All Forum Posts by: Ronan M.

I'll second what others have said. Roof looks pretty decent to me.

@Edward B.

Actual land mines might not be a good idea. But Land Mine WARNING signs might make a few bad guys think twice.

$3600 seems crazy. I just installed a pump (not a battery backup pump) just a replacement sump pump for $600 parts and labor (and he did a few other minor plumbing things while there)

PM me if you want the guys info.

How much does the Insurance cost now ?

Ask the seller.

"Personally, I just note the date and activity on a spreadsheet, but I'm concerned that may not be considered proof if/when I ever need it."

I do the same but then I have the tenant sign and date it.

Not an expert but I believe a franchise of that amount (600K to 1M) generally requires the potential franchisee (you) to have at least $250K in liquid net worth. Which you don't have if you have to borrow all of it.

"The fan only costs $30-40 to be replaced"

A quick spray of WD40 around the bearings might only cost 30 to 40cents and still do the trick.

Collections spread over 4 years, a new company less than a year old (very high risk) and a Fed Tax lien.

Run.

"What questions should I ask myself before buying"

Who's paying rent.

If its full and they are all paying rent - Very big Pro

If its full and nobody is paying rent - Very big Con 

I have done new baby stuff too for my good tenants. $25 gift card for Target. Not original I know..but at least that way they can get whatever they want for the little boy/girl/twins or whatever little bundle of joy has arrived.