All Forum Posts by: Chuck W.

Vacancy and collection loss is usually a plug number by brokers at 5%. As far as section 8 goes I have never experienced any difference between non section 8 tenants and section 8 tenants. Is the current rents at market or is there any room to raise rents with some cosmetic updating of the units. I would definitely not allow any tenant to ever pay in cash. Get rent estoppel certificates from all existing tenants to verify amounts. Is there a reason why the owner would pay utilities?? An 8 cap with some room to raise rents with minor updating could be a good deal. I do think as the real estate market improves, the multi family market will start slowing down.

Contact me I have money to put down up to 40%. I am currently rehabbing in Tennessee but want to get back into California market. Chuck 503-339-6954

Always verify what any employee at Lowes or Home Depot tells you. There are a lot of knuckleheads working at big box home improvement stores.

I just switched from Home Depot to Lowes. Lowes beat Home Depot by almost 20% on a $10,000 material order. Lowes has a pre fund account that gets you a 5% discount on every purchase thru pre fund account. They are very accommodating and are giving me great service and free delivery. Good bye Home Depot !

Why not just buy one done for $140,000 save the aggravation of an extensive rehab ?

So plumbing is probably piggy backed together, I would check under bathrooms & kitchens. Turn on water have someone with flash light check.

I am in the middle of a flip and going to paint existing oak cabinets white. He is spraying with 2 coats oil based primer and 1 top coat oil based. He is very good painter with 20 years experience. He said you will see grain from oak after painting. Make sure to use oil based paint. I doubt that the Glidden paint from Home Depot is oil based.

Builders expect a punch list on a new home, don't hire home inspector, walk it yourself

I have had experienced short sale real estate agents negotiate properties for months and waste a lot of time for nothing. I would look for another source of properties.

All easy fix stuff. You need a good handyman or contractor. We deal with these issues all the time on flips.