All Forum Posts by: Allen McGlashing

I just bought a property with a bathroom in the basement and it has the ejector pump. If I had the option to get rid of it I would; it already **** the bed and started flooding the room the pits in. It cost $1,300 to replace and ever since it’s been replaced it sticks and you have to unplug it and plug it back in for it to restart and the plumber can’t figure out why. It’s also very loud once the pump kicks on. Just wanted to share my experience. Goodluck 

@Allen Tracy it’s good to hear that you like “Real Property Solutions” I am in the process of interviewing them. I would like to connect more with you as I think we both doing the same. 

@Jeremy Nault I had to deal with inherited tenants. Since they are Month to Month I would write in addendums that you might want to add (with 30 days notice of course). I would ask for verification on the payments made hopefully the previous owner was using a service like cozy or rentReady that will easily show you. 

@Mace Moseley

Depending on where you live the most cost effective thing to do to get started investing is to househacking. If your an agent that actually invests and understands investors that opens up your worth to a lot more people. Also start posting on here (BP forums).

@Remington Lyman

That would be great. Thank you

@Brandon Goldsmith

yes please send me over a list. I would greatly appreciate that.

@Kevon Reid you don't need a LLC. The protection could be covered by an umbrella policy. Look into that with your insurance company. I recommend a LLC when you can't get anymore financing in your name. My experience is once my DTI ratio got too high I had to go the hard money route because I wouldn't qualify for conventional financing, so I opened up a LLC to get financing through a Hard money Lender. I strongly believe that's the only reason to open an LLC is to get more financing options.

@Gustin Schumacher it would be very tough to take any money out of if the purchase price and appraisal number are the same, meaning you wouldn't have any real equity into it only your down payment. You could try the lender "lower" for a HELOC they go up to 95% LTV that's the highest I've seen, but again that's a HELOC not cash out refi.

Hey everyone, could any recommend a property manager I can vet in the Columbus Ohio area. I am getting my list together to start interviews and would love actual referrals from fellow investors. 

@Sean David Gibson I am doing an out-of-state deal so I was hoping to just get the pictures from my agent first then budget for repairs on their opinion and my thoughts on the pictures. Maybe like a general idea like a kitchen would cost around $10k and bathroom around $6k. I guess what I could do is make an offer and pay a GC to go in with the inspector and estimate a rehab and negotiate from there.