All Forum Posts by: Chris Seveney

Hello. I bought a jackrabbit cabin during the pandemic. It's a cinderblock shell on 5 acres of sand. It had no utilities or septic, so I proceeded to follow all the steps - I've since paid for and completed all the County required tests and have approved building plans. My little pink gem is about 380 square feet. The plans include installing a septic system, water and power, and creating a living space inside with a kitchen, bathroom and living room (studio apartment). 

The water meter alone will cost about $17k. I don't know the charge for an electric meter, prices for actually bringing water and power from the meters to the house, or any of the building costs. I overpaid for the property ($90k) and have spent more than I care to mention on the architect, permitting, PERC test, and miscellaneous fees... My mind tells me to just walk away, sell it for whatever I can get, and take the write off over the next several years. But part of me says to hang onto it, finish the job, and offer it as a long-term rental. 

It's a lot to figure out money-wise and I'm not sure I'm qualified to do the math... what would you do? 

I purchased the land from an individual mortgage company and paid cash for the home. I honestly do not know of any closing documentation wherein I agreed to pay POA dues. Good advice, however. Possibly Monday, I should contact the mortgage company and ask. Thank you!

missing Chimney flue liner and missing rain cap; significnt shingle granule loss, missing drip edge flashing, vent pipe flashing missing, cabinet handle missing, siding pieces missing, gutter down spot missing, Old wood/aluminum windows, prior water penetration observed (Efflorescense),

National institutional investors have begun showing increased interest in Alabama markets, particularly Birmingham and Huntsville, following their saturation in larger Southeastern markets. Data indicates a 35% year-over-year increase in institutional acquisitions, though from a small base representing only 10% of total distressed property transactions. This expanding institutional presence is introducing more sophisticated acquisition criteria, data-driven valuation methodologies, and standardized rehabilitation practices that are gradually professionalizing the market. If current trends continue, institutional market share could reach 20-25% within three years, fundamentally altering competitive dynamics for local operators.

What are the strategies people are taking to invest in the current overinflated market of Florida through the insurance crisis?

I want to share a cautionary experience in case it helps others avoid the same headache.

I hired a general contractor (GC) here in Tucson, Arizona for a cosmetic remodel on my property. Before we started, I specifically asked him if a permit was needed. He said no, claiming that since we weren’t adding rooms, moving plumbing, or breaking down walls, it wasn’t required. He also said he was licensed for both residential and commercial work.

He seemed professional at first, and I paid a 33% deposit upfront. But soon after the project began, he started asking for more money before finishing major parts of the job. I ended up paying almost the full amount before realizing something wasn’t right.

Then a city inspector stopped by randomly and issued a stop work order, saying the work did require a permit. That’s when things fell apart. The GC became uncooperative, wouldn’t assist with the permit application, and once I obtained the permit myself, he refused to be listed as the GC and completely ghosted me.

I then consulted another GC, who helped me confirm that this person is not licensed at all, despite his earlier claims. I have since filed a complaint with the Arizona Registrar of Contractors (AZ ROC). They confirmed he is unlicensed and have opened an investigation.

Luckily, I paid with a credit card. I’m currently disputing the charges, and the credit card company has frozen the funds while it’s under review. They told me if the contractor can’t prove he did the work as agreed, I may be able to recover the money.

I also learned that because he’s unlicensed and abandoned the project, he likely can’t place a mechanic’s lien on my property.