the ability to fill out a form with the financial company holding the asset and name

      3 min read

    • UNLIMITED

      How Transfer-on-Death Accounts Can Fit Into Your Estate Planning

      Mar 18, 2019

      My wife and I, like most married couples, share a bank account from which either of us can write checks and add or withdraw funds without consent from the other. If my wife outlives me, the account will be hers alone, which my Last Will can't change.

      4 min read

    • UNLIMITED

      Stand Out In A Sea Of Agents

      Mar 31, 2020

      Stand Out In A Sea Of Agents
      3 min read

    • UNLIMITED

      Give the Money, Keep the Tax Break with Donor-Advised Funds

      Jul 10, 2019

      I doubt many people would say that getting a deduction on their income taxes is their main motivation for charitable giving. It's more likely they've been inspired to support a cause they believe in or an organization they respect -- a children's ho

      3 min read

    • UNLIMITED

      Smart Strategies for Couples That Run a Business Together

      Apr 21, 2022

      Gail Nott was a marketing consultant and her husband, Cory, a tech consultant, when they joined forces in 2018 to help other consulting and coaching businesses expand. Married since 2005, Gail, 46, and Cory, 53, of Nicasio, Calif., found it tough goi

      5 min read

    • UNLIMITED

      Getting The Numbers Right

      Jun 28, 2023

      Being a property investor involves a sound understanding of the numbers that lie behind each property. If we get the numbers wrong, it can spell trouble. And so, our lead story this issue focuses on the importance of getting the numbers right. We com

      1 min read

    • UNLIMITED

      Watch Out for the Elder Fraud Web

      Nov 25, 2019

      There were warning signs: A constantly ringing phone. Bank accounts in disarray after an apparent hack. Messages from her family that went unreturned for days because she was extremely busy. A new man in her life, with whom she talked over the phone

      8 min read

    • UNLIMITED

      What’s a DST? The Lowdown for Real Estate Investors

      May 22, 2022

      DSTs are unique real estate investment vehicles that allow a group of individual investors to purchase fractional interests in large commercial real estate assets that typically would be well beyond their financial reach as solo investors. DST invest

      3 min read

    • UNLIMITED

      There is No Place Like Home: Mature Foreign Asset Protection Trusts Are Coming Home

      Feb 14, 2018

      Do you have a foreign asset protection trust (FAPT)? Has it been established for more than 10 years? Are you interested in ways you can save on the costs of maintaining your FAPT? You may now bring your trust home to a qualifying state and still ma

      2 min read

    • UNLIMITED

      The One Simple Move Keeping Americans From Getting Bigger Tax Refunds This Year

      Feb 14, 2019

      Take a vacation? Pay off bills? Buy a new car? If you're thinking of ways to spend this year's tax refund before filing your return ... wait! Trying to predict how much you'll get back (or pay in) this year is extremely difficult. Plus, even if your

      3 min read

    • UNLIMITED

      Mobile-home Residents Unite To Take On Landlords

      Dec 17, 2018

      MARIBETH SHEEDY GOT A LETTER FROM her new landlord the day after Christmas last year. So did many of her neighbors in the Akron Manufactured Home Community in Akron, N.Y. The park’s new owner, Florida-based Sunrise Capital Investors, was proposing a

      2 min read

    • UNLIMITED

      Equifax To Pay Up To $700 Million In Data Breach Settlement

      Jul 22, 2019

      The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.

      2 min read

    • UNLIMITED

      How to Get Your Estate Plan Done While Under Coronavirus Quarantine

      Mar 30, 2020

      The coronavirus lockdown began in the California counties of Sacramento, Palm Springs, Los Angeles and Ventura, issuing unprecedented orders for all residents to remain in their homes except for certain essential activities. Then Gov. Gavin Newsom ex

      5 min read

    • UNLIMITED

      PODCAST: The 2022 Real Estate Market with Daniel Bortz

      Mar 23, 2022

      Apple Podcasts | Google Podcasts | Spotify | Overcast | RSS David Muhlbaum: Houses are scarce. Home prices are high, and the all-cash offer is king. We’ll talk about buying or selling a house in this market with contributing writer, Daniel Bortz. Als

      17 min read

    • UNLIMITED

      Why Do I Need a Trust?

      Aug 31, 2022

      There are some simple estate planning techniques that you can use, such as adding beneficiaries to your retirement accounts or adding transfer on death (TOD) designations to after-tax accounts. When you pass away these assets will avoid probate and c

      3 min read

    • UNLIMITED

      Contract Checklist

      Jun 29, 2016

      Contract Checklist
      3 min read

    • UNLIMITED

      Realtor Profiles

      Sep 27, 2019

      Realtor Profiles
      7 min read

    • UNLIMITED

      Own a Gun? Careful: You Might Need a Gun Trust

      Feb 6, 2019

      If you're not a gun collector, you likely haven't heard the term "gun trust." Even if you are, you may not understand what a gun trust is, how it works or how it can be of use in an estate plan. A gun trust is the generic name for a revocable or irr

      4 min read

    • UNLIMITED

      Trustees Are Accountable To The Master Of The High Court

      Jan 16, 2021

      A TRUSTEE of a trust is accountable at all times to the Master of the High Court and to beneficiaries. If trustees’ actions (a single or multiple trustees) contravene either the provisions of the Trust Property Control Act or the trust instrument, th

      3 min read

    • UNLIMITED

      Entrepreneurs Pay Too Much in Taxes Because They Don't Do This

      Mar 29, 2019

      As we head deeper into tax season, we're starting to hear from more and more Americans experiencing sticker shock as they file their returns. Gone is the comforting and often sizable refund check they've come to expect every year. Instead, they're fi

      2 min read

    • UNLIMITED

      When Elder Care Requires Legal Advice

      Sep 15, 2020

      Laura French, an elder care attorney in Georgia, sees it all the time. A family is in denial about a parent or another older relative’s deteriorating physical or mental health until there’s a crisis, and “all of a sudden everyone realizes ‘we can’t d

      5 min read

    • UNLIMITED

      Do Trustees Become The Legal Guardians Of Your Children?

      Jul 24, 2020

      The guardianship of children is governed in terms of section 18 of the Children’s Act, whereas the role of trustees is governed by the common law and the Trust Property Control Act, explains Elmarie Neilson of Neilsons Attorneys. The powers of truste

      1 min read

    • UNLIMITED

      New Approach To Formal Contracts

      Mar 1, 2023

      Due to its emphasis on fostering trust between the parties involved, a new approach to formal contracts has taken the spotlight; relational contracts. Traditional contractual agreements typically include very restrictive terms that can stifle communi

      2 min read

    Related categories

    Reviews for Property Management by Scott Bolinger

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      Property Management by Scott Bolinger - Scott Bolinger

      Copyright in 2011

      by

      Scott Bolinger of Alliance Nebraska

      All rights reserved. No part of this book, doc, or CD may be reproduced in any way, shape, or form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system without permission in writing from the author Scott Bolinger. If bought as an ebook, you may make one hard copy. The forms and tax forms may be copied as many times as needed for the person that bought this book for personal or business.

      Disclaimer

      The publisher and author of this book are not responsible in any manner whatsoever for any income loss. What is stated are several ideas that have worked in creating income. Sometimes it takes money to make money.

      Published by:

      Scott Bolinger

      Address: 507 Niobrara

      Alliance, NE 69301

      Phone: 308-760-7346 Email: LB@LarryBolinger.com

      Website: www.LarryBolinger.com

      Website: www.WarriorRage.com

      Revised December 2013

      Revised April 2014

      Revised 2018

      Revised 2020

      Revised 2022

      About the Author

      Scott Bolinger has been a business owner for over 15 years, and has been investing in investment properties for over 10 years, and started in preservation work and field inspections in 2006. He has a background in Carpentry, locksmith, and masonry that started in the AirForce in 1987. The property investment went from starting from scratch to over $500,000 worth of investment property.  Is the author of several books, business books, martial arts books, self-defense books, and history and 2018 Congressional candidate from Nebraska.

      Introduction

      I’d guess since you decided to buy a copy of this book that you’re a business-minded person that wants to get straight to the point and create an additional cash flow. There are several ways to create income in property management. The business I’ll be going through is as a Contract Inspector and there are many aspects of a contract inspector that covers field inspections, property verifications, merchant site inspections, and preservation which consists of contract work with asset companies to bring the foreclosed property up to FHA/HUD regulations, and some standard tidbits of property management. You don’t have to do everything, but I find it best to diversify your income. The companies you would be working with are contracting companies that work with mortgage companies or realty brokers, asset companies, and banks and in some cases, you might work directly with the mortgage company.  Primarily what a field inspector would do is perform property verifications. This would have you going out to a property and verifying that someone still lives at the property in which you would take one picture of the front of the house, maybe a picture of the address and down the street, or to do interior and exterior property inspection of a property that isn’t occupied and you would take pictures on all sides of the outside of the building and two pictures per room and place bids on anything that makes the building non-compliant (not up to FHA code). For the preservation work, you would make sure that the building is secured and complies with FHA guidelines. For the Preservation work you would take pictures of all sides of the house, then 2 pictures per room in the interior.  You’re usually given a list of tasks and you would take before, during, and after pictures of work that was approved to be completed. For preservation work you would be primarily doing winterizations, securing a property, yard work, maid service, disposal of hazardous material...etc. Sometimes the preservation work isn’t just limited to FHA guidelines, sometimes the mortgage companies, realtors, or asset companies may have general remodeling that they want to be done, or maybe the city building inspector may have written up work that’s needed doing, which would get approved through an asset company.

      Content

      Chapter 1

      Intro To Property Preservation

      ––––––––

      In property preservation, there are 3 primary areas for work.  Inspections, Property Preservation, REO.  The inspector or field inspector will do a general inspection of the property. Either just an outside inspection to do a property verification or occupancy verification to see if someone still lives at the property or if it’s been abandoned. Along with the field inspector side of that business is the interior/exterior inspection. When you do an interior/exterior inspection you are mainly looking to see if the place is still secured and in compliance. You would check to see if there are any safety hazards, roof leaks, or water leaks that could cause more harm to the property, and you point out any issues of vandalism. Some inspections could be insurance loss inspections. That type of inspection is when a homeowner received damages to their home from a storm. You would do the inspection and verify the completed work. Some inspections may be to inspect a business. Most business inspections are to verify its existence to help that business get approved for a credit card reader.  And then there is the maintenance part of the preservation which would be to secure a property, winterize, yard maintenance, maid service, and bring a house up to FHA code. On the first interior / exterior inspections you want to do a very thorough inspection of the property. If you’re not approved to do the work, then you make bids to do the work. Some prices are pretty standard. Like lock changes, installing a lockbox, installing hasp and lock, dry winterization. But some things may have some flexibility like debris removal, initial yard maintenance, and maid service. So in certain circumstances, you might consider one bid set out with separate prices with the total, then a total bid as a bundle package with a discount for the packaged deal. I do have a standard list price in this book, I wouldn’t go much out of that range. I would not recommend bidding lower than the prices I provide.  Things you’ll have to consider when doing your bid, are travel, material expense, and room and board if you have to stay out of town for 2 or 3 days and the percentage the asset company is going to take. So if they are taking 20%, then add an extra 20% to your bid. If they are going to take 50%, then double your bid price.  There are two areas of the foreclosure process. One is the pre-foreclosure. In a pre-foreclosure, a contractor can only sure one door, do limited work, and do a report. In a pre-foreclosure, a mortgagor can reclaim that property. This property is assumed abandoned before any work is completed. The property is verified abandoned by the inspectors. After the property is sold or acquired by the bank, then it is considered foreclosed. The bank has all rights to the property. Then they will make the order for a full cleanout with a list of allowable jobs that could be done to the property to bring it up to FHA code.

      Definitions

      Drive-by inspections (property verification or Occupancy Inspection): this type of inspection is done to see if someone is still living at the property. And you take one picture of the front of the house, one of the address, and a picture showing down the street and street sign. A lot of companies want you to take double pictures, which is good practice. It decreases the chance of a blurry photo. The form you get for this type of inspection will generally ask for a description of the house which would cover type and color of siding, type of covering on the roof, estimate value of the property, visible personal property, any broken or boarded up windows or doors.  If the property is vacant then you would usually do a full exterior set of photos (all 4 sides of the house, down the street, street sign, address, gas meter, electric meter), and sometimes the inspection would require to check with a neighbor to confirm that it's occupied or not. In some cases, if it's vacant then you would post a vacancy sticker on the window.

      Interior/Exterior inspection:  Take pictures of the outside and all for sides of the house, down the street, pic of the gas meter and electric meter, roof pics, and then take two pictures of every room, and picture of the ceiling and floor of each room, pic of the water heater, furnace, and water meter.  Jot down any issue that would be needed to bring the property up to compliance (securing property, boarding windows or doors,  removal of hazardous materials, property inspections,  any safety hazards, trip hazards, rails needed on the stairway, yard maintenance)

      Merchant site inspections: this would be an inspection on a business to make sure it’s legitimate.  This is usually a by appointment inspection. Usually consist of 5 exteriors and 5 interior pictures, making sure you take a picture of all 4 sides of the exterior of the building and pictures of the sign. In the interior, you’ll usually need to take pictures of the general business area, main office, picture of where secured documents are kept (usually a file cabinet),  and inventory. A lot of times you’re there to qualify a company to use or continue the use of credit cards readers, so you’ll take pictures of the credit card machine.  The inspection is to check to make sure the business is legitimate. I’ve had several for auto sales to qualify them to be able to contract with a company that does background checks so that they can set up the loans themselves.

      Inventory inspections: inspection of inventory, taking pictures, and writing down serial numbers to confirm the correct item. Inventory inspections would be done on stores or restaurants. It is usually about a $300 job.

      Insurance Loss Inspections: inspection of a building that has had weather damage. Usually take an average of 30 pictures.  Collateral inspections, rush inspections, construction site inspections, occupancy inspections, commercial inspections, and delinquency inspections.  Out in Nebraska, I get a lot of inspections for hail damage, and the most common is roof repair, siding, gutters, and down spouts. You’ll take pictures of completed work and work that still needs to be done and whether or not there satisfied with the work that has been completed.

      Collateral inspections: this would usually be for construction equipment that someone has rented. The last one I did was an excavator. You’ll need to take several pictures at a  distance and several up-close pictures of all sides of the equipment and the serial number.

      Rush inspections: a rush inspection could be any of these types of inspections but you’ll generally have 48 hours to complete. But you’ll charge a higher price for the limited time frame

      Construction site inspection: This may be a few different things, maybe a percentage of completion on a job, or an equipment inventory.

      Occupancy inspections: same as a drive-by inspection. This is just to verify occupancy

      Commercial inspections: this could be to verify the legitimacy of the business just like the merchant site inspection or inventory inspection

      Delinquency inspections: these are usually on vehicles and you would generally take pictures of all sides of the vehicle and the VIN number and do an interview

      Preservation and REO: generally when called on this type of inspection, it may be assigned as a preservation work order. This could be on an abandoned house that went back to the mortgage company, reversed mortgage, or foreclosed property, or a property that a broker bought and contracted you to do an initial. An initial would be a first-time clean, yard maintenance, secure, debris removal, winterization if in season. So you would go in and secure the house. Change the locks to a specific key code and secure any

      Enjoying the preview?
      Page 1 of 1