All Forum Posts by: Rivy S.

@Jeff Greenberg  Do you recommend inspecting mechanicals separately? Is that a cost that you find is justified in the long term? 

@Jeff Greenberg @Jeff Rabinowitz @Corby Goade

Thank you all so much for responding.  I guess I'll just have to suck it up.  Yet another reminder as to the misleading nature of really exciting pro-formas...

I recently purchased a property out of state. I had it inspected before the purchase, obviously, and the inspection turned up pretty clean.  Some renovations were needed, which were just completed.  During the final cleanup, the manager sent out the HVAC tech to clean up the furnace, and he discovered that the furnace's heat exchanger has several cracks which can't be repaired.  We are confident that this issue was present before I took ownership of the property, because since the closing there has been no gas supply to the unit, and the rollout limit switch (which had been tampered with) only trips when the flame distorts due to the cracks. 

Does the inspector have any responsibility in all this? A broken furnace would definitely have factored in negotiations on the property.  

I had a tenant that missed rent for 2 months.  During eviction proceedings, we came up with a settlement that she would pay an extra 200/month until she is caught up.  At the time, I had a really lousy management company, who I fired soon after.  When switching over to a new management company, it took a few months to get the documentation from the old one about the money judgement.  This month they began charging her the extra 200/month (the outstanding balance is 1100).  When she saw the extra charge, she sent in 30 day notice that she's leaving, because it's too expensive --without paying this months rent! (lease was expired, she was going month to month)

So, I've got 2 questions: 

1. Is there any way/point in going after the 1850 (1100 +750) that she owes me? The property is in Michigan. 

2. If she's not going to be paying, do I really have to let her stay the rest of the 30 days?? It's probably not worth filing an eviction when she's leaving anyway, but it's upsetting to have to wait to do a turnover because a tenant who is not paying is living there!

@Jay Hinrichs  No, it was not a turnkey, more like full service PM.

@Jay J that's a good idea.  I have a relative who lives in the city, maybe I'll ask them to swing by.  Thank you!

I got some, but an incomplete set. Definitely not pics that could be matched to the line items that they told me they were fixing, but enough to show that some work has definitely been done. You think the reason for the delay is that they ran out of money before they could complete the renovations? If that was the case,  wouldn't they ask me for more, rather than just let the whole thing stagnate?

I'm a newbie investor who recently purchased a duplex through a company here on BP that has an excellent reputation, and stellar reviews.  Unfortunately, they are not coming through for me... They were great up until the closing, but since then communication has been spotty at best.  I closed on this duplex on March 30.  There was about 5K of work that needed to be done. ( I was just instructed to send money, never really got a quote of what that money was for, but the general list did not include any major renovations, just things like painting, some electrical work, cleaning up, etc)  

It is now almost two months later, and I don't believe they have even begun showing it to tenants! I am already paying holding costs, without any cashflow coming in. This is an out of state property, so I can't easily go and check what is going on.  Every time i ask for an update, I'm told were finishing up, will be showing really soon... 

Can any more experienced investors give me some insight on what the turnaround time should be on a project like this?

Does anyone have suggestions on how I should approach the situation?

Wow, this is awesome news! I second the motion about posting the video of the sheriff removing these people.  There's no chance they can appeal this, is there?

donated!

Have you taken steps to get media attention? This is really an absurd story, someone will be happy to run with it, no?

Hi all,

I recently put a contract on this property in Parma, OH

https://www.biggerpockets.com/forums/517/topics/257355-parma-house-b-grade-neighbourhood-1000-month-17-coc

I'm located in Dallas, so I hadn't actually seen the property.  My offer for 55k was accepted, and I sent $1000 earnest money.  But! I was looking more closely at the pictures on zillow (which I should've done before) and I noticed that the only full bathroom in the house seems to be off of the kitchen! (The bedrooms are upstairs).  Additionally, the house doesn't have a basement, and 90% of the comps do, not sure how that would impact rentability/resellability. 

Do these two things seem like a deal-breaker to anybody? Or are they not a big deal?

Also, what happens with my earnest money if I back out now? 

Thanks for your advice!

@Federico Gutierrez would love for you to chime in