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All Forum Posts by: Stone Teran

Stone Teran has started 53 posts and replied 369 times.

Post: they got a puppy

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I always get the story that the dog is "just visiting" and I tell them that dogs cannot even step foot on the parking lot.  As others said, don't wait to act.

Post: Cash buyers are not serious

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Chris K.:
Originally posted by @Brandon Connell:
Originally posted by @Jacqueline Carrington:

Put a dummy ad on Craigslist that you have property 40%+ below market, cash only deal. See who responds.

 I have.

 So you're annoyed with people who aren't serious "cash buyers" but it's ok for you to put an ad up making a false claim that you have a discounted property? Isn't that kind of hypocritical?

 Yes it is hypocritical

Post: Can you really do this part-time??

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Yes

(add more detail in your question if you want better answers)

Post: carpet install

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Dan Vleck:

I just completed an install of 750 sf of carpet in a 4 bedroom rental house with three seams. Carpet went in the living room and a connected bedroom. I watched several you tube videos and read carpet installation specifications to learn how. Turned out nice. Saved close to $500 over paying someone to install it. Took me three days working by myself from bare floor to done. Toughest part is making perfectly straight cuts on the seams. I rented the seaming iron and the stretcher. I bought the other tools for about $75. Hard work, like roofing, but rewarding. 

 Awesome.  I am lucky enough to know a great carpet guy who does my carpet, but it's always valuable to know how to do it yourself in case you're in a huge hurry and to make sure those you contract do it well.  If you have the time, by all means do it yourself.

Post: Shower mixing valves

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I recently purchased an apartment building that will need several shower mixing valves replaced.  I've always used Symmons Temptrol and I never had one fail.  At $130, they are a little pricey but not outrageous.  Before I invest in several more, what specific brand/model do you plumbers out there prefer?

Post: Now they don't want the apartment

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

How do you handle this situation?

The prospective tenant applies, says they want the apartment, pays the deposit and says they will be back in a few days with the rent and will move in.  We don't yet sign the lease.  A few days later, she says that she changed her mind.  Do you keep the deposit or give it back?

Post: Coil top stove OR Glass Top Stove?

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

Glass top.  Coils are much harder to clean.

Post: I have no free time! (and its exactly what I want!)

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

John, your diagram shows just as much free time at the end (with all the success) as there was in the beginning, which is rarely the case.

My workload keeps increasing and I'm outsourcing more but I'd be a fool to think I will ever have the free time I had in my 20's.

Post: Tenant stealing electric

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120
Originally posted by @Arlan Potter:

Your tenant is just taking advantage of you. The picture above is what stealing electricity is all about. My tenant used a battery jumper cable end and an alligator clamp to run juice from the overhead wires and around the electric meter. It is amazing they did not burn the house down. They got away with this for months. Until I found it and called OG&E. I also had a commercial electrician in one of my rentals. Now he did a professional job of bypassing the meter. I found it by only by checking the meter and finding it had no service but he still had the lights on.

 Wow!  It's amazing what dishonest people will do.

To the original poster.  This is definitely a criminal offense but getting the cops to file charges is difficult.  When it happened to me, I called the police to scare the guy a little and then I used physical measures (locks) to keep him out until he was evicted.

Post: Will banks counter offer?

Stone TeranPosted
  • Investor
  • Cincinnati, OH
  • Posts 374
  • Votes 120

I have seen some banks actively negotiate an REO and others you get only one chance to get to the right price. The seller's agent, I have found, usually has a pretty good idea of how active the bank wants to be and how low they might be willing to go.