All Forum Posts by: Norbin Cruz

Question for the experts. I recently closed on a deal which carried a huge water bill because there was a leak from a pipe burst that happened during the winter. I had the cost of the bill adjusted from the purchase price so it is not that I am losing money here. However, after demo, we discovered that breakage occurred before the meter. See photo attached.

The logic is how was the town able to measure the water if the breakpoint was before the meter. I tried working things out with the town's clerk but all I am being told is that it was read and I need to pay for it.  

Hi guys I am similar project. Doing a rehab upstate New York were there is no utility line for natural gas. I thought of the following.

* Spray-foam attic space for cut down on heat lost; 35% of heat is lost through attic.
* Install electric heat in 900 sqf 2 bedroom home.
* Install supplemental Woodstove in living room.
       a)Alternative idea - forget about the woodstove and install a heat pump ductless unit instead. 

Idea behind replacing the oil furnace is avoid having the copper lines risking freezing during very cold winters, not having to worry about oil delivery and possible spills and overall it simplifies maintenance of the unit and make it more appealing with central cooling and heating. Your thoughts? 

 I could. Thought it would easy future maintenance since I won't have a furnance to deal with. Also the basement space is not large. Thought removing the furnace and oil tank would help. 

Are electric heat not as desirable to renters?

It is a one-family home that I will be renting but tenants would have to cover all utilities.

The house is in Upstate New York so we gave her a harsh Winters .

Hope everyone is having an awesome Friday! I'm posting this questions for ideas - constructive criticism is welcome! 

Looking at a deal at the moment for buy-hold, the house has heat oil and it may take about 8-10k to covert the home to Natural gas. What are your thoughts on removing the furnace all together and switching to baseboard heaters instead? Home has a 100 amp panel and looks like it was updated at some point however I found trace of old cloth wiring used in one of the bedrooms.  Thinking that I'm to have electrical work to do anyways I could perhaps convert the entire thing to electric? Thoughts? Pros\Cons?

Like usual, BP never fails! I met Robyn Thompson last night at a Local REI meeting in my area. Also signed up for a 1-day course with her for this coming Saturday. As some of have already mentioned, she is a straight shooter and doesn't fall off track. As a speaker, I thought she was great. I'll leave my feedback on her Sunday, but I already have a good impression of her.

Thank you Michael and Kevin for the feedback and pardon the late response. Alerts were getting stuck in my junk folder. I think I have a better understanding on private lending now - in fact Brandon covered this a bit on the webcast.  I'm meeting with the lender this weekend to discuss loan agreement and we are already on the hunt for our first BURRR! 

Hi fellas,

I have an investor (family member) willing to jump in a venture with me. I'm at the stage of talking to the bank in the next coming weeks for a pre-approval. Ideally, think I posted this here, I would like a single family or duplex to buy and hold. The investor just want to give a financial help for me to accomplish my goal but does expect earnings in return. This is were I am stuck (new in the game) how can I make a fair deal for someone that doesn't want to be a property owner or managing the property (guess this is a good thing as I will have full ownership) but wants to make cash for their investment.   

If it helps, I'm thinking of purchasing something around the 150-200k and with a 20% down (half split).

Thanks all in advance and please ask to clarify if I am not making sense.

I am too interested in networking and learning about investing. I purchased my first home back in 2009, a fixer upper which has served us well - house hacking. I feel like I'm ready to tackle my next adventure. I think I know what I want but it is always helpful to check with other people to know what they are doing and how they are accomplishing their goals. I work out of White Plains, but would love to connect at a meet.