All Forum Posts by: Tom Fidrych

Prices for such upgrades often differ according to region , difficulty in installation access, as well as seasonal demand surges. So it's best to get at least 3 quotes and do as close to an apples-to-apples comparison as you can. 

Many people in CA rent travel trailers out and you would be responsible for making sure the systems work. It may not be legal in many areas but is typically tolerated unless someone complains. I had one permanently parked trailer and installed a regular toilet in it as well as large dorm sized refrigerator to replace the existing RV refrigerator. Also re-plumbed it with PEX as the poly tubing it came with is crap. I had friends living in it off and on for a number of years.  If your component breaks, you will be able to improvise a repair with commonly sold materials.

A friend owns an excavator business and is located on acreage. He created 6 RV parking spots(not visible to one another)  and dropped utilities. This rental model is a lot easier as the tenants bring their own RV and are responsible for it's maintenance.

You will have to pay for this, not your HOA. I'd remove the toilet and bathroom floor and decide what to do based upon how extensive the damage is. Is there a unit under you?

It could be that a section of the sewer line under the house has the issue. As you mentioned, if it was the sewer line from the house to the street, you would expect both toilets to have an issue. Most plumbers video record the scope, perhaps you could look at that. I'd also get a second opinion and scope with video given the $$$ involved. 

Traditionally, this is the slow time of year for sales. Does your agent think you have priced it properly? Most anything will sell at the right price. It looks like your next to a car wash or some kind of commercial building-perhaps that is holding it up. 

It's trickier to make it work with these low ARV values. You might be best to bring a GC over to see if you can get it done anywhere near your ballpark number. If you plan to flip it, there may be no margin after you pay the selling cost. The region you are in will make a difference with the rehab cost as will the number of square feet. If you plan to rent it out, it will be in great condition and you shouldn't get many repair issues but what would it rent for?

Do you know why the seller gave up? Redtag? Out of money?

I wouldn't play the game of applying some of the cost of the rebuild to your personal residence to avoid bringing it to flood code. You will be better off in the long run bringing the structure's elevation above the flood level. This should reduce future flood insurance rates, increase the marketability of the home as well as decrease the chance of having to go through this in the future. The home should also gain storage space under it with the higher foundation.

Quote from @Mitchell Roadruck:

Seeing a big drop in rates (1% over the last few weeks). In your opinion could this steep drop lead to an increase in new purchases leading to higher inflation, in turn raising rates?

Yes.

Almost no tenants are going to disclose damage. It's up to you to figure it out and hopefully you have video or pictures showing the before and after condition of the unit. If the damaged section is small, consider having a professional company do the repair with an epoxy based solution. If the damage can't be fixed with epoxy, have a professional company do it as you can't bill for your personal labor.

That being said, don't get too personally attached to the way your rental is treated. Things like this happen all the time and it's just business. Have the problem repaired, document the problem relative to the move in condition and bill accordingly.

How long has the property been on the market? If it's been a while, you have more negotiating power. I'd ask them to have a new 100 amp panel installed. The worse they say in no. If the panel is in good working order, then I don't believe you would be as liable as in the case you knew the panel was unsafe.