All Forum Posts by: Aaron Junck

OMG!! What did you do after you found out this @Stephen S. ? lol

@Bobby Gerry He may be able to shed some light on this for you.

I havent made it yet, I personally only have the 1 rental at this moment.

Another way that people haven't mentioned on this post yet it note investing. Check out podcast number 17 with Jeff Brown.. Great info here !!!

I would just go over and talk with the neighbor nicely of course and let him/her know that when the tree falls and causes damage to your property that it will cost more than by having a tree company cut it down. The neighbor will probably just say that "yeah but that will cost me money" . Let the neighbor know that when the tree does fall it will cost them more because an insurance company wont cover stupid :) (ignorant).

If this tree is dead/rotten they wont cover it because the damage could have been prevented by taking the dead tree down.

Also like previously mentioned you can contact your city and they will tell the neighbor they have so many days to get it down or they will do it and charge them. The reason for this is a dead tree is a safety issue and invites disease which can end up spreading to other healthy trees due to insects.

Best of luck!

Mary IMO deals are made not found. What I am trying to say is if you find something that seems like a good deal you need to lock it down and like others have mentioned IF its a good deal financing wont be hard to secure. OTOH if its not a good deal you will be unable to secure funding unless you use your own hard earned cash.

If you find a property that needs no work and is move in ready and someone just needs to dump the property for whatever reason. Most would say that if they want 90k on a 100k property you will have a hard time finding funding in most cases. If that same 100k property you can pick up for 65k or 70k odds are you will be able to find an investor to fund it.

Best of luck!!

It is highly recommended to tear off all layers and start fresh. This does cost more but why cover up a problem? If it has a layer of wood shakes on at all it has to be torn off. Going off of last years code you can roof on top of 2 layers however you have to keep in mind the weight of all those layers of shingles on roof trusses. Check local codes because they may be different.

Then comes warranty issues with manufactures.. shingle manufactures are very picky after Certanteed had there recall and most want you to use minimum 3 of their products.. not sure how you plan on doing that if your going over top. What I am getting at is if you have warranty issues down the road is it worth the cost savings now if you get nothing from a warranty claim?

I know up here in my neck of the woods we are required to use ice barrier on the lower half of the roof to extend past atleast 2' from an exterior wall. I cannot see how this would even be effective if on top of old shingles. We only do complete tear offs up here. Just my 2 cents.

Curious on the background history as well...

Does this guy have a game plan on how he would be able to secure financing in 1 year otherwise I could see a court looking at this as saying there is no way for this particular guy to secure financing in one year and that you as an investor should know better and not take advantage of someone like that. Then they force your to pay him back. Im not saying that this would happen but I could see the court going in favor of this person or any for that matter if it is initially set up with an unrealistic timeframe.

However, maybe a 2 year lease option would be more fitting.. you would have to be the one to make that judgement call based off the information you know.

I wonder if the court would view him "updating" the flooring and cabinets as a potential "down payment" therefore giving him some form of ownership in the property. Also what happens if he decides to walk away from the property you may show up one day and the new flooring and cabinets are gone and its bare now. That would chew up every bit of 10k in most markets.

I personally like lease options, I too try to think of the worst case scenarios and add in the lease option contract wordage to protect myself. With this one it sounds like you will want to add some extra precautions in there.

Hahaha!! @Michael Quarles thats hilarious! Did you actually post something on his house or did you mail a yellow letter? haha

I am looking at doing a deal with someone and their personal financials are in terrible shape. Great deal since I can get a bargain on their house, however my question for all you " sub to" pros out there is this: If I am able to work out a sub to deal with them what happens if their personal situation gets worse and they file for bankruptcy ?

Would that be of any concern to me? Could I lose the house down the road if they did file? Or since they would deed it over to me then its not an issue? I have a feeling it would create a due on sale clause of some sort if they did file?

Any and all opinions and expertise is much appreciated!