All Forum Posts by: Paul Hitchings

I would check with an attorney first on your legal requirement. It might be a gray area and even if you are legally required to, it would be require considerable legal action on behalf of the tenant to force you to comply with ADA (I'm not an attorney).

Another question, is your unit attractive to other tenants with disabilities? Would a senior live in your complex? What about someone in a wheelchair?

Also, are there other modifications besides the shower that tenant might ask for in the future beyond the shower? Are there stairs that she isn't a fan of? Large thresholds she has to regularly step over?

Maybe it would be best to meet with her, and ask her about all the things that make it difficult for her to live there. Document the meeting and put a summary in writing to send to the tenants.

If you are legally required, than the answer is simple.

If you are not legally required, you could offer to make the repairs after they renew and/or sign a new lease for a market rate. Tenants can get upset that you are dangling repairs over their head for more rent, but they can not take legal action just because you want to raise the rents (so long as there aren't laws about rent increase limits...)

If it was another type of improvement, like double pane windows, that is attractive to all tenants, the answer I think is easier. But since the tenant wants you to make improvements that perhaps make the unit geared towards a specific type of tenant, it isn't necessarily the best business move, although the fact that they are good tenants might outweigh this.

0 Votes

Originally posted by @Janette Nason:

If you have extra cash and want to do a good deed for a family which may need some help, that's wonderful.
As far as a business move.... it's not a good one. You will be spending money on an apartment which is already rented and in addition as your mentioned... the unit would have an overall higher value if you kept the tub.
I only renovate an apartment when someone moves out and I can charge more money with renovations on the future tenant.
I'm curious where in the country are your investments? Also what's the square footage of this apartment?
Good luck with your decision. It's great that you also own a construction company as well. You sound very accomplished.

Why is the unit worth more for rent with a tub vs. a walk-in shower?

1 Vote

Originally posted by @Jonathan Steele:

Hello Everyone,

My name is Jonathan Steele. I live in Baton Rouge, LA and have been reading and researching real estate investing for a few months now. I still feel as though I don't know much, and would like some help.

I am a high school teacher and baseball coach, so come this summer I am looking to really dig in and launch my Real Estate Investing business. I know I want to start with wholesaling first. Is there any advice that y'all would like to give as I start out? Things to watch out for? Tips or tricks that I can utilize? Anything will help!

Yes I have been reading the forums and yes I have been reading the beginners guide here on Bigger Pockets. I just want to see if there is anything else that I could glean off of the Investors in this site.

Thank you everyone for your input and comments!

I would not necessarily recommend wholesale as best way for a new investor to break into the game. Yes there is profit potential, but likely all of your properties will be out of the area. Have you considered a house hack? IMHO, better to learn the game with a local property and then try the arms-length homes. Also, considering you are new, better to start with one property than a portfolio of properties.

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Originally posted by @Jonathan Steele:

Hello Everyone,

Thank you everyone for your input and comments!

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Originally posted by @James Myrthil:

Hey folks. I'm an investor from Brooklyn New York and I have yet to learn wholesaling properties. I've read a lot of blogs about the subject however, it still doesn't explain the details to the process. Most blogs are vague and never fully explain the entire process. Anyone wanna exchange knowledge for knowledge ?

First you have to spend a few months/years chasing your tail with people who say they have inventory, but only have lists. Then you need to find real supply. Then you need to learn that all the wholesalers keep/sell all the better inventory early and only the "scraps" are left. Then you have to buy a home that needs to be demolished or is burnt out because your pictures are old. Then you need to buy something with a tax lien that title didn't pick up for some reason? Then get a property with squatters in a state with squatter friendly laws. Then figure out what you are actually going to do with 10 properties in Jacksonville FL for $10K each with no windows and each needing $5K - $15K in rehab before a tenant can move in. Once you have done all of the aforementioned, then you can get started wholesaling :)

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Originally posted by @Account Closed:

I have a contract to buy a house. 3/1 in an up and coming area in Texas. The seller agreed to sell @ 40 k. 0 down and no intrest and my first payment in 3 months. $333.33 for ten years. The house is supose to be vacant, but when I drove by it in the night there are folks living there. I didn't stop I just keep driving. I think it's his brother in law's girl friend and her kids. His brother in law lived there before he was sent to the big house for a few months stay. The brother in law never signed a lease or made a payment to my sellers like he promised is my understanding. I could make this thing cash flow from day one if I could have it vacant. I never dealt with squatters before. This is not the last house in the world, but it is a great deal.( great price&great terms)

Anyone ever dealt with something like this?

I know there will come a time in my future when I have to deal with this. I can't wait!

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Originally posted by @Kevin Fontleroy:

update from first driving for dollars deal...short answer it's not a deal at all lol

Turns out the lady bought the place at a tax auction and everything that could go bad did go bad. Here is the list

1. County didn't property notify previous owners of tax sale

2. I would need to find previous owners and ask them to be a part of the transaction

3. Tax sale didn't wipe out the mortgage, money could still be owed

4. Mortgage company is went out of business (big surprise right)

5. Title company basically told me to find another title company to see if they can get different info

Yeah so this ended up not being a deal at all but what an amazing experience. I do feel bad for the seller, this is probably why she hasn't been able to move it

That #4 item sounds like a doozie! Bureaucrats love it when things don't exist anymore!

2 Votes

Originally posted by @Bill S.:

@Adrian Tilley congrats on your first deal. IMO if it will qualify for a loan don't do anything but clean it really good and get rid of any stink. Right now it doesn't seem that money spent on rehab in that price point is rewarded. If you want to feel good about "flip" then paint, carpet and appliances are the absolute max I would ever do. If it needs more then sell as-is on the MLS and let the flippers and owner occupants hash it out.

We had a "carpet, paint" client once. Made about $150K on a short-sale 'flip'. $50K in sewer lateral negotiated to a $5000 seller allowance. Those were the days. I put a sump pump under that house!

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Originally posted by @Bill S.:

We had a "carpet, paint" client once. Made about $150K on a deal. $50K in sewer lateral negotiated to a $5000 allowance. Those were the days. I put a sump pump under that house!

0 Votes

All Forum Posts by: Paul Hitchings

Paul Hitchings has started 0 posts and replied 137 times.

Post: Due diligence for auction properties

Post: Do I make a bathroom Handicapped Accessible for a current tenant?

Post: Do I make a bathroom Handicapped Accessible for a current tenant?

Post: New Real Estate Investor

Post: New Real Estate Investor

Post: Wholesaling properties ny

Post: Squatters on possible deal.. What to do?

Post: Driving for dollars work...and it's pretty awesome

Post: Landing my first real rental/flip - advice on how to sell?

Post: Landing my first real rental/flip - advice on how to sell?