All Forum Posts by: Greg H.

Finding the source of the moisture and fixing along with creating airflow to the closets will almost certainly solve the problem.  In Florida most closets have louvers in the door to add airflow

Quote from @Alan Asriants:

Quote from @Marcus Auerbach:

@Richard Helppie-Schmieder , you are one of the top 1% outliers. It's not even so much what you do, it's the amount of initiative and energy you bring to the table. This is a trait that I see with successful investors: they are trying 100 different things and immediately double down on the things that work for them. This is such a stark difference to the many posts you read here from a person who is trying to flip one house and asking for advice on BP on why is my cost so high etc..

As an agent, I can tell you there is a magic ingredient and that is amazing design. 

Every time I see a home that stands out from the average, we see offers going well above ARV. I am not talking about white cabinets and grey walls, that's not amazing design, that's is really just average (and on the way out BTW). I think this is true across most price ranges, but the effect is the strongest in the middle and upper price range. At least that's what I see here in Milwaukee.

Exceptional design is hard to find, but not very expensive to install. Shadowboxes are a classic example of low cost - high impact. Playing around with lighting is also huge. Hidden light edges work well with modern or more rustic approaches.  

The cool thing is AI can now do the design work for you.  

 Agreed here! Lots of investors lack taste when putting things out on the market. As the market regulates a bit, cookie cutter rehabs are going to perform worse and worse. This is why even during peak market, a home that was slowly done by a homeowner would sell for more than an investor who flipped it and put in everything brand spanking new. That is because the homeowner had taste, where as the investor did not. Lots of new construction will suffer because of this. Installing very cold colors, not mixing in any other natural palettes , and putting in very basic hardware, fixtures, and lighting. 

Simply slapping in recessed lighting everywhere wont make your property stand out, it will just make it feel like a commercial space. 

I recently toured a property that had an excellent mid century vibe and by no means was it updated! But the reason people loved it and went crazy over the asking price was because it had taste. Even though the carpet was green and the kitchen was old, all of it came together. 

Here is the listing for reference:

https://www.zillow.com/homedetails/707-S-Pine-St-Langhorne-P...

 A homeowner does renovation for their comfort or to suit their taste to which that may be good or bad.  

An investor is looking to maximize their investment by adding upgrades that will appeal to the masses.  My goal is to provide a product for which a buyer likes and has the ability to be purchased with the lowest down payment financing product available.  Most of the properties I purchase are in poor condition and therefore cannot be financed.  Never considered whether my taste is good or bad yet it is profitable

Aside from telling her to sell, there is no other guidance to provide based on your limited information 

In Texas where evictions and a few other states where evictions are easy, I would not even consider it.  I can get someone out in 21 days or so.  We live in an era where people do not hesitate to use violence even when they are in the wrong.  I would not want the liability if that kind of situation goes south

We all need to keep the pressure on our legislators to enact an anti-squatting law

Need more information here. Single family? I can only think of a few scenarios where HUD would own a mortgage and some of those would not be good for you.

I would open title Monday as Jay said as tgis is an easy and inexpensive way to get some answers

If this is something you want to pursue I highly suggest doing some of the work early on.  Today I do not participate but at the beginning I did a bunch without much actual knowledge.  Fast forward 30 years, when a contractor comes to me with an issue at least we can have an intelligent conversation because I was in the trenches and I can help solve problems.  Problem solving is one of the most if not the most important qualities in this business

I have done several over the years that fall into 2 distinct categories:

-On own land with permanent foundation that have never been moved therefore eligible to be sold via FHA financing.

-Cheap MH on land that can be resold quickly for cash 

Almost all have been in rural areas of Texas or Louisiana 

Quote from @Adam Bartomeo:

In the past we would follow @Greg H. but in todays market we would not. Today, we hold the tenants 100% accountable for their mistakes. No one forced her to sign the lease, she did it of her own free accord. In our lease we have a lease break fee that states that the tenant can cancel at any time with our without notice for a fee of double rent. We would not allow the tenant out of the lease without some sort of penalty.

My answer was based on Texas law and my 30+ years of experience in Texas.  If a dispute arose, the case would be heard at the JP level by a judge who is elected and is part of the community.  In this case you would lose every time as like I said there are no damages at this moment.  My guide is to do what I would be prepared to defend in court

Have you tried NREIG as they are a nationwide company?  I have all my properties with them except those in Louisiana where they do not do business

In this case you have plenty of time to secure a replacement by July 1st.  I would secure in writing the desire to terminate and put the property back on the market.  Once I secured a new tenant I would refund the deposit and there are no damages to you at this point