All Forum Posts by: Kyle Steinmetz

@Mike Franco I have been wondering the same thing lately. I used LVP in a rental about 4 years ago. It was from a flooring store and seemed like great quality. I just turned the property after 4 years and the flooring has a couple pieces where the top layer has started to peel up. The floor has not separated any just the peeling. I tried glueing it back down but not sure how well that worked. Eventually it will need to be replaced. What is a tenant proof flooring option? I’m always afraid someone will drop something on tile and break one.

@Neil Polehn- not sure if your are old enough to start drawling from your 401k but if not....there was a Corona Virus relief package that will allow you to early withdrawal up to $100k without paying the normal 10% penalty. This program also allows you to spread out your income tax over 3 years on the withdrawal money as well. Not sure if this is exactly what you were asking but it is good info.

@Brian Morris have your tried a pressure washer? Most likely you are not going to be able to stain a deck that has been painted. You will have a hard time getting 100% of the paint off. If you choose to lay new deck boards, there is currently a shortage of treated lumber and you might have a hard time finding what you need. You should let new deck boards dry out for 6 months before staining in my opinion. Good Luck on your project.

I have the opportunity to buy an existing single family home in town with 4 acres. In the future I would like to develop the land with duplexes if it would make sense. The purchase price is a little high $230k. I think the rent from the current house would cover the majority of the mortgage/ tax/ insurance payment each month leaving me to come up with roughly $150-$250 per month to cover the rest. It might be years before I am able to develop the rest of the property and the current situation is not going to cash flow itself.

My concern is about building cost in the future as well. Will a new construction property cash flow? The sewer and water are running all the way through the edge of the property so that shouldn’t be a problem.

Any advise?

@John Fider stick with the gas furnace/ ac set up. It is cheaper system from my experience and I seem to have less problems out of the gas furnaces.

I need to install a new electric heat pump in my Indiana Rental. Old system is 21 years old and has failed. I typically use a local American Standard mid size company that is quoting me $7k. I have seen side line guys advertise on Facebook and know one personally that can install off brand systems around $4-5k. My concern is if the side line guys really know what they are doing and are these off brand hvac systems good quality. Any one have any advise on this topic?

@Jonathan Greene thanks for the info. So let the my agent submit my bid for me, correct?

I went to an open house today that was down the road from a foreclosure property that I wanted to get a street view of. I asked the realtor at the open house if she would be interested in showing me the foreclosure down the road after her open house.... She met me down there and informed me the house was listed on hubzu which I have no experience with. Some questions I have:

-Did I need a realtor to look at this place as it looks to me like I need to submit my own offer online.

-The listing has a 5% buyers premium but doesn’t say anything about a realtor commission.

-The listing also requires a 3% earnest money which seems high to me.

Does anyone have any experience with Hubzu that can explain how this works or what I need to watch out for.

Thanks for any info

Kyle

@Justin Polston I’m sorry it was Ike and jonesys I was thinking of. Sorry for the confusion!

@Justin Polston Harry and izzys closed at the end of the year!