All Forum Posts by: Steve M.

+1 ...

You might be best just to buy a steam cleaner. We did, and it paid for itself within 2-3 sessions :)

Dishwasher Soap & Vinegar normally gets the job done :)

I'm not entirely sure what you mean with the question?

For me, I had to jump in with both feet before I fully knew/understood the cost. You could try having a GC come out and bid on what needs to be done prior to a contract on the house. Or if you wanted to act as the GC, bring in Subs to bid it out prior to contract.

I *thought* I knew what certain things would cost ... But as you can imagine, I lowballed most items on the checklist on the first flip. I now can fully grasp everything and I have bids from several different contracts (from electricians, to plumbers) for certain things.

Same here in Tennessee.

HUD homes are going for retail. Foreclosures MAYBE 5% ... And they are getting bought up quick.

Tim, happy to help.

We bought out from a USA Manufacturer of Ozone Generators in Ohio.

This is the EXACT one we have:
http://www.ebay.com/itm/OZ-5000-Ozone-Generator-Great-for-Rental-Properties-Hotels-Air-Purifier-/290802724699?pt=LH_DefaultDomain_0&hash=item43b5316f5b

I prefer postal money order's personally. I certainly wouldn't take a personal check.

Perhaps its an isolated Washington issue, seeing as both you Charles and Rob are in/near Seattle.

Haven't had said issues here in TN.

Hey Kristine,

I apologize for missing your question previously.

We use the 10mm backed laminate from Sam's Club. $1.50/sq foot and it looks/feels great. It's quiet, pretty sturdy, and looks great.

Couple things I've learned with a rental burning down just a couple months back.

1) Its better to have TOO much insurance, than not enough.
2) I prefer Replacement Value Policy's, and make sure, you actually (or more-so, your agent) uses a *real* replacement value on the policy.
3) Make sure you have Lost Rent & Tear down on the Policy. I think I paid an extra $9-$10 per month for Lost Rent.

Not much of a blog reader myself, although my wife even has one! LOL ...

Some good pointers in there as well. Although her pricing on Ozone Generators is a bit *out there*! Thanks for posting Steve

You bring up a good point -- Don't just have 1 exit strategy :) As stated, this was purchased to be a rental, luckily -- Exit strategy B worked out.

Looking back at the purchase now, there are quite a few things I would have done differently. But, as stated, it was very much a learning experience, and coming out of it with all my teeth, is icing on the cake!

Depends on the length of time the property has been listed.

Assuming it hasn't been listed long, we'll sometimes see bids ABOVE and BEYOND what the actual listed price is.

HUD is funny sometimes.

Example: List Price $100k

Owner Occupant Bids: $95k
Investor/Non OO Bids: $105k

HUD will take the OO Bid over the Non OO Bid.

Lowest I have seen HUD go in these parts is around 91/92% of list.