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All Forum Posts by: Ryan M.

Ryan M. has started 15 posts and replied 669 times.

Post: Uninsurable house

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

It's a bunch of crap these insurance companies, pay out the nose all those years like a good little policy holder. Then make some claims and guess what your canceled.

Thats my opnion anyway.

Post: Federal Pacific Panels

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182
Originally posted by Samantha M.:
Originally posted by Arjun K.:
Doesn't it matter if the panels are interior vs. exterior? if you have say GE inside, and FP on the outside.. perhaps there is less need to proactively replace (if everything is in working order)?

This is a good question, does anyone know the answer to it?

Why would there be 2 redundant panels?

I replaced one but the meter had to be pulled by the power company as the disconnect was also part of the panel. I swapped it after the meter was pulled had my friend a 'sparky' check it and sign off on it. The power company needs a permit to restore the power. Had $180 into it with the panel, permit, and dinner for my friend.

I will echo, move on to someone new. It happens all the time, things change leases get broken. All part of the game.

Post: Tenants Negligence Causes Damage

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

I tried to post NO but that was too short to post by itself.

Post: Will Cash Flowing Rentals Disappear When Interest Rates Increase?

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Rates don't seem to be a issue when you're paying cash....

Post: Menards

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Menards loves rebates and I love using them. I order full rolls of carpet and water heaters during the 11% sale.

Menards manufactures their own doors in Eau Clair, Wisconsin.

Look up John Menard the owner. He is a billionaire with a not so great image.

Post: $300K investment = $29.7M profit

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

I found were the previous person cut all the circuit wires behind the breakers in the panel, no value though.

Post: Section 8 lease

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

I had a section 8 tenant that was evicted last month.

Section 8 payed all of their rent ($995/month). The electric was shut off in December and after 2 weeks the temps turned and I put it back in our LLC's name. This was in violation of the lease. 30 day notice, court, 10 day waiting period, and I was on my way over there to meet a Sheriff and move them out but she finally answered the phone on the drive over there. They moved out the night before. That was the last section 8 unit and I'm very happy to be done with it!

These people were pocketing the utility money, brillant. The energy provider and the Michigan attorney general were investgating them for fraud. They were able to keep their section 8 through all of it but it will catch up with them. The LL were they are now will get screwed at some point. I had to show a deed to get the electric back on and the new tenants had to bring in a signed lease to transfer to them.

Paint, carpet, and heavy cleaning and the unit was turned in 6 days.

Post: Snow removal and grass cutting

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

I have a service and with the volume of mowing its very reasonable, plus it gives someone a job. The people are on their own in the mobile home parks. In my 20s I would mow everything for the exercise. But once prices dropped my time was better spent not mowing.

Post: Thinking about first duplex. How's it look?

Ryan M.Posted
  • West, MI
  • Posts 674
  • Votes 182

Duplexes and 4 families are apples and oranges. Your class of tenant is different, tenant disputes, etc.

We have both. This my pet peeve with this site, people giving opinions that aren't actually doing it.