All Forum Posts by: Kavin Kuykendall

@George W. Interesting. thank you for the info! The soil here (Panama City Fl) is generally considered to have a high perc rate, although I don't know about that lot specifically of course. I'll reach out to the health department and see what they can tell me.

@John Teachout Thank you! I'll reach out to them. Assuming it is the original 1957 system, is there anything I should be concerned about needing to be replaced?

@Mark H. Porter Good to hear! Thank you!

Hey BP,

We are looking at house hacking a large triplex in Panama City Fl that is currently on septic. Here are the details:

~4600SqFt

7 bed/ 6 bath

Built in 1957

The tank is raised and requires a lift station which was just replaced according to the listing agent.

My understanding is this was originally a massive house that was converted into 3 units. We are getting ready to make an offer but want to be sure we dot the i's and cross the t's before jumping into a headache. What specifically should I ask, do, check, verify, or have inspected before pulling the trigger? We plan on having an inspection done on the house and tank during our DD period.

Even at 3 units, there are additional units to be added if desired via a 3 car garage, extra rooms, etc. How would I verify how much this system can handle?

Thanks in advance!

Hey BP,

My wife and I went and toured an occupied triplex today. I am curious about what level of dialogue is appropriate with the current tenants before purchase? Some questions I had for the tenants as we viewed their units:

"How have you liked living here?"

"Are there any outstanding issues you wish to see resolved?"

"What would you like to see handled differently by your landlord?"

"Do you plan to renew your lease?"

Is this level of questioning appropriate from me, the potential buyer, when first touring but before under contract on a potential acquisition?

Thank you all for the value you bring me every day!

@Nicholas Zaharevich I was beaten to the punch by another buyer. Currently focusing my efforts on picking up a BRRRR project in the Walla Walla area.

@Nicholas Zaharevich Dm me

Looking forward to it. Thanks for leading the charge!

@Samuel Chua

As stated above, it depends what your goals are. But in my opinion the payoff is huge simply by splitting your monthly payment into two bi-weekly payments. Here’s some math:

Loan Amount: $250,000

Interest rate: 5.0%

Term: 30 years

If a homeowner in the above scenario made bi-weekly payments of $671.46 ($1454.82/month) the difference comes out to:

Paying off the loan in 25 Yrs 3 Mts (4 Yrs 9Mts faster)

A total monthly payment of $1,454.82 rather than $1,342.05 ($112.77 more per month)

$189,453.43 in interest paid rather than $233,139.46 (a savings of $43,686.43)

That’s a savings of $43,686.43 and almost 5 years of your life for an additional $112.77 a month.

Again it depends on your goals. If you need the cash now more than later, don’t worry about it. That’s the purpose of a loan. But if you’re into the long term, loan pay down/interest savings. It’s definitely a viable option.