All Forum Posts by: Andrew S.

 I hear you, Arnie - the "other" fees (garbage, sewer, recycling, rainwater run-off, etc) far outstrip the actual water cost on my bill as well!

Back to the topic though, I totally agree with the "toilet flapper crowd" here.  I have found this to be the number one item for service calls and water leaks.  So much so in fact, that I have decided to replace ALL toilet flappers at each turnover or minimally every 12 to 18 months just as a preventive measure.  While they are supposed to last longer, all it takes is one service call at $100 bucks to make up for the purchase of a whole box of new flappers... people will toss those bleach disks into the toilet tanks and those just eat up the rubber flappers in no time.

 This post says it all.  It nicely and convincingly illustrates what seems so completely clear and obvious to everyone trying to give advice on this thread.

I think @K. Marie Poe hits the nail on the head - it looks like the OP as well is agent misunderstand the EM concept.  You do NOT submit a briefcase full of cash along with the offer.  Instead, you submit a commitment (often in the form of a copy of a check) that you are ready to hand over that briefcase of cash as soon as (or within 24-72 hours of) the offer is accepted.  This assures the seller that they will lose at most 24-72 hours should they run into a tire kicker that is not going to perform.  As opposed to have the property tied up and get nothing in return if the buyer bails.  

So, all it is is a commitment to pay EM on acceptance of offer - if the offer doesn't get accepted, then no money is transacted.  Very simple and powerful.

I'm only a student of notes investing and by no means an expert but from MY understanding of the situation it is now a requirement.

But no need to listen to a student when there are many true experts on the board:

@Dion DePaoli @Bill Gulley 

@Sabrina Calnan 

You are new to the board - welcome!  However, you are not allowed to advertise in these forums except for the Marketplace forum. Please post any ads there (need to upgrade your account to Plus or Pro to post) 

I think it depends on what else you have in the house.  For example, if this is the only full bath in the house, then you should definitely install a tub.  Some folks really do want the option of taking baths over showers or they may have small kids who need tubs, etc.  If you have other baths with tubs in the house, you may be ok with a really nice, large shower.

I agree with others, lack of EM is very likely the reason you are being snubbed. @Mark Forest 

And yes, as pointed out by @K. Marie Poe below - ability to provide REAL proof of funds (bank statement showing balance that covers offer price) is also key.

@Brandon McCraney 

 Are you looking for conventional loads or commercial loans?  If the latter, ping me and I'll send you some info

@Kyle Kelley 

 Definitely, let the PM collect the rent.  You are already paying him/her for the convenience of not having to deal with chasing down tenants, payments, etc.  All you should have to do is cash the net income check each month and make the big (repair, renovation) maintenance decisions as well as approve new tenenats

@Kate Stallmann 

Not really enough data, but that's a very tight deal at best and it could turn quickly into a bad deal if there is any kind of deferred maintenance at all.  Is there any room for negotiations or is the 200k a firm number?  What are the comps in the area?  Dang, those taxes are massive!

Agree with @Jean Bolger - this only works if not mortgages.   Regarding umbrella for liability, I doubt you'll find a company that will just write an umbrella on an uninsured property.  Usually, each item (car, property, etc) has to carry a certain minimum liability and then the umbrella is on top of that. I'm guessing your type of general liability insurance would be quite a bit pricier than a normal umbrella, if it even exists.

That said, I totally agree with your premise - self-insuring might pay off for a substantial portfolio.