All Forum Posts by: Sean McCluskey

@Dhaval Shaw that just says you can elect to end the lease. Does the lease say anything about how payments are applied to existing balances?

Was the payment they made enough to be a current rent payment? Or would it be partial?

@Dustin Allen OK thanks, that makes sense. I haven't bought any of my rentals on market with an appraisal contingency so I have not had that experience. Only refi appraisals for me!

@Dustin Allen how does an appraiser know the number of offers? Is that a field that agents fill out in the MLS listing for the house?

@Cassie Paul how would you tap into the 20% downpayment that you put down? I havent heard of any lenders who will lend over 80% on a rental property.

@Thomas Dunsmore it's more the opposite, make sure you confirm that the real estate taxes dont INCREASE since it's a rental. In Indianapolis, the tax rate is 2% of value a rental, 1% - homestead deductions for owner occupied.

@David A. Are certain areas of Florida more prone to high insurance rates? Or for hurricanes in general?

@Rafael Ramon that is an incredible number! If you were occupied all 27 days of December, that would be an average of $272. What was your base rate or occupancy rate?

@Nelly Barskaya The market here in Orange County is really, really hot right now.

October single family home sales were at a 15-year high in October. OC Register 

Are you looking to house hack in small multifamily? Or are you looking purely as an investor?

@Jennifer Torino can you share the listing photos?

@Jennifer Torino it's hard to reply on the phone because I cant look back at your post. But 13,500 for a new roof is a lot. 12,500 for rewiring is a lot. Is it aluminum or knob and tube? (Aka actually bad?) Or is it just an old box? Replace a circuit breaker is $750-1000. The doors and carpentry and drywall are where this looks overly expensive. I think you would definitely do better by focusing hard on bringing that down, finding an investor grade contractor who doesn't get retail clients, and limiting hope much you are changing the house. Why do you need all new drywall, exactly?

All of the line items you listed, already include profit. And then they're listing more profit on top, for $40k? No way