Due Diligence - Title Work
Thursday, May 30
Received the title commitment draft yesterday and it has two interesting things in it. The first is a lien, by an auto company, against what appears to be a prior tenant but against the property. Not sure how that happened, I'm guessing fraud but the whole experience is new to me so not complet...
The Neighborhood
Sunday, May 26
As is natural in the due diligence process, many of my prior posts have been about the problems we are encountering. They are not unexpected but they do start to feel like they're adding up after a while.On the bright side, every time I walk the properties, I feel better about the neighborhood. ...
Foundations
Friday, May 24
Because every day is a new adventure, today we looked at foundations. We knew one property was in pretty deteriorated condition and wanted to know the minimum and maximum range of deeply scary possibilities. It wasn't an auspicious beginning when the structural engineer said, skeptically, "you...
Rain, Rent, and Utilities
Wednesday, May 22
This grouping of properties includes 3 lots of solid B class properties in a very acceptable and currently rebounding neighborhood. There is one A class property in a well regarded historic neighborhood. It's in 'my' territory so I am comfortable with and knowledgeable of the area. I actually li...
Nuts-n-Bolts
Monday, May 20
Figurative nuts-n-bolts. As previously mentioned, I intend for this to be a free-standing company, separate from our other investment properties. Therefore, I am creating a new LLC, need new bank accounts, post office box, etc. Meanwhile, out in the field, inspection and other work is starting...
Back from Chicago
Saturday, May 18
Back from Chicago and happy to be physically present for the rest of this project.I have the quotes for insurance, good news there, a total of about $700.00/year less than planned, everything is insurable except the roof on one duplex which we were planning to replace anyway. Given our hail situ...