All Forum Posts by: Chris Dengel

I can be quite handy, and do some side work when time allows. Just let me know if you would like some pictures of various projects I have done. I have done a little bit of everything from plumbing, drywall, small decks, whole kitchens, bathrooms, handrails, etc. I've even jacked a house to replace a section of the girder and some joists. If anyone needs anything just let me know, I can't guarantee I'll take on the project, as it is just myself right now. You can reach me here on BP, my contact info is on my profile. 

Excellent question! I was thinking the same thing. I wonder about protecting the sub floor from water in certain areas like bathroom and kitchen. That's why I believe most people (myself ) usually stick with linoleum or tile. I feel like if the plastic underpayment pad is put on properly, it would be adequate protection. I also can't help but to think that carpet in bedrooms is kind of a style people have gotten used to with modern homes.  I remember having wooden floors in all the rooms of our Victorian house growing up. My last unit has zero carpet, as will my next.  I don't see any harm in using a laminate floor in all rooms. I think it would look good. Besides the tennants can always put down a rug or remnant for comfort.  Congrats on the 6 unit. 

I just listened to Tim Ferris' podcast with Tony Robbins on his latest book which will be available on the 18th. Money-Master the Game, sounds like it might be the new "Rich Dad" for beginners and pros. Is anyone anticipating the release like myself? I am curious to see what his take on real estate is.

Thanks, I didn't know if they were on the subject of VA loans or not. That would make sense. So, you wouldn't have to get another (conventional) loan to cover your original (VA) loan just because you moved out. But you would have to get another loan to purchase your next property. I was thinking that if I bought another property and moved into it, and kept my house, there would be some type of financing that I didn't know about. Again, thanks for your response and especially your service!

In show 86, Corey mentioned that if you move out of your house, you don't have to get another loan. I was hoping someone could elaborate on this. Is this a loophole? 

With new tenants, I check monthly with the HVAC filters. It is important to check faucets, leaky doors, windows. Also once a year to silicone around sinks/tubs. Probably more importantly safety items like hand rails, side walks and stairs. Remember that even with the best of tenant relationships, tenants usually feel like they may have done something wrong if something gets broken or worn out and be reluctant to tell you about it.

I recently inspected a foreclosure to buy and hold. With the help of the new, and pretty awesome, BiggerPockets investment calculators and my own due diligence, I would like to continue with the contract. Here's the thing.

The place is loaded with junk. Lets just "pretend" the property sold at the courthouse stairs "Monday". I talked to the neighbors today and asked some simple questions like, septic or sewer, was anyone hanged or murdered here, when is the last time you saw the previous owners. Their reply was "the day before yesterday("Tuesday"), they were getting stuff out."

I am not sure what to think, and its not really any of my business because I don't own the property, but what legal right do the previous owners have to go in a house they just were kicked out of, and what are the things I can do to make sure I get the property that I looked at and am going to make an offer on "Wednesday".

This will be my second buy and hold. I could use the advice of a seasoned investor. Any and all(most) comments will be appreciated. Thanks in advance---Chris.

Buy assets, not liabilities.