Ughhhh slumlords!!!!

19 Replies

Just wanted to vent.  My latest purchase has turned into a never ending problem.  The guy I bought it from was no doubt a slumlord, but geez the stuff we are finding.  

Every single water line on the toilets, sinks, drains, you name it either had silicone in it or some mystery green sealer.  He was too cheap to buy a $4 line.  

Oh yeah the water line to the fridge... Crazy glued to the valve.  

Light fixture was held up in the ceiling with caulk only.  

Shutoff valves only shut 75% of the water flow off.  

Huge deck in the back that we had to rip out.  I know why the deck is there... Drainage problem from h$11 in the backyard.  Luckily this is being fixed by them because I caught before closing. 

Vertical blinds along the sliding door hung with one screw in each bracket and not into an anchor or stud.

Every single light fixture had 1 working light bulb  

I went to scrape caulk in one of the shower/tubs and the whole bottom bounced... Cut into the drywall... Nothing supporting the tub.  It was like a trampoline.

Carpet... No tack strips.  Glued to the floor.  I pulled carpet in one room to see where the cable wire was going under it.  It went nowhere.  It was cut and tucked under the carpet.  The master bedroom had coiled cable line in one corner under the carpet.  I pulled it and guess what... It went nowhere.  It was foiled, ran across the hall to another bedroom, and just laying there...

The home inspector (I'll never use again) missed some of this stuff, but mostly I found it all because we decided to replace the kitchen and all vanities in all bathrooms. 

This has been one entertaining budget crusher!!!

It's also taught me how to inspect on my own

I could go on forever.... The best part though is I am learning A LOT about things I never knew how to repair before:)

As they say on Craigslist... Rant over

@Bryan N.  

 sorry to hear about your experience, call it learning as now u have a better idea of what to look for  in the future. Good luck. As a contractor if I can give you any pointers hit me up.

@Jeremy Tillotson  

It's all good and thanks.  It just amazes me at what this guy has done.  He could become a "guru" on how to suck every penny possible out of a property with only putting 1/1000 of a penny back into it.   He has two more he wants to sell me.  I will make him pay dearly for those in return for this one if I pursue them. 

@Bryan Neal its a blessing and a curse to be able to see these things, you adjust your offer and get outbid. In a side note I have come back and bought properties when whoever bought it and ran out of money to fix it because they underestimated the deal. Congrats on learning how to deal with it though. Keep a positive attitude and have fun at what your doing. 

I laugh everyday I make the trip to Home Depot or Lowes for the fifteenth time.  I'm just glad I'm not using credit cards or loans.  Man, that would add some intense pressure.  I don't know how people do that.  Thankfully, my wife and I have always said if we can't "pay" for it, we won't do it.  

@Bryan N.   Nothing replaces experience, but if you need a quick crash course on how to inspect/repair homes sort of like a professional, go head and watch a full season of "Holmes Inspection" it is fun AND very educational. Its on cable and Netflix too. I used to watch it 3-4 times a week for years. It had saved me thousands more than once. Thanks to that show we had insulated our personal residence such way that our average Heat/AC bill is now $120 month for 2400SF!

Good luck to you and most of all have fun with it!

@Bryan N.  

  after a while when you own low end rentals and seeing what the tenants do to them folks just cut all sorts of corners... I remember seeing bath tubs that were simply painted with latex paint to look like they had been refinished properly.. the tenant gets in there use's it big swaths of paint come up.. YOu think the tenant would keep it from going down the drain  NO way they just let it go down the drain and call you with a plumbing issue.

Your only in phase one of low end rentals if this is truly what you own now.. it gets better !!

I would not hook up a water line to a refer in low end rentals that's asking for trouble. just like you don't want a dishwasher etc.. just another thing to break

Good news...nothing is too crazy on that list. Cutting into the ceiling under the tub and supporting it will be tough though.

Caveat emptor.

I do not have any low end rentals BUT I would think that just comes with the territory? 

Dunno, try & not take personal & learn from the experience / process.

@Jay Hinrichs   @Lynn Burson  

It's not a low end rental.  I actually find the whole situation amusing.  No sense in getting upset over it. 

@Seth S.   Thankfully there was a small closet next to the tub.  I cut into the drywall and sprayed four cans of expanding foam in there.  I connected the foam sprayer to a 3' section of tubing so I could get to the back.   

While I haven't had this bad of corner-cutting, I have seen some corner-cutting in my properties too. Also, I've bought from landlords who are fed up with being landlords because of the terrible tenants. Well, when your application process is a joke and you let in people you know have no money and prior evictions, what exactly do you expect? :-)

As for home inspectors, I feel like a good amount of them will not find all the things you will probably find. They just generally go through the motions and find glaring issues (define "glaring", right?).

Found a new one today.  While leveling the floor upstairs for the laundry closet.  Their is a drain, in case the washer overflows.  I unscrewed the cover and KAPOW!  The slumlord shoved a plastic cap 5" down the drain and dumped tubes of some kind of sealant down their.  I guess it used to drain, but fixing the leak was too much.  This education has cost me just about as much as my MBA.  I will never see my return on investment on this one, but at least I'm a lot smarter now!!!  

Where is this property? Just curious.

@Chris C.  

Virginia Beach.  Rosemont Forest area.  

so is it possible to build a house out of chaulk? 

@Elizabeth Colegrove 

I purchased to update and rent.  Could sell and make my money back, but the cash flow is good.  So, I may just keep it.  We haven't decided yet. 

Originally posted by @Bryan N. :

Found a new one today.  While leveling the floor upstairs for the laundry closet.  Their is a drain, in case the washer overflows.  I unscrewed the cover and KAPOW!  The slumlord shoved a plastic cap 5" down the drain and dumped tubes of some kind of sealant down their.  I guess it used to drain, but fixing the leak was too much.  This education has cost me just about as much as my MBA.  I will never see my return on investment on this one, but at least I'm a lot smarter now!!!  

Believe it or not...... I think this experience will pay for itself many times over. This will create leverage for his other properties, and this slumlord well end up eating the deferred maintenance, which he thought he could pass on to someone else.

Sebastian

@Sebastian Baker  

He has two more properties he wants to sell in the next year or two.  I told his agent he will pay for those two if he sells to me.  The agent straight up told me, if I'm going to put money into updating them they may just sell them to me at a steep discount to get rid of them quickly.  Appearantly, the slumlord is older and retired and doesn't wan't it anymore.    The experience is well worth the cost at this point.  If I can scoop up two more properties off him at an extreme discount then it's really been worth it.  I know what to look for now with this guy and how to discount the price...

Update... He was painting one of his properties.  I walked in with a contract (no agents).  I told him $100K and he can pack his tools up and leave right now.  He looked at me and said "I want out".  He was going to list for $120K.  He handed me the key, took the contract and said let me get my wife to sign.  Contract should be ratified tomorrow.  He even gave me 2% closing costs and home inspection findings.  I just made my money back off the other deal.  Tired landlords (even slumlords) are a gem if you can find them.