All Forum Posts by: Danny Rodriguez

@Nathan G.

This thread has made me realize that I must do monthly or bi-monthly inspections and hold them more accountable. Nice guys not only finish last but they lose profit lol. Thanks for the thread

@Nathan G.

I should’ve gotten my tenants screened by an agent first. Both were recommend by a friend. One tenant was always late. My second tenant I had no issues with. But both loved like pigs and there was quite a bit of damaged done to the apartment. They also brought in roaches and rats due to their messy unorganized lifestyle.

@Shaun Weekes

I added him to the title. A friend recommended I do it. Very much appreciate your input. Thank you.

I accepted a $10,000 “gift” from my father for the down payment for an investment property. The lenders won’t accept the “gift” money, only money from my 401k which I found out recently that I cannot withdraw because it’s a Roth and 401k Roth only allow “hardship” loans. A regular 401k would allow any loan for any reason. I’m in underwriting. I’m About 90% into the process and this issue came up. Any advice or opinions ?

@Nadir M.

Cartridge replacement is not an emergency. It just regulates the pressure inside the valve. Basically it prevents hot water from coming out the shower head if someone flushes the toilet. Or losing hot water from the shower head after someone uses hot water in the sink or kitchen fossit. They could’ve called you first.

@Joon Lee btw I’m not planning on purchasing a house with an oil boiler in the future. Unless the numbers look right after removing the oil boiler and converting it to some other form of heat (preferably electric).

Correction. $1000 income after mortgage , taxes and insurance. Didn’t include the other expenses (vacancy, repairs, capex, management.)anyway@Mike Dorneman + @Joon Lee . I found out that 1 out of the 2 houses I was looking at has been converted from oil boiler to electric heat. The house needs some repairs outside. Estimating around $5,000. Should maintain well after repairs. The inside I would rate a 6 out of 10. 10 being best. Tenants have clutter all over but I seen worse tenants. I’m gonna buy it. It cash flows great

@Danny Rodriguez I heard companies charge $500 monthly more or less for oil during the winter months

I’m looking at two deals that can make me $700- $1,000 monthly profit. After mortgage, taxes and insurances. Both have oil boilers. What should I expect? Is it a deal breaker?

@Nick Rutkowski

Wow. The longer I’m on this planet the less I start putting my trust in people. Morris Invest = Scam. I even partnered with a good friend of mine and discovered he couldn’t keep his word. BP is always saying to find partners but I’m seriously not trusting my money with another person anytime soon, even if they put half of their money up in a deal. People are unpredictable. Thanks nick, appreciate it