All Forum Posts by: Gary L Wallman

I came across this while scouting properties on Zillow ... f'd up rehab ...

The "kitchen sink" is a double-bowl bathroom vanity. The wall behind it ends in the middle of a window on the outside wall.

The range hood is under an upper cabinet which is up against the ceiling. Good luck reaching either one. It hasn't sold after over a year. Yet, they actually RAISED the asking price.

Hey BPers.

I have my first unit and, to be honest, it's being sitting the last 9 months because of other business endeavors.

I'm circling back to it and my question is this (see picture).

There are 2 light fixtures on the sidewall that really make the place look dated.

There are no can lights in the ceiling and am considering removing the 2 sidewall fixtures and instead adding 4 overhead

4 can lights in a square pattern.

I estimate it will cost around 1300 to add the can lights, move the ceiling fan to the center, remove the sidewall lights and patch.

Would you make this expense yourself? Or just swap out the fixtures for something a little fresher?

Do overhead can lights increase desire from the rental prospect?

Thank you for your knowledge and experience!
Dan

modern farm house see our product in Oregon ..  ivyridgeestatescanby  dot you know what  we have pictures there and the same basic white and black its super popular in our area.

One of my tenants is pestering me to replace a perfectly working jetted tub with a plain tub, she is quoting that it is tough to clean and due to that she is getting fungal infection and quoting medical reasons, Plumbers are quoting between 2 to 3K to replace the tub, I asked her to use professional cleaners to clean the tubm but she is pestering me, Am i required to replace the tub, since she is quoting medical reasons will I be liable for any medical bills. She is not willing to pay for the change, All the units on this building contains a jetted tub and none of my other tenants seems to have a problem. How do i handle this situation. Apreciate your reply. Thanks.

Hi All,

I won an offer to a home without basement and am wondering if I missed anything here. This is in Kingston and my realtor is very good and trustable and he did not warn me anything about homes that don't have a basement.

The semi I bought was under market and has no basement but is less than 20 years old.

Is this fine or do I need to look at anything that is concerning in these type of homes? I am not concerned about resale value as I bought this for rental potential and if that is the only concern I am okay with it.

Thanks,

Ram

Is anyone else experiencing slow bookings? I am in 3 different vacation heavy markets and my April & May calendars are at about 25% occupancy.

‘Unhinged’ And ‘Abnormal’: Fed Warns Of Housing Bubble As Average Cost Of New Homes Hits Record High

https://www.dailywire.com/news...

The continued rising costs in the housing market have caused the Federal Reserve to warn of a housing bubble, something not seen since just before the market crash of 2008. Phillips said this means the Federal Reserve sees people overpaying for houses causing a “market exuberance.” The Federal Reserve called the exuberance “unhinged from fundamentals” and “abnormal … for the first time since the boom of the early 2000s.”

Now, the Federal Reserve is warning about a housing bubble.

Housing prices have spiked 25% over the past year, and since 2012, the cost of a new house has doubled, Phillips explained. “Cities with the biggest spikes were Phoenix AZ, Miami FL, and Tampa FL, but overall, it was houses in southeastern states that saw the largest spike in 2021,” said Phillips to “Morning Wire” hosts Georgia Howe and John Bickley. “But again, it’s really everywhere across the country.” Including Texas and California

Looks to me like we are at "Euphoria" sliding toward "Anxiety" - hang on for the ride

I have done a ton of pre foreclosure and court house steps work in my career.  I have read every letter ever written by those sending direct mail.

out our way if your in foreclosure you will get no less than 100 letters  50 phone calls and about 10 knocks on the door with knocks on the door by far the most effective tool.

I used to just laugh at these letters.. seems like everyone of them took the Guru approach IE   Explaining they too were broke and living in their garage or car and somehow pulled out of it and so we know how YOU are feeling and we are just here to help you  blah blah blah..

Now for a dose of reality ..   people in foreclosure are in serious denial.  they rarely respond to the letters if at all..  Keep in mind realtors and lenders are sending them letters too  telling them not to deal with investors looking to steal their equity.. then you have bankruptcy attorneys as well.

So what we found that worked was knocking doors trying to get a conversation going learn what it is they want  and 95% of them want to stay in the home. Out our way it became illegal to buy a home and rent back to the occupant ( I bought over 200 homes this way ) .. but no more.Then you have junior liens etc etc..  So bottom line you can try the letters and U need to be mailing to LOTS of people and have a wide net to get responses or you need to just pull up and try to talk to them without getting shot.  The way I personally did it is I had 3 teams knock every NOD ( notice of default) in the Portland metro area ( 2 million population)  each team was boy /girl with the girl by far the brains of the operation and owners tended to be more reseptive to them.. Then and only then they would set an appointment for the owner to talk to them ( me )  and further more they were really only truly motivated if its was within 5 days of losing the home.. everything else failed.. the whoelsaler who promised them the moon.. the lender the realtor etc..  So you need CASH and you need to be able to do your own title reports and prep your own deeds  because many times your taking title the day before the sale and having a Courier take your cashiers check to the foreclosure trustee to bring it current or pay it off.. its a big risk play  no title insurance  but that my friend is where the big scores are made RISK=Reward until it became illegal in our state  of OR WA and CA.

Bitcoin isn't money @Gary L Wallman. In the United States, bitcoin is classified as property. Think of it more like digital gold rather than a currency and it makes more sense. 

I'll happily take volatile appreciation over guaranteed depreciation any day.

source: https://howmuch.net/articles/r...

I still think Bitcoin has as much value as Dutch tulip bulbs.  But hey, maybe this time really is is different.

It will be interesting to watch how the crypto market does during the coming recession.