All Forum Posts by: Koki Agata

@Alex Olson

Makes sense!! That is an important thing to note.

Thanks for your help!

@Alex Olson

Makes sense!!

Thanks for your help!

@Basit Siddiqi

Yes I've heard about the Kansas City tax. Good news is, I just purchased a property in a near by city outside Kansas City, so might be able to avoid that tax!

Anyhow, thanks a lot for your advice!

Hello Fellow BPers!

So my wife and I just purchased our first property (woo) and started rehabbing the kitchen.

It has wallpaper all over, so we are trying to take them off. However, since the house is built in 1947, and in the sellers disclosure, the sellers weren't sure if the paint contained lead, we are assuming it does. Which means when taking off the wallpaper, we are likely to encounter lead paint.

While we were scraping the wallpaper off, we started to wonder about the lead paint underneath...

How strictly do you follow the guidelines for lead paint when removing wallpaper? We are thinking about buying respirators, but would it be enough? We don't have any children.

Let me know what you think or do!

Thanks!

@Basit Siddiqi Thanks for your input! That does make sense... But should I not hire someone who is most familiar with local state tax laws etc?

Hello fellow BPers,

I am currently looking for a tax accountant to do my tax return for this year (and potentially for the next year and on).

I don't have a property yet for 2019 tax return, but I am in kind of a complicated situation, and I'd like to connect with anyone who has experience filing tax returns for immigrants preferably. 

If anyone knows of anyone that you can refer me to, that'd be wonderful :)

Thanks in advance and stay well.

Cheers.

@Mike McCarthy Awesome! Thanks a lot for the link.

Hey dear BP friends,

I have a question regarding epoxying basement wall.

A property I am looking into right now has been inspected by an engineer since there was a concern on the foundation.

The report came back saying there were some settling (due to dry weather), which cracked the basement wall. The engineer recommended that no repair is needed at this point yet, and s/he recommends epoxying the cracks, which they said would be enough. According to the seller's disclosure, there is no water leakage.

I don't know the size of the cracks, but I am supposed to tour the property this Friday.

With that said, how much does epoxy usually cost? I know it depends on the number of and the size of the cracks, but since it is unknown yet, any wild guestimate will be great!

I am also looking into epoxying myself, so any recommended products info would also be great if you have any!

Thanks for your help!

@John Underwood Thanks for letting me know!

@Ben Cochran That's awesome you have a duplex! I myself also am looking for a duplex along with SFR right now. Does $2600 mortgage payment include other expenses as well? Such as repair, CapEx, Maintenance, Management etc? I usually hear people putting around 5% for everything except Management, which depends on the area and the company you use (will use in the future) but around 10%, so total of around 25% of your rents $3200, which is around $800 should be kept outside of your cash flow? These are just rough numbers so please don't rely on this, but you get the gist. But it looks like you might be negatively cash flowing with 15 year mortgage! Correct me if I am wrong :)

With that said, I also think going 30 years amortization sounds better!:)

Cheers