All Forum Posts by: Randy Gutierrez
Randy Gutierrez has started 3 posts and replied 169 times.
Post: Items missed during home buying inspection

- Investor
- NY
- Posts 171
- Votes 80
Quote from @Mel Smith:
Quote from @Randy Gutierrez:
Apart from opening the door to an electrical panel and opening cabinet doors, the home inspection is purely visual. Unless the joist was visible from the basement it most likely would not have been seen and put in the report. Buried in the terms of a home inspection report you will see something along the lines of that they are not held liable for anything arising from the report and that there are no guarantees and warranties of their findings, something you most likely signed or agreed to.
Thanks for the reply. The broken joists and the others that had to be replaced were all easily visible when in the basement. There were other items (not connected to the joists issue) noted about other possible issues in the basement. Even with them being easily visible, I probably have no chance of getting some type of compensation from the inspection company?
I would say that is correct, there will be no chance. The company can just claim it occurred during your ownership considering a decent amount of time has elapsed.
Post: Unfortunate pump and dump with shoddy rehab in Allentown

- Investor
- NY
- Posts 171
- Votes 80
There is a notorious landlord in the area, wouldn't be surprised if it was one of his.
Post: Estimating Operating Expenses

- Investor
- NY
- Posts 171
- Votes 80
Quote from @Adam Pervez:
Hello!
I am looking at a house hack in Easton, PA. Prior to making any decisions, I want to make sure I properly analyzed the property (specifically expenses that would be associated with the property).
The list I came up for operation expenses (not including Debt payments or any expenses associated with the mortgage)
Property Taxes, Home Insurance, Home inspections, Water, Gas, Electric, Garbage, Utilitities, CapEx, Maintenance.
What are other expenses I should list down? Also, when it comes to determining some of these expenses, is it best to call the company that handles this for the general area?
Property taxes are public record, just have to look it up. Even Zillow/Redfin can tell you what they are. Home insurance varies, I'm paying $1275 for a duplex in Easton. Home inspections are $400-$600, add $100 for a termite inspection. W/S/T (Water, sewage, trash) come out to around $1800 a year for my duplex. Gas and electric depends on usage and what they are connected to so I really couldn't tell you. However utility companies can tell you the previous history of usage/payments, so yes it is best to call the companies that service the area. The only thing I see that you didn't account for is landscaping/snow removal.
https://www.easton-pa.com/fina...
Post: Investing in Easton and Bethlehem Pennsylvania

- Investor
- NY
- Posts 171
- Votes 80
Great areas but highly competitive.
Post: How do you analyze a property?

- Investor
- NY
- Posts 171
- Votes 80
Pretty broad question but I would start with the tools section on here, there is plenty of information there on how to analyze a property. If the numbers pan out then I would proceed to look for any major red flags regarding the property such as foundation, HVAC, electrical, plumbing, roofing etc. If you have anything more specific to ask I'd be happy to help.
Post: Need help with Rental Agreement

- Investor
- NY
- Posts 171
- Votes 80
ezlandlordforms.com has state specific ones. They are editable and even provide addendums and federal forms.
Post: It's not possible? 850 FICO for a RE investor?

- Investor
- NY
- Posts 171
- Votes 80
Quote from @Bruce Woodruff:
My worst credit score came after I paid off ALL debt. They hate it when you do that....dropped 125 points in 30 days.....
What a scam it is, but if you know how to play the game and don't care, you can do well....
Funny you mentioned, I paid off my car loan and it dropped 20 points, like WTH?!
Post: Items missed during home buying inspection

- Investor
- NY
- Posts 171
- Votes 80
Apart from opening the door to an electrical panel and opening cabinet doors, the home inspection is purely visual. Unless the joist was visible from the basement it most likely would not have been seen and put in the report. Buried in the terms of a home inspection report you will see something along the lines of that they are not held liable for anything arising from the report and that there are no guarantees and warranties of their findings, something you most likely signed or agreed to.
Post: Landlord apps for rent collection

- Investor
- NY
- Posts 171
- Votes 80
There are many out there, they are pretty much all the same and most, if not all will have a delay from when the tenant sends their rent and until it hits your bank account. Zelle is the only one I've seen where it will hit your account right away. We have all of our mortgage payments automatically withdrawing the 10th of the month to cope with any delays in processing and late rent.
Post: The tenant says she lost her job and breaking the 2 year lease

- Investor
- NY
- Posts 171
- Votes 80
Not worth the fight, let her leave and take it as an opportunity to raise rent.