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Updated about 9 years ago on . Most recent reply

User Stats

12
Posts
3
Votes
Clint Morgan
  • Washington, IN
3
Votes |
12
Posts

First rental property is nickel and diming me!

Clint Morgan
  • Washington, IN
Posted

I closed on a property a week and a half ago. The roof had two spots that leaked and part of the purchase agreement was that had to be repaired. I was told it was but it was not. So I am in the process of finding someone to make the repairs. It seems nobody wants to mess with metal roofs in Southern indiana. The rest of the stuff is just little things adding up. Finishing trim work. Painting. Rock for the drive. Landscaping needs finished up. I bet I have another 4k in it after its all said and done. It will take quite some time to make that money back. Is this normal? I feel it probably is.

Most Popular Reply

User Stats

111
Posts
41
Votes
David Cowan
  • Investor
  • Twinsburg, OH
41
Votes |
111
Posts
David Cowan
  • Investor
  • Twinsburg, OH
Replied

@Clint Morgan So sorry you're having to deal with that! Here's something to consider- there's a company called Legal Shield (formerly known as Prepaid Legal Services). Check them out. They are prescription-based and the monthly memberships are very cheap (under $30/month) and for your membership fee they connect you with a law firm in your area and you are able to talk to someone about your particular issue and possibly come up with a workable solution. Worth a shot for under $30 to see if they can help you find a solution. Just google them. If it works out, you can save yourself some money on things your seller was contractually obligated to fix. Good luck!

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