All Forum Posts by: Hanish Sampath kumar
Hanish Sampath kumar has started 7 posts and replied 12 times.
Post: home maintenance question
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Brought a new construction 2 years ago so did not have any maintenance issues till now, questions for the experienced folks out there, what are the essential home maintenance need to be done and how often ?
Post: erratic rent payment behavior
- Posts 12
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Appreciate both your feed back.
Post: erratic rent payment behavior
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Currently my LTR has been managed by a PM. I just found out from the year end financial transactions , my tenant has been frequently late with rent payments, but some how pays the whole rent with late fee in fragments by the end of each month. He has been with us for 9 months never missed a month's payment so far. The lease renewal is up in a few months should I keep him or not renew the lease. I never suspected this late payments as my PM would consistently deposit the rent 15th of month in my account. I am also upset that I was not told about this by my PM until I read the financial transactions for the year. Need suggestions from the hive , thank you for your time.
Post: Urgent - Gatlinburg - Sevierville- Well water and septic capacity questions
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Quote from @Julie McCoy:
Quote from @Hanish Sampath kumar:
I am currently under contract on a 1-bedroom septic, 3 full bath, (has 3 full bedrooms with loft space) cabin near Gatlinburg. Priced at 740 K. plus needs 30-40 K to set it up and running as a STR. Talking to some local contractors they told me there were 700 plus cabins in that area last year ran out of water and had to spend extra on water to refill their wells. Also cautions me on renting this cabin as a 3-bedroom 3 bath as I may not have the water capacity and may overload the septic leaching field. I have asked my home inspector to check the water flow speed in the well and he has not noticed any septic defects (this has been only used second home not on a rental so don't know the true capacity for both systems). I calculated the ROI based on 3 bedrooms in that area if I cannot rent it as a 3 bedroom this deal will not make sense for me. Anyone in the area who have experienced similar problems please shed some insights on this specific situation.
So based on your post, it sounds like there's no red flags with this particular well, just somebody saying that other wells have had problems in the area. Is that correct?
As Luke said, wells come with their own set of risks, nobody's going to tell you a particular well will never have a problem. That said, the overwhelming majority of properties in the Smokies are on private wells, and a vast majority of those are not having water production issues. If you are concerned, have a well professional come test the production level of that well.
Even if you do have to have water delivered, it's stressful but hardly the end of the world... there's services locally that will do a same-day water delivery, it costs a few hundred bucks. I've done it twice, over 5 years with 7 cabins on wells. Just the cost of doing business.
Re: septic, there are lots of properties in the Smokies that have more functional bedrooms than the septic capacity says. I own two and I've never thought twice about it. You probably don't want 20 people using that septic system every night, but you probably don't want that many people anyway for plenty of other reasons. If you're concerned about it, I'd recommend calling a septic company or three and asking them if they see very many issues with this sort of thing.
Thank you for your input. I am first time investor and just anxious about stuff like this as I have never dealt or knew about it before.
Post: Urgent - Gatlinburg - Sevierville- Well water and septic capacity questions
- Posts 12
- Votes 0
Quote from @John Underwood:
Quote from @Hanish Sampath kumar:
I am currently under contract on a 1-bedroom septic, 3 full bath, (has 3 full bedrooms with loft space) cabin near Gatlinburg. Priced at 740 K. plus needs 30-40 K to set it up and running as a STR. Talking to some local contractors they told me there were 700 plus cabins in that area last year ran out of water and had to spend extra on water to refill their wells. Also cautions me on renting this cabin as a 3-bedroom 3 bath as I may not have the water capacity and may overload the septic leaching field. I have asked my home inspector to check the water flow speed in the well and he has not noticed any septic defects (this has been only used second home not on a rental so don't know the true capacity for both systems). I calculated the ROI based on 3 bedrooms in that area if I cannot rent it as a 3 bedroom this deal will not make sense for me. Anyone in the area who have experienced similar problems please shed some insights on this specific situation.
Yes we ran out of water in July and had to have water trucked in twice. Luckily 2 trucks of water is less than we charge for one night's stay so it was a no Brainerd to get the water delivered.
We also have almost 10k gallons of water storage under the house. I installed a wifi tank level sensor so I can tell if the storage starts getting low due to the well slowing down.
Thank you for your reply , did you install the water tank or it came with the house . If you did install it how much did it cost?
Post: Urgent - Gatlinburg - Sevierville- Well water and septic capacity questions
- Posts 12
- Votes 0
I am currently under contract on a 1-bedroom septic, 3 full bath, (has 3 full bedrooms with loft space) cabin near Gatlinburg. Priced at 740 K. plus needs 30-40 K to set it up and running as a STR. Talking to some local contractors they told me there were 700 plus cabins in that area last year ran out of water and had to spend extra on water to refill their wells. Also cautions me on renting this cabin as a 3-bedroom 3 bath as I may not have the water capacity and may overload the septic leaching field. I have asked my home inspector to check the water flow speed in the well and he has not noticed any septic defects (this has been only used second home not on a rental so don't know the true capacity for both systems). I calculated the ROI based on 3 bedrooms in that area if I cannot rent it as a 3 bedroom this deal will not make sense for me. Anyone in the area who have experienced similar problems please shed some insights on this specific situation.
Quote from @Swetha Gunasekar:
Hi Hanish. I am on the same boat. Looking to start investing, make connections and start my journey into REIs. Will you be interested to connect?
Sure lets connect
Quote from @Janice Wong:
Quote from @Hanish Sampath kumar:
I am working in the US currently on H1b visa. Looking to buy investment real estate . looking to connect with people in similar situation on how to structure the investments so I do not violate any visa rules.
Did you setup a LLC? do you have property managers or you self manage ?
I am working in the US currently on H1b visa. Looking to buy investment real estate . looking to connect with people in similar situation on how to structure the investments so I do not violate any visa rules.
Post: Looking for a good home inspection company
- Posts 12
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Buying a new construction town house with a DR Horton in Lebanon, TN. Thinking of getting the house professionally inspected( or let me know if it is over kill) . Any recommendations for a good inspection companies near the area ? Thank you for your time.