All Forum Posts by: Walt Payne

We both prefer gas. 

Haven't had any exposure to microwave in a drawer, so no comment.

One other suggestion. If you have enough space, dual ovens are the greatest invention for those of us who love to cook. It is great to be able to have two separate temperatures going simultaneously. We both love it, and many of the higher end flips that I worked on have them.

Originally posted by @Lalaine Hagler:

"Is it the Landlord responsibility to change the light bulb"

My opinion on the list you posted is:

- bathroom sink ceramic paint are coming off

You should have fixed, replaced before move-in

- they want the garage door light to stay on after it opens up

Not sure if this is adjustable, some are, but I see no problem with them asking

- pen marks on the bathroom vanities

    You should have fixed, cleaned or replaced before move-in

- light bulb needs to be replaced

What @Gail K. said quite well. 

- nails on the wall 

     You should have fixed before move-in

The reason for changing the zones has to do with hard surface runoff, additional drainage provided, road grade changes, etc, etc that will effect flooding in an area. These constantly change, and therefore the likelihood of flooding in any given area shift over time in either direction. 

@Jerry W.  My 2013 goals were to get started with one rental, accomplished. 

My 2014 goals were higher. I planned on selling what was previously my residence, and investing in 4 rentals and begin flipping a few properties to increase seed money. That goal was a flop since that residence is just now scheduled to close in a few weeks. Life happens, and there are a number of reasons. Some within my control, most not. I added one rental, and have a flip almost completed. I expect to add a second rental for the year, and second flip minimum before end of year.

2015 goals: Add at least 4 new rentals.  Ramp up flip business by mid-year to get to at least one per month and continue building that side of the business, and therefore build rental inventory also. And most significant is to "retire" end of year. Or at least retire from my current job to be a full time investor, that is.

@Brandon Sturgill 

If your county has online records, you should be able to find out who bought, sold and improved the lot very easily. That will not necessarily tell you the builder, but it will tell you the developer. You might then be able to find out who the GC was by looking up who pulled permits. Tax records, deeds, permits, all can be used to find pieces of the puzzle.

If they do not have online records, you will have to go to wherever they store their records and look it up, and it may include several different offices to find out.

@Whitney Tyson  There are two parts to my answer. Definitely stick to your criteria. Always. A deal is a deal, and a bad deal is a bad deal. That said, if you truly know the numbers, and truly know what you are doing, you can be flexible in what criteria you use. So am I saying to stretch the numbers? No, I am saying that when the numbers you are using don't provide any opportunities, re-evaluate whether you can live with adjustments. But don't stretch the numbers on any one deal just to make that deal work. Always stick to what you know you need to get in order to make it profitable.

@Greg Behan  Some Realtors will give out codes, but they are risking a lot by doing that. You are under no obligation to make an offer at any time, and have no deadline other than the possibility that someone else will get the deal. Lowball offers will work under some circumstances. For example I see a lot of REOs listed as if they are first time listings now, but if you watch you will notice they have been on the market previously and the deal fell through. Those old listings will potentially be ripe for any offer of any kind. What is the worst they will do? Say no? Ouch, that really hurts! Don't offer stupid low, as in trying to make a steal. But if it will take a low number to make it work, offer what you can work with minus a bit of negotiating room.

@Lalaine Hagler  Several of these sound like things that should have been taken care of before even showing, let alone moving in a new tenant.

@Luther M.  I would think that the best way to deal with it at this point is to get it under contract with a purchase option with a 6 month expiration and stating that closing will be after Jan 1, if she is ok with that.