All Forum Posts by: Aaron Wyssmann

There are some great answers here but then some I don't like. What you paid for it is completely irrelevant and as many have stated all that matters is what its value currently is. What I don't like is saying things like "I had to do all this work" when you really didn't.  Maybe no one would ever know but it is simply a matter of integrity, don't go down the road of "sugar coating" things just to make things easier.   If your comps are correct you should have no problem selling it. 

Wow. I thank you for all the great input. @Aaron McGinnis I especially thank you for calling my entire character into question over this one issue, that seems reasonable. Yes maybe I didn't do enough research and for that I apologize, promise I'll do better next time.  I stand corrected. 

Now that I've been enlightened on electrical and I'm glad I learned something today, would anyone else like to share some crazy things they've seen in homes?

@Richard C. Well no, I could do the project.  How many homes across the country don't have a ground at every outlet or for that matter still have knob & tube wiring.  Sure they don't meet current building codes but they function just fine as a safe home.  Matter of fact the first home I bought to live in personally still had the old knob & tube wiring.  Not to mention that our real estate contract states that the home I was selling does not have to be up to current building codes, in some cases that would be impossible.

@Nathan Brooks Ok, ok you got me there.  Not quite as exciting as actually being in the shower. :)

@Aaron McGinnis Those are definitely some bad ones. 

On the topic of the ungrounded wire in a 3 prong outlet, I've had to do that very thing.  I renovated a home and it was going to cost $1800 to run the correct ground through the place and there was no way I had that in the budget.  I installed GFCIs in the correct locations but of course there weren't grounded.  I had to run an extra loop off the neutral to make it work.  I know that's not correct and I wish I could have done it the correct way but just couldn't.

Ok, so I know that there is no way this meets code but I saw this in a possible investment home yesterday and I had to share. Just think, you could take a shower and plug in your hair dryer and then if the breaker happens to flip you could reach over and flip it back on...not a good idea!

Reminds me of @Nathan Brooks story he told on Podcast 87.  It's just crazy what people do.  You can read the story here...http://www.biggerpockets.com/renewsblog/2014/09/03/art-saying-house-literally-kill-somebody/

Sorry, you'll have to turn your head.  On my computer the image is vertical but after trying to load it several times it loads here on BP sideways.  

So if you've got some crazy pics of houses you've seen I'd love to see them as well.  Share them with me.

Thanks to you all.  This helps a bunch.

@Sam Leon Wow that is some detail.  I really like all that.  Some doesn't apply to where we live but some great suggestions.  Thanks.

@Russ M. I like the idea of giving the contact numbers.  Thanks

@Michael Quarles Wow that's pretty extensive process.  I like it but don't quite have the time for all of that.  It does take about an hour to go over our lease section by section.  Maybe "homework" was a bad word but more of a take away sheet knowing the vital information so they can move in on time.

Thanks so much for the great responses.  Now I just get to implement them :)

@J. Martin Thanks I'll check in with her.

I know that on one of the podcasts I heard @Brandon Turner mention giving his tenants a homework sheet or something of that nature.

For example it might have on it that they must have utilities on in their name before we give them keys.  They will have five days to identify and take pictures of any issues they want to note as pre-existing.  Etc.

Does anyone know if that is a thread somewhere out here already?

Also if I'm going to create one from scratch, what might be some good things to put on a form to hand the tenants at lease signing?