All Forum Posts by: Tom C

Very nice buy Kel. Roof, gutters and siding looks good. Newer widows. Hardwoods look ready to go. Bath just need a little calk from what I can tell. That would diffinitly be a $550 per month home in my area. Did you paint the basement walls? That is something I always do. Tenants and the inspectors like to see that done.

Nice buy.

Jeff,

I don't live in a big city and yes, there are plenty of properties to go around, but the property that I want, just went up $5K, because someone from out of town out bid me and has no idea what and where they are actually bidding. Also, not everyone is in subsidized housing. The health care industry is huge here. I only had one Sec 8 tenant.

I agree with Jon on the offer price, but it's worth a shot. Your plumbing, chances are you may not have any issues. Gas is another story. Many homes have minor leaks right now, but they are not big enough to even smell, but as soon as the gas guys pressure test it, they find it. It's not expensive fix. The gas company can find the leak as long as its in the open. From that point all you have to do is break open the joint, putty it and screw it back together. Sometimes the gas guy will even do it for you.

If you leak is in the yard, then you are talking a couple grand to get it fixed. In this case all they do is dig it up at the street and run a new plastic line through the old line.

Dirt legs are nothing but a capped piece of pipe that is around 8 to 10" long. You install it with a T on to your gas pipe right before the connection is made to your furnace and hot water heater. The idea is that any dirt coming through your gas line will fall into that piece on pipe hanging down before it enters your control for the appliance. Many older homes do have these and you will be red flagged without them.

My last deal was a REO, Fannie Mae. List price was $24,9K. I offered $14K, $1K earnest and bank statement showing POF. They took the offer. That was 6 months ago. Can you imagine what they are will accept now? keep in mind, the property was on the market for over 8 months and they dropped the price 3 times before I even look at it.

Ah.. I found it. For some reason the first time it took my to a Rock music site.

Luckily Ohio law has now changed and we now do have the right to protect our property with a gun. Mike is correct about the cops just being lazy. I can tell you that if I was called by a homeowner and told that someone broke into their house, even if vacant and is living there, I and most of my fellow officers would charge them and let their legal aid attorney fight it out in court. This is not a civil matter.

Eric,

There is a lot of advice here about purchasing a HUD house.. Just do a search.

Alex??

A rockers site?

Kel,

I have 2 open rentals coming up in Jan. I know exactly how you are feeling. I was just getting ready to pull the trigger and pull some cash out of a house for another purchase.

Over the past few weeks I have been really sweating over this. Although I can tell you that all I have done is put a for rent sign in the front yards and put ad's on craiglist and I have shown both properties several times with more showings coming up on Friday.

With all of the inquiries I have gotten just over the past couple of days, I am not worried about being able to fill them now.