4 September 2014 | 4 replies
Quick financial summary below for context: Listing Cost $567,500 25% Down Payment $141,875 Home Improvement $100,000 30 year Mortgage Loan Amount $525,625 APR 4.5% Life of Loan (years) 30 Number of Payments a year 12 Total Number of Payments 360 Payment each Period $2,663 Sum of Payments $958,775 Interest Cost $433,150 Monthly Rent: $4800 currently, Goal is $7200, Expenses: $2400 a month (50% Rule)Issue 1-Potential Bad TenantsOne of the units was absolutely trashed with mouse traps and obvious apathetic tenantsOne of the units looks to be a party house for recent college gradsDo we have any leverage to get these tenants out, both expediting our much needed renovations and getting us higher cash flow from the higher rents.Issue 2- Wooden Box Gutter Rot, Missing Mortar in brickWe're getting estimate on this but it seems to be an expensive fix.Issue 3- Old AC Units/Water HeatersIssue 4- Leaks around windows to interiorprobably ties back to the mortar issues in the brickDo any investors have experience in seeing major issues like this after the initial offer was accepted.
6 September 2014 | 13 replies
You might enjoy it: How to Buy a Small MultiFamily Property: A Step by Step Case StudyOh - and don't forget to set up your Keyword Alerts!
11 September 2014 | 11 replies
People forget that we spent thousands and thousands of years chasing tigers, bears and who knows what out of caves just to secure shelter and now we can buy shelter for little to no money down, but it still is shelter that protects us and our families.
4 September 2014 | 9 replies
Usually the rules of evidence are relaxed so hearsay is allowed and you do not have to lay much foundation for getting evidence in.
6 September 2014 | 7 replies
Don't forget to try running it thru the bigger pockets calculator!
5 September 2014 | 7 replies
And don't forget to get weed control products like Preen into your process; Preen requires that the weeds first be removed (it helps to prevent weed seed from germinating, so roots and all of the weeds must go first).
11 September 2014 | 8 replies
Just so there are no mistakes - it's easy to overbook someone, forget to document a payment, etc.
12 September 2014 | 6 replies
If more info is needed just let me know.ThanksInsulation: $7,000.00 Remove, replace insulation & Ventilation in Attic and Crawl space Converting attic into bedroom, with new insulation Windows & Doors $2,000.00 Add new Sliding door in kitchen replace existing interior and exterior doors $1,800.00 replace garage door $2,500.00 Kitchen $9,000.00 Floors Cabinets Cabinet pulls/knobs Countertops Sink Facet Back splash/tile Electrical outlets Plumbing appliances Bathroom in Bedroom $6,500.00 a.
21 November 2014 | 36 replies
The Quartz counters in the bathroom and kitchen got installed today.Major Structural: -100% New Electrical (Wiring, Faceplates, Switches, Fans, Exterior Panel, LADWP feeds, etc) -100% New Copper Plumbing -New Sewer Drainage pipe to LADWP -Brand New Roof (1st layer, House&Garage) -Brand New Gas Water Heater (and moved from kitchen to outside of house) -All brand new windows -Brand New Doors -New Wood laminate floors throughout entire home -New lawn sprinkler system -Custom landscaping with new sod, colored stone, colored mulch, & plants/trees -New wood fence-Crown Moulding Install-All new baseboard installedEntertainment/Convenience Features: -New pantry -Laundry hookups in garage-LED Lighting & Bulbs Throughout -Whole Home Ethernet (Network) Pre-Wired -Living Room Sound System Pre-Installed (4x 6” Spkrs, 1x 8” Center Spkr, Subwoofer Hookup) -Living room HDMI pre-wired for wall-mount TV -6x Recessed Lights in Living Room -Each bedroom has 4x power outlets minimum -Firepit in backyard -Elevated concrete slab section for BBQKitchen: -Custom tile floor w/ pattern -Cappuccino Wood cabinets -Quartz Stone Slab Counters -Spice Racks -Trash storage drawer -Enclosed Surround for up to 36” Fridge -Recessed light over sink -Dishwasher hookupBathroom: -6ft DUAL Master Vanity -Cappuccino Wood cabinets (matching kitchen) -Quartz Stone Slab Counters (matching kitchen) -6 Storage Drawers plus 2 main under sink storages -4.5ft mirror -Custom tile floor -Custom shower/bathtub tile surround -2 Recessed Nooks w/ Interior Colored Glass
12 September 2014 | 3 replies
Four months into a new lease I have been there three times already.Not a big deal, its usually on the trap arm and not in the main line.I have to go measure the window dimensions for hurricane panels and replace the ac filter anyways.The wife was home.I tested the drains, the left side with the garbage disposer backed up, the right side drain has no issue.