All Forum Posts by: Kirk R.
Kirk R. has started 69 posts and replied 925 times.
Post: How to clean orange shower scum?
- Peoria, IL
- Posts 967
- Votes 383
I have same question. I've normally replaced the grout. & even some of the shower surround gets that orange brown looking nastiness.
Post: Banks that finance under $50K loans
- Peoria, IL
- Posts 967
- Votes 383
I've done this at a local community bank. Also at a local credit union as a business loan. That's where I would look.
Post: Best job to get for prospective real estate investors
- Peoria, IL
- Posts 967
- Votes 383
I think the key to real estate investing is having MONEY TO INVEST!
so being Frugal & getting the highest paying job you can in whatever industry.
I would say calling a banker would be a better 1st step. Banker will give you current requirements to get a loan. So if he says you can get $200k, then you'll know where to look. If he says your DTI is too high then you'll know what to work on.
Some good spreadsheets on here. Also, people frequently post for feedback on their analysis. Take one of their deals & analyze their analysis & see if you can offer suggestions to help them out while you're learning. My 1st place I look to analyze their deals is how much per month they think the taxes will be.
assuming investment non Owner Occupied? I would call a banker cause it will be pretty specific to your credit score, dti, w-2, assets etc. etc. & probably vary banker to banker. Current environment banking/banks seem to be changing lending requirements hourly :) But if you're serious, I'd take the time to call at least one banker.
Post: Tenant asked for pest control while it's their responsibility.
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @Karl B.:
The ants are just taking a shower in the dishwasher. They'll leave soon.
But seriously, I can understand why you don't want to hire an exterminator, especially if it's stated in the lease.
I tend to give tenants liquid Terro Bait (it costs a few dollars) if there are ants. If they're outside I put a few traps along where their little trail is so they eat it, take it to their lair, and kill the colony.
LOL shower. I use the terro liquid baits also. Most the other stuff I've tried doesn't seem to work.
This year I finally got out ahead of the curve. Seems like once the ants take hold much harder to get rid of them. This year as soon as I saw a couple. I put out about 8 terros. & so far so good. think the terro baits are about $6 or something for 4. They also have outdoor stakes. I was gonna give those a go but didn't. Anyone else tried the outdoor stakes? Seems like a way to go without entering the property.
Post: response to future buyer when asking about Selling Price Re flip
- Peoria, IL
- Posts 967
- Votes 383
You've got a chance to sell. Send him a price of 7% above what you want. So he can negotiate you down a little. Just pulled the 7% out of thin air :) Plus if you can avoid a Realtor that saves you 6 or 7%. Are you planning to go through a Realtor? Have you picked a price? Why not advertise it with a sign in the yard now (unless you're worried about vacant house theft).?
Need lots more information/specifics imo to get a very good answer.
Post: New to Real Estate and seeking advice
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @Jed Jordan:
I've only recently been introduced to Bigger Pockets, and just joined today. I have been interested in real estate investing for many years, but am not sure I want to deal with tenants. I know this can be a problem.
A little background on me: I have a day job that I really enjoy about 95% of the time. I am not looking to make a career change any time soon. I am blessed to earn a high income and have reasonably high job security. My income is largely commission based so it does vary depending on the overall economic picture. That said(or typed), I have managed my money reasonably well and have a decently sized bank account from which to invest. I am currently invested in just two places: the stock market via individual stocks and broad based etfs, and an equity share of the company by which I am employed. I need to further diversify. I also relish the idea of generating passive income when I retire in ten years give or take.
I am looking for advice on what direction to take seeing as I personally don't want another job managing properties or dealing with the aforementioned tenants. I have thought about short term vacation rentals with a management company handling the day to day. I've listened to podcasts on the site dealing with notes which seems interesting.
I understand that my starting point might be somewhat unique, and am looking for ideas on the best path to get started, taking into account my particular situation and goals. Thanks in advance for your input!
sounds like you're rocking it pretty good without having to mess with Real Estate. Maybe Just get frugal & save some dough. Although, one thing to maybe ask yourself is how your investments are protected from possibility of hyper inflation/huge taxes on the other side of our current situation. Definitely don't put the job at risk with some of the crazy motivational RE investor "gurus". 95% liking a job is pretty impressive. My w-2 work is about 85% liking.
Post: keep it white. racist potential neighbor. wth.
- Peoria, IL
- Posts 967
- Votes 383
Originally posted by @David Martin:
@Kirk R. Take the 10 minutes to look the guy up for general trouble. Pull the tax record for his lot, get the name, run it down on the local county crime records and do some Google searches for new stories with his name... beyond that, generally agree with Splitrock's assessment here... between him and a renter, the renter is the least invested in staying in place in a socially awkward situation, so they'll likely move way before he would.
assumed county for the search... http://justice.peoriacounty.org/Search.aspx?ID=100
Checked it out. Says two people live there. 84 & 87 & potentially they are snowbirds to Florida. Couldn't find much more. So 84 & 87. Eventually Could go two ways. Gets sold or some of their younger offspring move in.
Guy I was talking to definitely wasn't 84 years old.