All Forum Posts by: John Whittle

Depends how much it is to rehab and what it would sell for or rent for.  Also depends on what you want to do. 

Why can't you claim everything without a corporation? Are you trying to get a double deduction one for you one the company?

I'd probably pass too.  You might consider buy and hold properties that need rehab before you completely dismiss it though.  If you could get investment properties way below market value rehab into equity and pull off refis and keep doing it for 2 years to build a little portfolio.  It might just make sense.  It would take multiple good deals and your ability to refi multiple times in a short period.  Pretty risky. 

I don't see it as a problem.  I don't mind meeting other contractors its not like we don't see each other at the supply houses.  I'm used to being given a LBC and a show up when you can.  I've meet my competition a few times if you want to call them that. ; )

If I've never done any work for you it'd be nice to meet but it wouldn't be the first time I've done 1000s of dollars in work without a face to face.

I've never filed one period but I believe a contractor can file one prior to the work as a precaution.  The contractor would then sign a lien release at the time of final payment.

I'd go with Michael Wallet w/ star one in Cincinnati.  I've known him for about a decade but was using another Realtor I work for.  I should of been using Wallet from the beginning.  He's way better than the other one.

Keep in mind some areas have combination sewer/rain.  A lot of times its overloaded because they haven't done it like that in a long time.  So everybodies on the street backs up with heavy rain.  If you think it was from the snow. You might just need to have it augered and/or a backflow preventer installed.

I wouldn't worry about the knob and tube.  Its not the knob and tube thats bad, its that it was designed for very light electrical use.  Being that enough of it wasn't ran for todays uses.  Homeowners over loaded it and uped the fuse size.  Giving it a bad reputation.  As long as its on the right breaker it should be fine.  Sorry sweetheart you can't vacuum and blow dry your hair at the same time. Home inspectors write up every little thing to give their job meaning.  I wouldn't worry about it.

If I were you I would be putting an ad up for a cheap handyman.  If you don't have one nows your chance to run thru some til you find a good one. 

 He might take all week to gut the place by himself but thats only $600 if you pay 15/hr.  Then you can test him on painting and such.

I wouldn't be as nice as everyone else. I'd charge her for making the contractor come back 2 times. 

I think there is more to this though.  No caulk doesn't cause mold that fast.  What kind of shower is this tile or surround? Wheres the mold at? Either there is another issue the contractor is not seeing, he messed up to begin with and doesn't want to tell you or this tenant is crazy.  Is there any drywall thats actually soaked? I'd tell her she can have out of the lease or pound sand.  .01% chance she'll actually sue .0001% she'd win if she does good luck.