All Forum Posts by: Account Closed

Every time I hire a contractor I come out the other side with a few notes of what to make sure I discuss at the start the next time around. I'm getting ready to do a full replumb on a gutted house (kitchen, 2.5 bath, baseboard radiators). Any tips on things to make sure I discuss with the plumber at the start?

@Chris Mason thanks for all the info! Appreciate it

@Bill Brandt good to know, thanks! I mostly want to under leverage because I want strong cash flow from each property but good to know it will help with the additional mortgages too

I have two properties now and I am planning to ramp up to about eight over the next three years. I was planning to have about 70% equity, 30% loan on each. I've recently read that after your fourth mortgage it is much more difficult to refinance. If this is the case, I'd rather pull more equity out of the first four. Does anyone have any experience trying to get loans 5 through 10?

@Tyler Kennedy there is definitely some coming in through the roof, but only in a few spots. I think I might be able to just clean out those spots

I'm fully gutting a single family house. I have the lathe and plaster out of the finished attic and there is a ton of cellulose insulation behind the walls. Should I leave it in place or dispose of it and replace it? The house has a lot of mold so I am a little worried about moisture in the existing insulation.

@Jim K. It was through pgh property buyers and pv settlements. They both seemed legit and I got good recommendations of each from other investors in the area. I talked with the settlement company today and I think it is all good. Just takes a few days for everything to get processed and get back to the city that the sellers mortgage has been paid. Thanks for jumping I though, was pretty worried there for a bit

@Wayne Brooks sounds like the second scenario based on my call with the settlement company today. I thought it might be something like that but it's my first cash buy so I am very paranoid. Thanks for the info!

@Shaun James I do indeed have title insurance. This is just my first time not buying with a mortgage so I kind of don't trust anything. I got a hold of the settlement company and it seems it's all good... The city just doesn't know immediately when the sellers mortgage is paid off so it is still in their system until everything gets processed

I closed on a house from a wholesaler last week. Today there was a notice on the door saying that the property would be auctioned at an upcoming sheriff sale. I left a voicemail with the settlement company to see what is going on. Has anyone experienced this before? Location is Pittsburgh PA