All Forum Posts by: Ed O.

I had some of those crap ones at one point too. What a big false sense of security eh? The same holds true with the higher (not upper) end aluminum ones. I bought a home that had them, and had to remove them completly to clean them, because they were loaded.
Gutter helmet and simlar firms, from what I've been told, run $20-$30 per foot. Ridiculous.
The one thing left worth trying for me is the foam inserts. They make a foam insert that you put into the gutter. The idea is that the rain will go through the foam and wash down the gutter... while keeping debris and other stuff out...
Let me know if you stumble upon something worthwhile.

Jackie: Which company have you had such great success with? They sound pretty good.

Jim: Sounds like you need to try and find money everywhere but the bank. You might ask them where you need to be financially in order to qualify for a loan. That might at least give you some direction from them.

If you're scooping up deals with that much equity, I agree with Jon 100% that you should be flipping the homes and watching the money pile up. I missed out on a ton of $$ years ago for not changing course, in order to cash in.. Learned the hard way... consider other exit strategies, given your situation...

As your lease states, "Thelease agreement states that the Tenant pays the 1st $100 of all repairs" seems pretty cut and dried to me.

The tenant may disagree. Is it worth spending $100 to keep them happy? For my operation, it's a bargain. That's up to you.

I always try and get the materials myself. I'd bet 99% of the time I get a better deal by using 10% off coupons or going through the bid room, etc. When using a contractor, he doesn't have as much incentive, imo, to do that.

Also, I would get other bids on most jobs. When people get too friendly, there's an incentive for the contractor to charge more. That's exactly how it works in the financing arena. It keeps the contractor competitive.

It makes sense to work with more than one of them as well. It's been my experience that I have gone through 3-5 plumbers in a year. They just disappear. Sometimes they can't get to the job quick enough too. Talking with other contractors keeps this as a possibility.

Greetings! I wish I found this place 8 years ago! Tons of knowledgeable people and information flowing freely!

Anyways:
I'm looking to acquire some sfrs for rentals and possibly lease-options. I'm curious to find the best way to approach sellers when the only way I'll be able to acquire the property is via Sub-to or owner financing.
At this point, there's no way I'll have cash or will be able to qualify conventionally (too many properties for fannie / freddie limit).
What's the best way to go into the conversation, especially without putting the seller off by bringing up the subject?
thanks for any advice and insights!

If your buyer will have fha or conventional financing, you will have added challenges in getting the deal done.
Additionally, depending on the lender, if the loan is in existence for less than 2-3 months, the mortgage broker will have their commission recalled.
It's unlikely that the loan servicer would prevent you from borrowing from them again.

Here's my .02...
If he demands full price, your parents should be able to buy him out for 94% of full price... as in 800k-realtors commission, which would save them 48k. If it was listed and sold, the expense would be incurred regardless. I hope he's not that big of a jerk or fool...