All Forum Posts by: Jason Smith

Thanks for all the great information! Quick update.... bank is having difficulty with the Title work so it hasn’t closed yet. We found out the person it was foreclosed on died 3 years ago. This could get interesting.

@Jerel Ehlert thank you for that information.  It appears the bank has owned the house for a little while but obviously didn't take action to remove the residences. Would that 30 days start on the day I close and give them notice or when the bank foreclosed?

@Jay Hinrichs.... help me with an opening line.  

“Knock knock”... Hi, I’m Jason______

@Jim Cummings another great idea about the U-haul. 

Any benefit to putting a letter in the mailbox and then stopping by at a designated time to avoid putting them on the spot? 

I like that idea. It would benefit us both. How much is appropriate? The only traffic I witnessed was a girl that’s probably 20ish. She had a sticker of our local junior college on her car. 

I’m in contract with Hudzu on a foreclosure. I’ve only seen the outside but someone is living there. It’s a 1700sqft 4/2 in a good spot and I’d like to turn it into a rental. I’m looking for suggestions and laws regarding how to best approach the people living there. I don’t know if they were the owners or renting from the owner. Thanks for the advice!

@Russell Holmes I think I’m going to let some of the warranties expire on the newer properties and take the risk. 

@Russell Holmes yes, the cost of each warranty is different from house to house. It seems age and square footage are some of the factors. 

Originally posted by @Jeremy Taggart:

@Jason Smith I'd say it depends on the age and condition of the property. Also the age of the mechanicals. If you are expecting a major repair anytime soon then it might be worth it. Also depends if you have the cash reserves to handle big repairs if they all come at once. Along with your own risk tolerance. 

 Yes, I'm trying to evaluate all that you said.  It seems one of my properties needs to retain the warranty because it's an older house with few updates. I have a few others that seem to just roll with minimal repair.  I'm planning to evaluate the age and condition of the mechanicals in all the properties.  Thanks for the reply!  

I have 5 single family homes and 1 duplex. I have home warranties on them all for a total of $3400 a year.  I used the warranty 10 different times last year at a deductible cost of $700.  I'm beginning to think this is getting expensive but I also like the piece of mind if something major happens.  I'd like to hear your thoughts and experiences in this area. Thank you.