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All Forum Posts by: Account Closed

Account Closed has started 5 posts and replied 571 times.

Post: Main water line to house is broken

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

One tip I might offer about replacing water lines or installing underground wiring. This is especially relevant if you intend to hold the property long term. If you are using pex or another type of flexible pipe. Get an oversize roll piping and run your waterline or electric line through it. An example would be a one inch pipe with your half inch waterline in it. This allows you the ability to attach a new line to the old line and pull it through eliminating the need to excavate.

Post: Buy-and-Hold with Polybutylene Pipes?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Go to Lowes and spend a few hundred for pipes and fix in two days. I know I do too much diy but I can't stand to be ripped off.

Post: Bank Fraud and Foreclosure - any other victims? Advice?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

something isn't right here.

Post: Need advice on wether or not to rent to people on disability.

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

People have been finding legal ways to do things that are not morally right forever. You can't legislate morality. 

Post: paying 10% of repair cost to management company

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

If they are charging a fee for overseeing the work, in most states they need to be a state licensed contractor. Ask for their contractor's license number.

Post: I'm POOR....but DONT want to be!

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Stanley, your post is now 20 minutes old.

Post: Tenant added fire pit and grill - what would you do?

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

This is a direct violation of their lease. Nip it in the bud before they start violating other terms in their lease.

Post: Criminal background clean but has a recent arrest

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

So was he found innocent of these charges?

Post: A Rock Climber Living Out of His Van - REI Newbie

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

Seems like I am the one always looking at things from a different angle so here goes.  Right now you are living the life that most middle aged people with responsibilities dream of. Being a landlord isn't a carefree existence.  If you have a mortgage the bank is your boss. The tenant is your boss. The building codes inspector is your boss. The house is your boss. Are you planning to use professional management? I would take the money and use it to do at least one low dollar flip each year. You have no long term commitment and can flip where ever your van takes you.

Post: Learn to get creatvie w/financing...look how i saved my deal

Account ClosedPosted
  • Johnson City, TN
  • Posts 586
  • Votes 705

What was so difficult about Wells Fargo's flip criteria? Hopefully they will get a better appraisal come refi time.