All Forum Posts by: Adrian Smude

 I'm interested to hear responses....

@Jon S. I'm in the Tampa area, Plant City, and two years ago when I needed to replace the heating element in my older water heater I researched and decided it's not cheaper in the long run for tankless when it's heating source is electric but would be worth more research if heated with gas.  To prevent the sentiment build up you could put a water softener & carbon filter on the house, it's a nice added feature for the tenants and they have to pay for the salt monthly.  I have them at my houses (I do get a great deal from my uncle's water softener business) but it also helps to keep the showers cleaner.  

I've been against home warranties because I do the repairs myself, BUT my last rental the sellers gave us 1 year home warranty. As I was finishing up the small rehab job I noticed water coming from inside the wall in the garage, I decided to check out the home warranty. They were quick to come out but tried to say I had to pay for the drywall repair for them to cut a hole to see about the leak, I laughed and explained how crazy that was.  They "made an exception" and covered the drywall.  Anyways the plumber said the leak from the sink in the garage was in the pipe in the slab which would cost me $800 over what my plan covered.  I told them I'd think about it (knowing I wasn't paying that). The next day a nice lady from the home warranty company called to ask if I decided if I was having them do the work or taking the payout.  I asked about the payout.  Short end I fixed things for $25 a and received a $450 check from the home warranty company. 

With that story I can't talk bad about home warranty companies and can't say I won't purchase one instead of an inspection... 

@Ruud Van de Beeten welcome to BP!  It's a great place to learn, but make sure to verify laws and tax info if you're investing in the US.  I may be in you're area in February, my wife and I haven't mapped out where we are going in Europe yet but have the plane tickets.  Stay safe! 

you should definitely look into doing a 1031 exchange! I'm looking to switch over to Widget Bookkeeping and Tax. Charles has been very helpful and friendly with info and I'm not even a client yet. He specializes in REI. 727.953.9493

 Is this for block or wood frame? 

@Rick Hoskins BP doesn't let you edit after 15 minutes I believe.  That's not a deal I would purchase, I'm looking for a better return and I personally don't like condos.  This doesn't mean you shouldn't. You can definitely find a better return,  but it may not fit your investing style and let you sleep at night.  What about vacancy and maintenance?

@Brian Sinclair "private money" is supposed to be someone you know, not someone you are marketing to.  But with that said if you are telling everyone you know what you are doing and mention your new predicament you should find a friend of a friend of a friend pretty easy.  My good friend ended up having his lawyer be his private money investor.  I haven't put full force into looking for private money yet but plan to soon.  Good luck and hope things work out well!  

@Blaine Gravitt welcome to BP!  I'm next door in Plant City but focus my investing in Polk county.  As a long term buy and hold investor I'd love to share my experiences with you as well as get to know you for when I'm in need of a good contractor.  Let's grab coffee/lunch one day.... 

@Paul Springer I only know enough about lease option to be dangerous, but I'm taking @Jack Shea's lease option class December 5th.