All Forum Posts by: Paul Shannon

Need a plumbers auger to run through the buried pvc to the sewer or edge of yard where the underground drain ends.  Auger bit will grind/pull out any debris.  

@Steven Epps @Andrew B.

Sump pump install/drain tile, $5K yes, but saying start with the gutters and current drainage.  In my experience clearing gutters and current drainage set-up and making sure they aren't clogged has saved me from having to take more expensive measures.  

agree with @Lynn McGeein  You really have to know the market inside and out before making offers site unseen.  That comes from looking at dozens of properties in person, running comps, driving streets, knowing rents and ARVs.  If you've got that down, you can look at pictures and feel pretty confident about the value you put on it.  Then, as others have said, you can get out of the contract if you find the property has structural/foundation problems, for example, once you see it in person. 

Gutters, downspouts and PVC underground.....make sure they are all clear.  Then any downspouts that empty into the yard (if any not underground) get extenders for.  That will likely mitigate the problem immensely.  The basement may still get a little wet, but as long as its not puddling, I wouldn't worry about it.  Very common in early 20th century homes.  If you get a lot of water, that's different.  Sump pump would be a must at that point and likely drain tile next.

I'd be looking at tertiary sunbelt cities for a couple reasons.  Concerning personal reasons, I'm tired of cold winters.  There's not much to do in Indiana for about 4-5 months.  I'd also be attracted to the tertiary markets because smaller towns aren't as crowded/have less traffic.  

For investing reasons, I think the south is poised to grow exponentially, as the net migration continues that way.  I'm a fan of tertiary markets b/c they are a little off the radar, so not as much competition.  Lots of upside with markets that have good jobs/employers.  

Think Greenville SC, Chattanooga TN, Huntsville AL.  

 Yes, correction.  Unemployment 2x as bad.  We got there about 10x faster this time.  

I agree with @Aaron K.  This time is different than the 2008 recession.  

First the unemployment rate is actually 10 times what it was in 2008.  The worst number in history.  The Fed has increased the money supply in the market significantly to keep things afloat subsequently.  One thing is sure to happen, as a result, is inflation because our dollar is now worth less.  Its just a matter of when.  Real estate has done well in inflationary environments.  

If however consumer demand doesn't come back to pre-covid levels relatively quickly, the jobs won't come back either, even if the virus is at bay.  People won't be able to cover payments and there will be delinquency.  Its a mess no doubt.  Massive transfer of wealth to the top continues.  

Check out the BP Bookstore....."The Book on Advanced Tax Strategies"

If you wanted to be a runner, why did you bother learning to walk first?  

I think some people get their RE license as a way to understand the industry or as a confidence building badge of honor.  Its a step forward towards reaching a larger goal, for those that may not have the confidence to jump right in.  Is it necessary to be successful as an investor? Absolutely not.  

I use it have access to the MLS, but you said that doesn't count :)

It seems to me that the real estate investors who list their deals on Roofstock and Home Union are the ones making the money, not the investors buying off the sites.