All Forum Posts by: Adam McCarty

One of the big things I took away from podcast 109 was that yes you may have insurance however in a big lawsuit the insurance company will find a way not to cover you. If you messed up one little thing in any way they will claim you were at fault and not cover you. So now if you get a judgement against you they can come after every property you own until they get their money. It was a very good eye opening listen. Well worth anyone's time who owns property. 

listen to podcast 109. After hearing the lawyer talk about insurance companies and things he has seen I would never buy in my own name again. It was very eye opening. Yes it might cost a little more upfront but if you do ever get sued it will save you butt. 

house hacking is where you buy a small multi-family house such as a duplex, triplex, or a four plex and live in one unit while the other units pay your morgatge for you. 

one other reason to not get an inspection is that you will have to disclose it when you sell. So if you fixed major problems the buyer may see your inspection and get turned off from buying. 

I just listened to a podcast where the guest had a similar situation. He said he had to aquire the other lot first but his house also sat on part of the second property. It was a pod cast in the 100 to 108 range. I don't remember the guests name sorry I can be more specific

Not having something in front of the window might look weird but I like the dishwasher in the island from an unloading stand point. Most of your dishes will be stored in the cabinets around the stove.  In my own house I love the sink and dishwasher in the island but I also have a much larger island (5x8). It is all personal preferences. I doubt you will affect value much either way. 

Radon has become a big business which is why you are now hearing about it but you didn't 15 years ago. It is another one of those thing that once it gains traction you won't ever get rid of it even if the chances of you getting cancer from it are minimal. Radon causes less that 1% of cancer deaths that don't have other contributing factors (such as smoking). Even with all cases it still only accounts for 3% of cancer deaths a year. There are so many bigger problems to focus on but this one creates the most profit for company's that deal with it. Just my 2 cents

Most won't notice unless you tell them and even then might not care or know what the difference is. I think it is more about which looks better with your flip

the other thing that would be hard to determine is what is considered the profit. Without having a price that they have sold the house at plus rehab cost how do you figure out where your cost are at. 

I had to laugh as i read this thread. I am a licensed electrician and I agree with many of the comments about not letting tenants change out fuses. However the comments about breakers being safer or better than fuses are wrong. Breakers can get stuck in the on position and never trip as they age. You are actually supposed to replace them if they have tripped more than twice and also test them monthly to make sure they still turn off and have not become frozen in the on position (no one does this but it is on the box or in the instruction of all breakers). Also the comment about fuses only tripping in a high overload situation but not in a situation where the circuit is running hot is false. There are fuses now that have two different types of elements in them that will trip in either situation.