All Forum Posts by: Chris C.

 wouldn't making it multiple units require permits (and possible rezoning from commercial - industrial to commercial - multifamily)?

 i usually do 8% (which is equal to one months rent)... figured if they don't move out, it could be used towards eventual turn over costs 

how close to market value is the asking price?

go for it! as was mentioned previously, your costs arent exactly true (for example, missing closing costs, and repair cost) but it looks good otherwise

the repair cost is wayyyyy too low (100?) (think tens of thousands for any base line rehab for a forclosure)

it would depends if you were planning on reroofing anyways.  If you were planning on reroofing and the cost of the materials was cheaper than your quote, then just pay for the materials.

however, if the roof was fine, and basically they just replaced something that did not need replacing, then yes, the issue would be between the other roofer and his GC (but i would eat the cost of them filling up the dumpster, as the cost probably wouldnt be worth the fight)

Just my 2 cents

why did you not just cut a ditch along the edge and then either pipe it into the sewage line or use a sump pump? seems like it would have been a wayyy cheaper and less time intensive fix?  i don't know if i would trust underfloor piping for a house i live in

im not sure how that would fix your problem.  6" of stone would support the weight of a mud slab of concrete, but not an entire house foundation if the ground under the stone was super saturated.  if the house is resting on foundations pillars, than thats difference.  

just trying to learn in case i encounter the same thing

i personally wouldn't offer utilities unless thats the norm for the area.

also, slighly concerned that you decided to purchase the property without having all your numbers in line first.... what you calculated for you PM fee, is what you should expect to pay.  for 4 units, unoccupied, get good tenants... and you won't have to PM that much