All Forum Posts by: Zach Schwarzmiller

thank you!

I won't blow smoke but I wanted to have some idea of prep, I won't be lying to anyone - that is for sure.

Are you referring to all the patches? I really have no idea. I just closed on this building 5/31 and took the unit back from a non-rent paying hoarder 2 days ago. It looks like it was patched all over though.

Thank you for that info!

I have no contractor, and I am looking to do the prep myself, what should I do to prep the walls myself before having the texture guy come?

Finally took back my unit through the abandonment process! Now my walls are nice and messed up and I need to get someone in there to re-texture. I found a handyman on Craigslist I am going to meet with tonight and see how he seems. Said he's done tons of this and sounds pretty knowledgeable.

Anyways, he asked me if the walls had already been prepped and I didn't want to ask him what needs to be done as I want to sound knowledgeable when I meet him so he doesn't think I don't know anything (which I really don't) and take advantage of me on pricing.

AH! Another good question: What is a fair price to pay for a re-texturing of walls in a 3 Bed 2.5 Bath 1,250SF unit?

Anyways, what do I need to do in order to be "Prepared" for the Re-Texturing of these walls? I am hoping to have him start tomorrow afternoon so perhaps I need to devote my entire evening to this.

Any advise would be GREATLY appreciated. I am a numbers guy, I have a lot to learn about physical maintenance of property! IRR, NPV, DCF, got it... How to prep a dang wall -- Could use some advise. :)

THANK YOU!

Here is a photo of the wall:

https://www.dropbox.com/s/yfrihv9c9gyzh2b/P1020356.JPG

Photo's of entire unit if anyone has any other suggestions:

https://www.dropbox.com/sh/tzxq6faapr8y7ww/KRGSqoMbuP

I just purchased a triplex in Snohomish and helping my friend purchase the one across the street. Also may be developing a house on another lot nearby. Point being, I have random maintenance needs and am looking for a recommendation on a local handyman in the area. Does anyone know of anyone in Snohomish County I can begin a long loyal relationship with?

Immediately I need my walls re-textured!

welcome kevin! it's hard to find foreclosed MF's within Snohomish/King County. I've sold a few in Spokane/Lakewood/Aberdeen, other outside areas recently but haven't had many come across within the local area here. Sometimes they are purchased through trustee sales before ever getting a chance to hit the market also. Last year there were a few nice ones in Edmonds area, I haven't seen anything nice in 2013 yet

Casey,

One thing worth considering could be taking advantage of your VA loan to purchase a four-plex to owner occupy one unit and rent out the other three. After 1 year you could sell and 1031 into another building (tax deferred exchange) or whatever, but this would give you sometime to learn about other methods of RE investment and provide a wonderful opportunity to use your VA loan.

welcome Stephanie!!

Washington State is different as well. If you have a default in rent and words and/or actions indicating they have abandoned the property you can move in and claim an abandonment. If there is over 250 dollars worth of personal property left you have to store it for ~7 days (can charge reasonable storage fee) if more its something like 45 days. I am going through this process with a hoarder rite now what a pain.