All Forum Posts by: Dan Dunmire

@Joe Scaparra is spot on, drop 1 right away, then 2 asap, they both need to go.

You could add LED lighting installed hidden away under the cabinets, this provides a great look, extra light for working in the kitchen and adds value at a low cost.

If you're looking for new flooring, possibly look into buying bamboo floors as they're popular currently and thus are often over stocked and can be bought from a company like lumber liquidator for around 1/ per sqft.

This sink fixture is often the only thing needed for the sink to look new, getting one with a hands free feature would be an added cost item.

Another low cost-high reward option would be replacing the counter top and repaint the counters and cabinets. 

Good luck!

@Jeff Macdonald Assuming that this isn't your last house and that you are trying to keep you investment money, as well as looking for your next deal; why not do a 1031 Tax exchange? This will shield your sell and set you up with your next deal.

@Curt Davis Thank you for that point of view, it was something I wasn't completely clear on as well. In the market I am in I am finding houses for 10k or less, the few houses I'm looking at are all 6k or less. The house I just bought was only 2k and it came with a clear title, solid foundation and house shell. Based on your advice I think if I accept 20k, I should be able to provide the other 10k and make a deal with using only one lender. Thanks again!

A picture would be helpful for a more accurate solution recommendation. Based on my interpretation on the information provided though I would recommend the fallowing:

If you have just a knee wall (mini-wall) it could be removed to provide a few extra inches if that's all that's needed. Then depending on the door frame, you could need to reinforce it with a 2x4 and re trim it accordingly.

I have recently started taking actual action in my investing and found a great deal after educating myself on real estate investing over the last year and some change. I started with a set plan and simply didn't expect to find as many capital resources as I have. After securing my new property and talking to people about it I've had two people pull me aside and ask how they could invest. I tried pointing them in the same direction as I was in but they both said they would rather be a private money invested to me even though I said I would show/give them all the resources that I've found thus far. They both said they want to put in a minimum of 5k, but one said he is really looking to invest around 20k. I'm nervous about this because he is a co worker. I've since gone back and read the private money financing section in my books and have watched a few seminars online but I'm still a dear in the head lights. Should I give them a more favorable APR to start with? Should I pay their interest monthly? Should I set up a few different packets on how I will accept private money financing? Another issue I see is I've only just started and have no business structure currently implemented, (though it is thought out). Should I set the up before I take on an invested? I assume I need to use different bank accounts correct? I'm nervous and I know this means I'm on the right path, I love the feeling but I don't like to misstep. Advice is more than welcome because this is not a rant but rather a call to the more experienced to tell me what mistakes to avoid. Thank you to all who have read this and replied, your kindness keeps me here on BP.

Thank you all for the replies. It looks like my next move is to get legal advice.

Steve Babiak I did have it served, it is on my land. From my understanding it's only hostile if I don't want it there. I in fact want it there because she has dogs. In any case I don't mind the fence if she will agree to give me access and sign an acknowledgement that explains I'm allowing her to use that small strip of land. How do I bring that up to her though without being the jerk the just moved in and made her tear down her fence.

Hello BP. Well the time had finally come after all the books, research, and searching for a property that fits my investment strategy; I've bought my first house cash. It was a foreclosure the is distressed. I should be able to spend about 30k to improve the house to an ARV around 40-60k more, depending on the exit strategy I go with. Anyway, the reason for my post is to ask about my new neighbors fence. There are two fences side by side, mine is straight and goes from the ally down to about 10 ft from my house. The neighbors fence starts in the ally and runs diagonal straight into the corner of my house. The survey shows it to be on my land also. My issue is that I can not perform maintenance on my house (replacing siding and windows, also soil has built up and is touching the bottom layer of my siding). I actually don't care to change how the fence is currently, I should be renting it after I renovate/repair the house, I just need access to my part of land that is on her side of the fence. It's about a 10-15 foot section of my house that is fenced off into her side of the fence but is about 6" on my side of the property line. I'm basically asking how I should approach her about it. I have done a bit of research about adverse possession and in Pennsylvania it's a 21 year period and it's up to the person trying to take possession to prove all the requirements have been satisfied. I understand this to not be possible for her because she can't prove how long the fence has been there (it was installed without a permit) and it's a rather new fence. Additionally it's not considered hostile because I want the fence there, it has just now become time for me to want access to the side of my house. My own idea to remedy the issue is to inform the neighbor that I'm trying to make repairs and bring value to our street. That I do t mind the fence being as it is as long as I can instal a gate that is between our houses and could have access for making repairs and performing maintenance. Also I would want her to sign an acknowledgment letter stating that her fence is not against my will and that she must maintain the fence and land. Also while I have your attention, what should I do if she refuses? Thanks in advance for all replies!

Cash for keys seems like your best bet. Have you tried talking with her and asking her reasons? It seems like she is thinking that if she pays you then you'll evict her and she will be out all that money. It sounds to me like she's clueless, I don't want to sound mean, but if her reason for not paying is because she thinks you'll evict her then clearly she doesn't have a full grasp on how real estate works once a landlord changes.