All Forum Posts by: Scott Mac

Your upgrades look very attractive.

For rental though, I would have not spent a nickel changing either of those kitchens.

White cabinets are going to show a lot more grime at turn time then the brown ones will.

I would simply have left a welcome kit for each renter that included some shelf paper, toilet paper, and a new milky white shower curtain, plus a small bag of Purina if they have a pet.

The shower curtain because sometimes renters don't have one when they move in and they want to take a shower after moving their stuff in and flood the floor until they get a shower curtain. A couple of dollars at the dollar store for a cheapy milky white curtain prevents this.

Back to the kitchens, I especially like the  (before) galley kitchen with the tile floor, and if there was a door opening at both ends at ADA specified widths that would be a nice feature too.

Good Luck!

If it were mine I would try a pressure wash.

Like is used to clean the driveway with when there's an oil spill. 

Good Luck!

 It might be a divorce court situation, or a probate.

It also might be wise to speak with your escrow company about how they intend to handle the LLC in its closed down condition with the state due to non-payment.

Good Luck!

Is there enough of a data set of these tax sales In your area, during the recent economy, to come up with a statistical likelihood that is reliable??????

If you have to ask that question, nobody knows your situation better than yourself, and you could not answer yes your income is fine-  most likely it is not.

That is my thoughts on how you would know.

Good Luck!

What kind of maintenance costs are you running into?

Much of What remains of Detroit appears to be brick, a low maintenance exterior.

Many of the refurbished structures seem to have new windows put in.

When you do a rehab are you using new appliances or used appliances?

Are you upgrading the old 110v electrical system to 220v 3 wire?

Are you sludge hammering out the old coal heating systems for modern natural gas Forced air HVAC units?

Exactly what kind of maintenance costs are you having problems with?

Let's turn this crystal ball a little bit, and look at OWC from another angle.

Something that hasn't been brought up is the no money down dreamer who is just starting out with empty pockets.

And also the risk that may be associated with not having experience in this business handling a refurbish and bringing a property up to stabilization.

What I'm saying is, a cash cow for some, might be a very sharp tooth alligator for others.

Just my 2 cents.

If it were mine, I would have the same company come out that did the install and refurbish the area back to its original condition.

And dun the security deposit for the amount that it cost to restore it.

All the while remembering- there are no pit cats, only pet cats (and dogs using the backyard as a restroom is one of the reasons I think cats make better renters than dogs).

And the reason I say cats and dogs are both renters, is because the signatory to the lease typically considers them to be family members.

Move to ban their pet, and see how long the signatories continue to pay you rent or just move on. 

Good Luck!

Your outdoor setup reminds me a little bit of this classic movie scene:

https://www.youtube.com/watch?v=JrYtD7gSWsI

I think this owner needs to screen his renters a little better, And fix that hole in the wall.