All Forum Posts by: Bryan H.

I had this in my home. I painted it and I think it completely changed the space. The lined in the panels need special attention since they are so dark. We used Zilz primer and 2 coats of paint, I think it was Behr.

You are using fuzzy math to get higher looking returns, be careful not to fool yourself.

Since ROI is 10%, I'd sell.

But make sure you aren't using fuzzy math on the sale of the home. Don't forget all carrying costs until it closes, all closing costs, realtor fees, etc.

Build your team of professionals before you buy your first house. You will want to have time to search and vet these service providers before you actually need them. Otherwise you end up in a crunch, take the first one you find - and they may not be the best for you.

Thanks Geof Greeneisen. I was thinking a little less than $3k, but didn't know for sure.

I know Hansons and Mr Roof would be expensive, they spend so much on marketing they have to get it back somehow.

Who did you use?

8k in repairs in 2 years seems high, especially for a newer house. I have seen limits on repairs in contracts, so anything in excess of $250 has to be approved and multiple quote provided. I wouldn't pay anything without seeing receipts and I wouldn't work with someone who didn't work in a transparent nature and open the books to me when I requested. What are they hiding??

I'd review the contract for anything on cancellation. Contracts I have used in the past didn't specify damages for early cancellation. Just that I had to provide 30 days notice in writing. The contract was mainly to detail responsibilities and financial terms, nothing holding either party to being stuck with the other.

I was getting insurance quotes and the company said I need to replace the roof. I've never replaced one and wondering if you can give me a ball-park figure. It's a 1000 sf ranch. Assume tear-off and no repairs needed.

Thanks

Well good news is I didn't have to evict. They eventually paid their rent on the 16th. And they have paid Aug rent today, so maybe the notice got their attention. It's the first time they haven't paid a late fee.

YEAH.

I would guess this 3x income came from the HUD affordable housing guidelines.

"AFFORDABLE HOUSING: In general, housing for which the occupant(s) is/are paying no more than 30 percent of his or her income for gross housing costs, including utilities. Please note that some jurisdictions may define affordable housing based on other, locally determined criteria, and that this definition is intended solely as an approximate guideline or general rule of thumb."

ANNUAL INCOME: Adjusted gross income as defined for purposes of reporting under Internal Revenue Service (IRS) Form 1040 series for individual federal annual income tax purposes."

HUD Glossary

According to this it's pre-tax.