All Forum Posts by: Mark Fedorov

My $0.02: Barns are to be red or natural wood color.

IF you are looking for SFH and small multi's:

https://www.biggerpockets.com/forums/517/topics/40...

-Mark

If you are looking for SFH and small places:

https://www.biggerpockets.com/forums/517/topics/40...

-Mark

If you are looking for SFH:

 https://www.biggerpockets.com/forums/517/topics/40...

-Mark

Yeah.. I am with @Steven Clark, get a few HVAC contractors to look at the issue and change the exhaust. Was this report from a home inspector or the city? Ask whomever did the inspection what should be done, Sounds like a power exhaust could be the answer.

Ask them if this is urgent... this might be "just a thing they noticed".. ie.. no big deal or could be something they said needs to be done yesterday *however if that is the case, the city should have cut a permit to install this 3-4 years ago, if they did not go back to the seller to get this corrected, if they did this illegally (without telling the city)

Stay in school. 

I have a Mech E Degree and it is invaluable in the RE business. Engineering degrees teach you how to learn new things and how to figure out processes. I can stand there with ANY contractor and know if he is BSing me, I also have enough training that I can dive into books and articles and see how things work.

I think the big question for you is that is your degree path not what you want or is RE the best option that you know about now? 

Just because you have a degree in Automotive engineering does not mean you will (or have to) get a job in that field. Many people who do automotive work have other degrees, many people with automotive degrees do other things. Now may be a good time to talk to you advisor and the career planning office. Have the conversation with them about your indecisiveness about your degree. If you are a freshman, you probably do not have a lot of electives yet to take courses in other fields, but you should try to fit them in, or ask if you can audit a class in Business, Real Estate, Accounting or different engineering fields,

Engineering is tough, I questioned my dedication to it many times over those 4 years, but it was a great 1st step to a career... and you have to realize that it is only your first step.

You don't say if she discussed financing, I think your deal would work, if she wanted to stay. If she wants to leave, I think you can still phase that as I'll mail you a check for $444 every month for 10 years... seller financing is not for all sellers, but if she is there or not, that is no difference to you, actualy, if she leaves, you might be able to rent it for more...

But to @Jeff Filali point... if you will make $150 per month, you should have a reserve for repairs. Seems like if you can net $150 from the top apartment after paying all the costs, and pull in $450ish per month for the bottom rent, and buy it for $50K, that is a 14% cap rate.. so it looks good.. unless something expensive breaks.

You need to compare the two... you should be able to look at that yellow sticker on the HWH to see the estimated cost per year... adjust that to your actual cost of gas and that is your answer.

...Actually you should ask the guy who wants to sell you the new one to do this...

If you don't mind putting more detail... HOW is is emitting CO? without seeing it the problem is either the burner ($200-400) or the tin chimney (~$100) or the lack of air getting to the unit (cheep) ... I can't wrap my head around what would cost $2000.

Lis pendens is that SOMETHING is holding it up and about to be recorded... until you know what that is you don't know how to get rid of it (that is why they suck).. it could be a mechanic's lien or a tax lien or a fraudulent quit claim deed... all have different ways of being removed.

The best way is to be able to prove it is fraudulent...

However you want.

I suggest you ask for a copy of the title insurance, and if he/she tell you they don;t have it, start negotiating them paying for some or all of it.