All Forum Posts by: Steve Candor

@Nathan Emmert haha. yeah. They were telling me my 100k property in a warzone would cost almost 600k to rebuild? Are you kidding me? 

@Account Closed i wish. I can't afford NYC properties. 

@Ryan Dossey property in Western Massachusetts

I do not have car, rental, or home owner insurance. I rent a property in another state. I'm trying to get landlord insurance and I can't find anyone that will insure my property. 

Anyone else run into this problem? 

So once I purchase the property (or prior?) what do I do to get the tenants to start paying me the rent instead of the older landlord? Do I draw new leases up with each one (they are already on leases) or just tell them the new address to mail it? 

What about inheriting section 8 tenants? Does it take a while to have them start writing me checks? reinspection?

@Curt Davis awesome! I didn't even know to look at certain things and what areas of the house to really focus on (big ticket items). So, I did what you recommended I had a contractor come out with me to several places. Each house was different and we went over costs to fix and replace and what needed permits to get the work done. He went over estimates if I wanted low-end tenants (things I could keep in a fixer upper) to doing things in the place to get really good tenants. 

@Will Johnston  structure issues, wiring, and water pressure. I'll have an electrician come by and check it out too. I didn't think to check water pressure. Interesting... what do you do? Just run the showers and make sure that it's strong? Have you seen a place with weak water pressure? What did you end up doing? 

@Ann Bellamy thanks ann. It's in springfield and the tenants have baseboard electric heat. 

I'm in the works to see if we convert it to a legal 3. I think we are ok since it's zoned in a 3 family. But I need to talk to my lawyer to make sure.

@Justin Escajeda I met the one group of tenants and they seem great. The two floors are 100 percent program. 

Top floor is an illegal room house. I can either drop the number of tenants or try to convert. 

I really like the cash flow here. Not too worried of the war zone. But I'm concerned because top floor isn't on program. Not sure if I want to be knocking on their door asking for rent. Who knows who is there. 

I will be getting the tenants with the house. New leases.

@Jay Hinrichs  The property is two states away. Not driveable. I'll have some people on the ground who work in the area. I have a super and might get management.

2 Family illegally being used as a 3 family.

1000/month

1200/month

1000/month

$105,000

I pay electric heat on 2nd and 3rd unit. The 1000 3rd unit is illegal.

Working on it now but I can probably get 600/month for it if I make it legal.  About $5000 in work to make it awesome. Very well taken care of building in a War Zone.