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All Forum Posts by: Shawn Thom

Shawn Thom has started 40 posts and replied 573 times.

Post: buyer found new repair items 4 days before closing

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

Will Barnard that is a great suggestion. I am going to explore how to word that in a repair addendum. Unfortunately on this particular one it wouldn't have helped me much because I was still doing other repairs as recently as Sunday. I had a horrible time getting my contractors to go out there to do stuff. Needless to say I learned a lot on dealing with contractors and timelines etc but I hope to be able to work this into any future ones. Great suggestion!

Post: buyer found new repair items 4 days before closing

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224
Originally posted by Brian Hoyt:

Just pull the plugs that have reverse polarity and change what side of the plug the wires are hooked up to. You don't need an electrician to do this. Just turn the breakers off before you start. If you want, you could switch to 2 prong outlets, but I wouldn't spend the money on GFCI's.

I agree, easy fix on the reversed polarity. Most of the times (from what I've heard) when they put a repair addendum they say it has to be done by licensed electrician.

Marc Donovan I have already have an electrician doing the repairs. I was just asking about options and the fact it was discovered after inspection period.

Post: buyer found new repair items 4 days before closing

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224
Originally posted by Don Hines:
Originally posted by Shawn Thom:
...and obviously, I do now know about checking these myself for the next ones.....

And it sounds like you didn't replace any recepticals with new ones? Not digging; I was just wondering.
Who did your inspection when you purchased the place? My jury is still out about inspectors for flips. I have hired two to help me in my purchasing decisions. Both of them pretty well just wrote the place up as "needing up grades". I knew that already. What is broke?
You can buy a handy dandy tester at the box stores that will simply plug into an outlet and will tell you a lot about the electrical system.
Don

You are absolutely correct. I bought one for $5 and I'll be adding that to my list of things to inspect in the future.

Post: buyer found new repair items 4 days before closing

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

...and obviously, I do now know about checking these myself for the next ones.....

Post: buyer found new repair items 4 days before closing

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

I am hoping to close on my first rehab/sell this Friday.

During the inspection period the buyer did identify 2 plugs in the kitchen that have reversed polarity and some wiring that needs to go into a junction box in the attic. I have the electrician come out, he finds actual 3 plugs in the kitchen to fix and fixes them, then puts wiring in attic in junction box.

Buyer's do an inspection 2 days ago (that's a rant for another thread) and tell me that other plugs are broken too. I told them we fixed the 2 that were identified in the inspection.

today I get the full list. He has others that have reversed polarity and open grounds. He claims that when they put the junction box in the must have "messed everything up". I get one of the plugs pulled that is said to have a open ground and it doesn't even have a grounding cable in it. I talk to my GC and he said what he thinks probably happened is that the house was originally wired with out them and some one later came and put 3 prong plugs in but never cabled the ground.

So my question is that this was found after inspection period. I think I can show that it was that way prior since it doesn't even have a ground cable.

If I push back they would probably walk and I suspect I'd have to fix it anyway for the next buyer. If it came down to it, I suspect they could get the mortgage company to pull the mortgage off the table so they could get ernest money back etc but that is just a guess.

Post: Discovered Polybutylene Plumbing after Home Inspection

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

Whats your strategy on it? fix/flip? hold?

Post: Can I sue HUD for "stealing" my tenant?

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

HUD didn't force your tenant to break her lease did they?

Post: Rehab/Flip Analysis Chrome Extension

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

I've tried to do it a few times. I have not been able to figure out how to do interest only loans.

also if you adjust anything it messes up that line and you have to remove and re-enter. at least thats been my experience.

I have better luck with a spreadsheet.

I may be understanding the fileplace wrong so I don't know if this is a bug or not.....

On the free membership it says you can download 10 files per week.

When I try to download a file, I get an error stating I can not download more than 3 per week.

Post: New in Plano, TX

Shawn ThomPosted
  • Investor
  • McKinney, TX
  • Posts 588
  • Votes 224

Welcome!