All Forum Posts by: Darren Budahn

Daniel Holtz It would be good cash flow but why buy something for 20k, spend 50k, and have it be worth 70k? If you aren't concerned about equity, couldn't you just buy another 4 unit that is move in ready and not have to deal with the massive headache of a 50k rehab? If I'm going to spend 50k on a rehab and all the time involved with doing so, I'm certainly going to back sure there's equity when I'm finished.

@john anderson

I'm talking about a criminal trial which is what would be happen if the plumber was charged with theft.  

And I'm glad you have been in the courtroom when a landlord has been sued.   You just stated yourself that the tenant would be suing the plumber.  So how is you having at some point been in a courtroom when a landlord is getting sued (under quite different circumstances I'm sure) at all relevant to a tenant suing a plumber?

John, Feel free to reference @Don Konipol post above if you want to see why your advice  is incorrect 

So if a judge needs to decide who is lying between the tenant and the plumber how does this in any way involve the OP? How is the OP in any jeopardy of being liable as you suggested? And by the way, for a criminal case to get before a judge, the tenant would have to file a police report and have actual evidence that something was stolen. Then, a DA would have to bring charges. And then the plumber would decide decide he wants a bench trial instead of a jury trial. All this would need to happen for your last post to play out the way you suggested. A very likely scenario I'm sure. Lol

Welcome to BP Curt. I wouldn't get too hung up on the rules of thumb. There is certainly some good advice that can be used from the rules of thumb, but it may not always apply. But if you are just getting started, I would suggest getting to know your local market or the market where you want to invest. Find out what properties are selling for and look to buy something under market value. Decide what your goals are and come up with a plan to get there. Good luck.

Do you know this person at all? If this is a random person you don't know, I'd certainly be doing a background check and credit check b

Find out what section 8 will allow you to charge if you want to continue with renting to section 8 folks. But if they are below market and their lease is up now is the time to raise the rent.

I wouldn't worry about the tenant suing you. Lol. It's not like you sent a plumber there and gave them a key to go there when the tenant was gone. The tenant was present. Somebody is obviously lying here. My money is on the tenant lying. But the burden of proof is on them to prove a crime was committed. Tell them to call the police and their insurance company--if they have renters insurance. And I would disregard john Andersons advice

@Account Closed

You specifically said the OP would be lying if his contractor had a higher bid than the seller's contractor. 

John Anderson So if the seller's contractor comes back with a lower bid than the OP's contractor that means the OP is caught in a lie?????? Do you intentionally say nonsensical things like this in thread after thread or do you truly believe this ?