All Forum Posts by: Alan Mills

@Bill B. Yep. Full plumbing redo. GC walked off the job. Checking now with regional building to confirm what is required.

@Bill B. Yes, we pretty much plumbed the whole house. Thanks.

@Chris Seveney thank you.

Got an inspection objection back with something I’ve not seen on my other rehab’s (this is a Colorado property):

“The seller agrees to have a licensed plumber install external sewer cleanouts per city code and scope the sewer line ensuring its integrity.”

This was a full interior/gut rehab and almost everything is brand new. Yes, sewer clean outs are required on new construction, but on a 1947 rehab house that didn’t have existing clean outs, is it really possible that I can be required to install them? Yes, I’ll check with regional building, but curious for additional thoughts here.

The code being cited by the inspector is below if you care to bother.

Thank you.

https://codes.iccsafe.org/content/IPC2021P3/chapter-7-sanitary-drainage#IPC2021P3_Ch07_Sec708

I'm under contract with my latest flip, the proceeds of which will pay off the heloc that I use to buy and rehab properties. My biggest problem is contractors who can't keep a timeline, and that's really slowing me down. So I'd like to hear your strategies on the best ways (safer ways?) to get more than one - or even more than two? - properties going at a time as a sort of hedge against 1 contractor holding me back on 1 property rehab. It seems like it would be great to flip one property while planning on getting another one ready to add to my rental holdings. Because cashing out properties now takes 12 months on title, brrrring has gotten a lot slower for me. Should I just DSCR my way into two properties? Thanks for your thoughts. Please, no solicitations.

I know it’s an often visited topic, but I would be interested in receiving private messages from those of you who currently offer no money down options for fix & flip and fix & hold investing. I would just like to scale up and the capital that I have isn’t enough to move as quickly as I’d like to acquire properties, so looking for other options. Thanks very much for your help.

Seeking an experienced lender who can hook me up with some DSCR lending or other financial options in Colorado to help me step up acquisitions. Would like help doing fix & flip and also fix & hold. Would appreciate little or no seasoning to cash out. Would be great to be working several properties at once instead of doing one at a time. Please reach out with the details of your terms. Would love to hear from lender investors and others who can not just help me funds deals, but who can also help me strategize pathways forward. If everything looks great, then let's jump on a call. Thanks! Alan

@Mitch Messer

Thanks for your thoughts. You are exactly right regarding collecting the money. I would have to file suit which requires in person service. And I am aware of that even if I do get a judgment, that I would hire a collections company that would likely take 40% of anything collected. Yes, after I get the property ready to show to perspective tenets, I will work quickly to get it filled. Only after that time would I then look and do trying to recover losses. But I completely get it, that moving on is most likely what will end up happening in the end. this isn’t my first election, and was just looking for thoughts to see if other people approach these things different ways, so I appreciate your help today. 

@Teri Feeney Styers

Thanks for your thoughts. I got lucky on this one. He vacated it yesterday and left the key behind. But yes, I did receive the writ of restitution and delivered it to the sheriff and had been waiting to hear from them to schedule the eviction. I also got lucky and found a group of people to help me with the eviction, as the sheriff requires a minimum of eight people to do the eviction when it takes place. So I’m happy to save on those costs. Many years ago when I did my first eviction, I did hire an attorney, and to my recollection, it was well over $5000 to do it that way. At this point, and after all of the final numbers are in, I will need to be able to serve him in person to be able to sue him for lost rents and damages. So tracking him down to get that service will be the trick. Thanks again for your help.

After another break in, I’m looking for up-to-date info regarding video surveillance during rehabs. I’ve been looking into both WiFi and cellular options, but couldn’t find what it would cost for cellular. This is my wish list:

- Several cameras, perhaps at least 4?

- Motion trigger activation, and I’d prefer if it would record longer than 30 seconds when triggered

- The ability to download and store videos

- Real time notification on my phone when camera is triggered - similar to my Ring doorbell I use at my home

- Cameras record both video and AUDIO

- My ability to talk to people through the cameras would be a bonus

- Night vision for outside cameras a bonus

- Ability to remotely swivel horizontally - and vertically? - also a bonus

- Alarm for outdoor cameras also a bonus

- It would also be great to be able to temporarily disable them when I have contractors working the job so I don’t end up with hours of people continuously triggering cameras

Having said all of this, if there is a system that you like for any reasons at all - and regardless of my wish list - please let me know why I should consider it.

Thanks very much!

Alan

I’d like to be able to set up several cameras - perhaps at least 4 -