All Forum Posts by: Ryan B.

If the city planted it and it is between the sidewalk and the street, you may have to check with the city before doing anything about it. Sometimes the area between the sidewalk and the street is actually city property.

This is just my 2 cents, so take what you want from it.
#1 You say that you would not feel safe at night walking down the street. So in other words you will probably be dealing with low income deadbeat tenants, probably a few drug dealers, a break in here and there, all in all a rental house that will be rode hard and put back wet.

#2 Tax appraisal and Zillow are not good tools for judging the value of the property.

From a straight cashflow standpoint the numbers may look good, but just remember you will have some pretty high expenses with a rental like this. If you make sure to really do your homework on it, it may turn out to be an ok property. I know everytime I see a rental that cheap I end up finding out that it would not be worth the headaches. I seem to find the best luck with properties around the 20k-25k range, still great cashflow but I don't have to pack heat when I collect rent.

Same as Tim, my tenants' renters insurance covers their possessions, nothing structural.

I think 3 before 5. I may be way off, but I think the morons running this country will come up with some other genius idea that will have no foresight at all and contribute even more to our economic demise. So they will have to try anything they can.

Cash for clunkers, that is old news. Forget the first time homeowner tax credit. They are going to turn the housing market around by combining these two great programs through the brand new, tax payer funded, AIG endorsed: Bank owned Mcmansion for your double-wide program. Can't even afford your double-wide, don't worry they will replace it for free with a bank owned Mcmansion at no cost to you. It is a win-win situation (unless you are a tax payer). They want to see how much more money they can p*%# away.

Sorry for going off subject. I will get off the soapbox now.

Yea that may be a little different. Did you have a place burn or something?

I heard about this guy who had some roof damage. After submitting a couple quotes from roofing companies, the insurance company cut the guy a check to pay whatever contractor he wanted. Then he repaired the roof himself for the cost of materials. Nothing was ever questioned or taxed.

J Scott,

Have you used the kevlar strips before? I was looking into them on the internet and of course every company that sells them says they are the greatest thing since sliced bread. If so what was your success with them and what company did you get them from?

I have a block wall in a basement I need to fix. I would rather use the anchors, but I would have to tear out the driveway for the other end of the anchor to be sunk in the ground. So I am stuck using either kevlar strips or steel I-beams.

Didn't the government just say that the new fuel mileage standards down the road are going to be like 50 some miles per gallon? I think they must have figured out the secret patented formula for Envirotabs. I heard the main ingredient in Envirotabs is bovine scat, chemical abbreviation BS.

Gross rent - PITI - management fee does not equal cashflow. What about maintence, vacancies, eviction costs, how old is the roof, HVAC, etc.

Bryan,

I was thinking the same thing. $1250 rent means I am setting $625 aside for expenses.