All Forum Posts by: Karl B.

Honestly, I don't think there's a requirement but of course, people tend to expect a range and fridge. 

Yet when I moved into a 3-bedroom in Culver City, CA we had to buy our own fridge because according to the landlord "Refrigerators are unsanitary." That's right - she didn't supply the fridge. 

Due to the fact the rent was more than fair and it was a nice area, we didn't have a problem buying a fridge. So I don't believe there's a requirement in some areas. 

Personally, I prefer apartment-style as they tend to have better cashflow and there's only one roof to repair, etc. 

Of course, if there's a HOA that and other things factor in as there would likely be additional expenses. And of course typical things like neighborhood, schools, crime, ease of filling a vacancy, etc.

But looking at the two properties, the duplex with the house brings in $2100 monthly while I bet the 4-unit brings in more income per month. You know the monthly rents in Phoenix better than me, but what's the 4-unit generate per month? Likely $2800+? (I totally rentometered). 

I had a leak in my 4-unit - a tenant's tub faucet was leaking. My plumber alerted me when he noticed my water meter spinning (he was there to install a backflow preventer). 

My plumber showed me how to activate the water meter (the meter was activated using a flashlight) and I decided to redo that tenant's bathroom (it needed a new tub surround, fixtures and I also repaired and replaced the floor). 

According to my plumber, when the water meter is spinning, it's usually a toilet issue - but in this case it was the leaky faucet (yet another reason to do mandatory inspections). 

Definitely have it checked out PRIOR TO CLOSING. On one multi-family I purchased the seller was supposed to have had the windows puttied/sealed and sash cords repaired (amongst other things).

After the closing I discover most work had been done but the window work hadn't. 

The seller wasn't to blame - he lived out of state and his incompetent property manager didn't seem to care. 

When I griped about it to my RE lawyer he stated there was likely nothing I could do as the closing had already happened. 

Lesson learned. 

Now I ALWAYS make certain I gain access prior to closing so I can make certain any and all agreed upon repairs have been completed. When it comes to agreed upon repairs and having them completed, it's much easier to put the heat on the seller prior to closing and demand the repairs happen (or for a credit to be made), when money hasn't yet exchanged hands.

If your city has a Habitat For Humanity Restore, go there! It's so awesome! A friend recommended them to me. 

I bought a few doors for $11.95 (instead of buying the same-sized door for $80 with frame at Lowe's - plus this vintage door isn't going to break if some angry tenant punches it).

I also buy vintage glass light shades there - they look freaking amazing in a rental - often better than the newer ones available at Lowe's. 

Of course, they also sell things I would never buy (used toilets, for example), but they are definitely worth checking out! And if you want vintage light fixtures, definitely check them out. They have some amazing ones!

If you want to circumvent the agent, go to city hall where the property tax office is and ask for the owner's name. They'll give it to you, but likely won't include the contact information. But you can likely locate that (or their social media profile) online.

Hi, I have used American Windows. It looks like they have a place near you. 

American Windows & Siding of Virginia

• 5609 Sandy Lewis Dr
  Unit-D
  Fairfax, VA 22032

Hopefully they'll give you a lower quote than you've received. BP isn't letting me post their phone number.

When a house is no longer on the market it's a beautiful thing... because you have zero competition. I've done it before and I'll do it again!

Make them an offer based on your calculations. It's easy to get the owner's name (go to city hall) and with their name you will likely find their contact information/a social media page online. 

I did this when I bought my first multi-family and after speaking with the seller on the telephone we negotiated and agreed on a price (when you do this illustrate the money they save by not having to pay any RA agents). 

And don't fret if you can't agree on a price. My latest purchase (which was actively on the MLS)... I low-balled and they gave an adamant NO (according to the selling agent).

I called the selling agent over a month later and said my offer still stands... he spoke with the seller and I received another NO.

I told the selling agent to call if they wanted to sell at my price.

Well, I got a call a month later from the selling agent stating they'd sell to me at the price I had offered.

I later learned from the upstairs tenant that around that time (of getting the phone call of them agreeing to sell to me) there was a roof leak that caused water to gush into the top floor closet. This repair very well could have caused the seller to become disgusted and sell. 

Offer what makes sense for you. Sometimes you have to wait. And sometimes when you wait, you get a very good deal. 

I'll have to agree with @Thomas S.

Personally, I wouldn't pay $85,000 for a property that only generates $1,000 a month in rent unless there was potential for passive appreciation on the property. There's nothing wrong with buying far away properties but there are better deals out there where the numbers are better. 

@Chanitnan K. No problem. Thank you for thanking me. :-)

Some of the plumbing had been updated - the seller paid for that. The big problem (according to my plumber whom I recommended to the seller and performed the repairs) is the cast iron drains, which rust and then cause leaks. I didn't actively replace them but of the plumbing repairs that were made prior to sale...  there was a leak in a pipe underneath one toilet and that plumbing (and floor) was repaired, the main stack pipe in the basement was replaced and some minor unrelated repairs were made (one sink was missing a pipe - seriously, some drain clogs, etc).

In the duplex I bought on July 31st there was a plumbing issue prior to me buying it (2nd floor bathroom pipes). They had to bust a hole in the ceiling to get to the pipes. And so when I bought the place the piping was showing in the 1st floor closet due to the hole. I had my handyman install a removable ceiling in the event we need to access those pipes again. 

Prior to sale you can always have a plumber meet with you to check out the property you may want to buy and give you recommendations are far as potential issues. If you've worked with a plumber a few times he shouldn't charge you for this.