All Forum Posts by: Peter Mckernan

I would average it out over the 4 people, or just raise rents to cover the utilities. 

Depends on how the wholesaler/seller wants it.. Typically a lot of wholesalers, it is verbal, then if you are going to get it you get an official offer to sign and submit with the amount of EMD you need to put in. You don't put that EMD in until that offer is accepted by the seller.

I always go with some that is willing and ready as a tenant today that is qualified! They need to be qualified to your standards to make this a good decision. If they are I would not wait a time period to get someone in there to rent out the place. I am renting out that property as soon as possible.

I would move forward with small claims with this person and if they cannot afford the bill out of the gate, send them to collections and recoup. That will be the best move! 

I agree with the comments on this one from above contributors.. It is really tough to pin it on an inspector, and they do a lot of CYA when they are doing the inspection. Inspector quotes something like, "AC was not running properly have licensed HVAC company inspect the AC." 

These things the inspection company can say, well, we could not access so please note, this area should be inspected. 

It is tough to nail an inspector on stuff unless there was clear missed items. Example, tested the stove and never actually tested it and it was not working at all which it does not show any findings in the report either.  

- Does it need to be staged in that area? 

- 3K for design, this should not be something you are paying for... Take a look at the flip down the street and R and D it... Rip off and duplicate (rip off, means, use the same style, same materials and all).

- That HML is pricy at 11.99%... I would be shopping around each and every day when you are getting deals done.. This is an example of it... You need to shop around and get the best rate and best point breakdown
-you would have made money on this stuff... TBH, the management fee is too much too... You could manage some stuff on your own too

If the old wiring is knob and tube I would suggest you do get it rewired.. Especially is this is going to be in your portfolio for a long time. I would also get 5-7 quotes on this rewiring from licensed contractors/electricians before committing.. You might be saving $500-$1000 by doing a lot of bids and finding someone to do it for less.

this one is a good example when you pull local comps in that market to see if the extra money is well spent or not. To be honest, most the time a garage is a value to the property. I would have a realtor in your area that you trust pull comps that show garage sales prices verse carport sales prices. 

I would go into the city, do not give them your address... Say this is something that I saw this place listed on like, or thinking of buying a place.. Then enter your situation, and see what they say. If it does violate city code they can for sure tell you to take it down or tear it down to the studs then put it back together in the right way per today's city codes. 

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this one is good, I have not used them but they have been highly recommended from a lot of people.