All Forum Posts by: Bruce Woodruff

Did he realy think that anyone would not be smart enough to see that $100k is the same as $102.5k minus $102.5? Yes, he deserved a laugh in the face reaction...

If the numbers work on #1, and you replicate - exactly - the financial part. then how could it fail?

Everything is all about the numbers.

Quote from @David Krulac:

would want drilled well, would want to know the depth, age, and yield (gallons per minute).  But we have several properties with well, have had to replace the pump, which I've found last 20 years or more, but we never had a well go dry.  We have drilled new wells on vacant lots, and once had to drill a new well at a house.  To conserve water consumption would use flow restrictors, low flow showers, and low capacity toilets. 

"would want drilled well, would want to know the depth, age, and yield (gallons per minute). But we have several properties with well, have had to replace the pump, which I've found last 20 years or more, but we never had a well go dry."

This is worth checking. How large is the aquafer? How do the neighbor's wells fare? Nothing will destroy a property's value like having a well run dry.....or even a reduced gpm rate. 

I have not had one of my wells run dry, but have seen it happen in Arizona. It is a mess. Trucking in water, or having it delivered, is no fun at all.

So check with the City/County and ask neighbors, they will all be happy to tell you about the size of the aquafer and the various flow rates.

I have had several properties that run on wells, still have one. As long as the water is tested and comes back with a healthy report, you are good-to-go. 

Even if there are problems with water purity (like Arsenic), you can still be fine, you'll just need to install a water filter.

Also be aware that you will have to do the occasional repair. Most common is one of the pumps, but they last for a while once they're replaced. 

Wells are actually preferable in some ways, like if there is a power outage that shuts down city water, you can still run your well on a genny.....

I have used the HomeCoin program a few times, and with great results. It takes a little more work, but you are in control of the process instead of a RE agent who doesn't really care about your house the way you do.

I would say that you need to raise your offering to the buyer's agent to 2.5%. And of course, get professional photos...

Relax.....get your other obligations out of the way. Those are both huge endeavors. Save up some $$.....You are very young and have all kinds of time......

They are right ^^^^You must get your OWN eyes on your property. Never trust anyone else. This is on you as much as anyone. Even if this new company appears to be better, or even if you have a 'team-in-place' down the road, you still need to get to the property(s) at least once or twice a year. If you cannot/will not do this, then I would get into a different investment strategy...there are easier and safer ways to make a dollar......

In my experience, bth as a STR host and a STR guest, I found that most people on vacation will not cook in the unit. They are there to have fun and will eat out (or bring food home). So a dishwasher is a waste In most cases....

If you can install a nice larger single bowl sink, that would be nice, and provide a wash/dry rack as well....

Thinkof it like this - these buyers are running a business, and they need to realize a profit. So there is no way that they can give you 'fair market value'.... they need some room for their profit...

I think 70 is a very reasonable low setting.....Just my $.02...