All Forum Posts by: Alex Tang

Thanks for the advice.  I had heard that leaving the slab and rough plumbing would raise the sale value of the land because those are costs that a developer won't have to incur.  But Chris, to your point, I've also heard that it's better to remove everything and have a clean slate of land for a developer to work on.  Conflicting things that I've heard

Hello,

One of my rentals was heavily damaged in a fire.  It's a 1500-1600 sq ft home on maybe half an acre of land.  Looks like the slab is in good shape.  I am going to demolition the home rather than rebuild it because the costs is well above my insurance settlement.  Question, is it better to keep the concrete slab and rough plumbing or demo that too?  I plan to sell the land and which option would maximize my value?

Thanks

Alex

Quote from @John Morgan:

@Alex Tang

I just had a major fire in one of my rentals in December. If the cost of rehabbing it is more than it’s insured for, they’ll just cut me a check for what it’s insured for minus the $2,500 deductible. I want to rebuild but the cost will most likely exceed what it’s worth.

 Hi John,

I decided to just demo my home because the gap between my insurance coverage and the rebuild estimates that Im getting is just too large.  Are you keeping the slab on your home or will you demo that too?  Im trying to decide is it better to keep the slab or have an untouched piece of land.

Thanks, Alex

One of my rentals was heavily damaged by a fire after Thanksgiving.  Looking my insurance policy it mentions that I can opt for settlement under Actual Cash Value vs Replacement Cost.  The itemized damage estimate that my insurance provided me lists an Actual Cash Value that is 15% higher than my Dwelling A Coverage.  That means I can ask my insurance to pay me the higher Actual Cash Value instead of the Dwelling A Coverage?  

Hello,

One of my single family rentals that is outside of Atlanta, was heavily damage in a fire and most likely would require a full rebuild.  If anyone has experience with this, especially in dealing with insurance, I would love to chat offline.  

Thanks

Alex

I just wanted to post an update.  I found an attorney who works on a fixed fee rather than per hour.  I did take the ex tenant to court and the judge ruled in my favor, albeit for a smaller amount than what I was looking for.  An interesting thing about Georgia regarding the security deposit is a different standard of care applies to landlords who own less than 10 units.

Hello,

I have a single family rental outside of Atlanta that was heavily damaged by a fire.  Does anyone have recommendations or can steer me where to find a local independent claims adjuster? I want someone to represent me in case my home owners insurance tries to low ball the payout.

Thanks

Alex

The damages were over $8,000 in excess of the security deposit.  I am not necessarily looking to retain an attorney but to discuss how strong my case is or isnt

Hello,

I am an out of state investor who owns a few SFR's outside of Atlanta ( Fayette/Coweta counties to be specific ). I am in a dispute with an ex-tenant over excess damages caused to my property during his stay. I am looking for referrals/recommendations for attorneys who specialize in tenant/landlord disputes. Thanks

Alex

Hello,

I am an out of state investor in SFR's in the greater Atlanta area ( specifically Fayette/Coweta Counties ). I am in a dispute w/ an ex-tenant over excess damage caused to my property during his stay. I would like to speak w/ an attorney who specializes in tenant/landlord disputes. Does anyone have any referrals or recommendations? Thanks