All Forum Posts by: Michael Plante
Michael Plante has started 69 posts and replied 2369 times.
Post: Adirondack chairs for cabin
- Deland, FL
- Posts 2,434
- Votes 1,875
Originally posted by @Jason Stoltzfus:
We're revamping our firepit and I'm looking for recommendations on purchasing Adirondack chairs.
There are so, so many options on Amazon, it's a little overwhelming.
Has anyone purchased chairs that they leave out all season and have held up well over the years?
Polywood seems like the higher end, built to last option. I'm guessing that would be a safe bet. But I'm also wondering if there's a more affordable option with comparable quality.
I’m a huge AMZ buyer for rentals and flips but for outdoor chairs it has been hit or miss Look at the Adirondack chairs on there None of them have more than a few hundred reviews
Which is low for such a common item. Should be in the thousands for a good quality long term item
My guess is many are paid for reviews then the negative reviews come in after a few months to a year of use. The seller deletes that ad and creates a new one
I would look around for a local place to your house and get what people in there recommend
probably the heavy duty resin look ones
Post: Tenant’s refrigerator broke.
- Deland, FL
- Posts 2,434
- Votes 1,875
Small fridge isn’t going to take care of keeping frozen meat etc from going bad
I would say WOW so sorry to hear that
Any chance you know someone who has a used one for sale?
If so I would be happy to pay for it
Good chance they will find a used one. Get it onto the apt and the old one moved out within a couple days for $500
They are happy and you don’t have to mess around with coordinating a repair persons visit, delivery disposal etc
I find giving tenants a chance to have control over things make them happier and less work for me.
Truly win win
If they say NO. Then I would say ok I’ll get you a replacement ASAP
Call the local used appliance store. Pay over the phone ask them to deliver ASAP
Post: How can I spend my off days working in real estate?
- Deland, FL
- Posts 2,434
- Votes 1,875
To me your schedule lends itself to doing a flip
Post: As an investor/contractor am I wrong for not sharing my subs
- Deland, FL
- Posts 2,434
- Votes 1,875
I keep my sub busy full time. Even if I have to find work for them on my own house
This means I don’t have to be concerned about being asked
Post: You will have to do ugly things to get ahead in real estate
- Deland, FL
- Posts 2,434
- Votes 1,875
It’s easy for me
I use the identical $5 shower head in my rentals as well as my flips as I do in my own house I use the same flooring as I do in my own house what is the same paint etc. etc. etc. buy two of my old house
Post: Question on a dishwasher in a flip
- Deland, FL
- Posts 2,434
- Votes 1,875
130k listing price I would leave it as it is
Post: You will have to do ugly things to get ahead in real estate
- Deland, FL
- Posts 2,434
- Votes 1,875
Originally posted by @Mark Cruse:
@Jim K. It just seems like you have some unattended to deep seated issues that are eating away at you. Most of the stuff you are alluding to I have NEVER heard any of my landlord associates talk about. It will be changing soon but I have all class D units and none of that applies in my mind. I started out there because I can handle risk, and the higher the risk the higher the reward. It was a good training ground to equip me for anything. Iḿ nice and fair by nature but like someone said earlier, I take the middle of the road approach. This is my business and the goal in any business or any job is to make a living for you and your family. I have a place for them to live and they need a place to live. In fact, I feel great about it because in so many cases no one gives a damn about them, will exploit them and never give them any kind of chance I would. If they could do better and go somewhere else, most would. They cant. With me they get a fair landlord that treats them decent and a decent place to live in. In terms of wishing little kids were white, some can interpret that as racist. I know its a common mindset and this is America with its current political climate, but itś not that Black and White. No pun intended. That ideology is what leads to redlining and bigoted business models. If this is something you ponder often, you probably subconsciously treat them different and should not invest in minority communities. I have had several tenants from several demographics. Most have been low income whites and behavior has more to do with class levels as opposed to their pigment. Yes, I get the over all notion. Yes, in general a white area is perceived as more valuable but its so many things that go into it. Pouring white paint on the face of those kids wont do it. Come to the Curtis Bay/Brooklyn area of Baltimore. Predominately low income whites with high crime and poverty. I have units there which do not appreciate and creates nothing but problems many would associate with other demographics. Buy some units there and tell me what color you would be wishing they are next. I guess you were posing the question to someone else but it came from somewhere. Either way, nothing you said so far is anything to feel guilty about over all. Treat people good, give them respect and treat them no different than the class B and A and its all good!
Perfect reply!
Post: What are the steps for a cash purchase?
- Deland, FL
- Posts 2,434
- Votes 1,875
Call local title company
Tell them you would like to close at their office. Do they have a purchase contract you can get via email
As well as an Atty to draw up a mortgage
Very straight forward and easy
Post: Security Deposit Rules
- Deland, FL
- Posts 2,434
- Votes 1,875
Different states have different rules
Do you need to pay your tenants interest if you put it in an interest bearing account?
Post: Help with the math please
- Deland, FL
- Posts 2,434
- Votes 1,875
I purchased 6 lots total cost $200,000 I have $50,000 cash into it A 30 year mortgage @ 4% balloon in 4 years
I can sell off the largest lot for $225,000 BUT I would carry a note with $45,000 down @ 5% interest amortized over 30 years. Balloon in 5 years. Closing costs for me would be $23,000 I would need to use that as well as $125,000 cash from me to pay off the current mortgage
I would then have 5 lots left to put houses on
so it looks like I would have $25,000 profit in the end plus the 5% and have 5 lots free and clear for free
I’ve never been great at figuring returns or what is the best way to do something so I’m looking for advice
If I could do a wraparound/land contract that seems much better as I wouldn’t have to come up with any cash and would make 1% interest on the $175,000
BUT I don’t think buyer will go for that