All Forum Posts by: Dustin Lavender

I’d offer less

BP is great, the biggest thing I would be concerned with is advice from people who don't actually invest. Someone correct my numbers, but I believe the survey results a few months ago revealed that like 70% of BP members were still working on their very first deal! Be weary, as they say advice is free.

Welcome to BP man. A lot of resources on here, but the deals happen in real life. Don't get caught in analysis paralysis.

Here in Searcy I love to pay utilities on my units. On my 1/1 apartments I charge an extra $150 a month for utilities paid option. Water always runs 43$ which is the minimum and electric rarely goes over $80 on the upstairs units and usually stays below $60 on downstairs units. I'm making a killing paying utilities. I've even thought of getting rid of the separate water meters to bring my bill down, right now I pay a minimum for each unit, I would save about $250 a month on a single meter.

Currently using Olympic home from lowes semi-gloss paint #OL-128 which is a nice Grey-ish blue color that people love. Trim it out with a eggshell color called "maybe mushroom"

I am currently in the process of negotiating on a foreclosure through them. Be prepared for them to ask for earnest money. After a certain amount of time they will start dropping the price, per their internal regulations. I have seen the price of the one I am interested in drop at a rate of 5k per month here. I am waiting for the next price drop in a week, because it will be at my original offer, which they declined 2 months ago lol

**disclaimer: I am a commercial energy auditor and work in the residential sector as well**

One thing that all landlords and property owners should do is call their local utilities and see what energy efficiency programs are offered by their utilities. Here and other states that my company operates there are significant rebates on things like new furnaces, ac, refrigerators, water heaters, and even ranges. The electric company here will even pay to have up to 14 inches of insulation blown into an attic at no cost if the house needs it. 

@Johann Jells

I don't think there is a liability issue for me for several reasons. First of all that's like saying if you know a house was built in 1970, you have a liability because the wiring and plumbing don't meet current code. Sure it's a maintenance issue, but not a liability. Arkansas is an as is state. I could literally rent a house to a tenant with a man sized hole in the roof and never fix a maintenance issue and still be in the right. 

Also, I believe I can have plywood up in the same manner that people who do full gut renos leave shiplap exposed, make knotty pine walls, or make feature walls out of scrap wood. 

If I installed it, I would probably put it over existing sheet rock or whatever else was there, the house in question may be done this way, idk though because I didn't install it. 

Originally posted by @Johann Jells:

Originally posted by @Dustin Lavender:

We just bought a house in April that someone else "hardened" ( I call it tenant proofing). They put up 3/8 plywood on all of the walls covered in drop down texture. I hung a fan so I know for certain one of the bedrooms is 3/8 plywood ceiling as well.

Plywood eliminates the need for the framing behind towel racks and such. Extremely hard to damage it. Costly up front, but only a few dollars more than Sheetrock per sheet.

I'm not sure I would pay to do this in a house, but there is no visual difference and it's tough as nails.

 What about fire code? If it's not all fire treated grade ply you have a liability there.

We just bought a house in April that someone else "hardened" ( I call it tenant proofing). They put up 3/8 plywood on all of the walls covered in drop down texture. I hung a fan so I know for certain one of the bedrooms is 3/8 plywood ceiling as well. Plywood eliminates the need for the framing behind towel racks and such. Extremely hard to damage it. Costly up front, but only a few dollars more than Sheetrock per sheet. I'm not sure I would pay to do this in a house, but there is no visual difference and it's tough as nails.