All Forum Posts by: Vivian D.

Thanks to @Michael Evans and @Jason Hirko.  The first plumber says the moisture absorbed into the sheetrock behind the tile, and mold came from there. My second opinion guy came in, pressed against the tiles and says it should have been soft to push if the sheetrock was water-damaged. Sounds more believable to me than a mere look like the first guy. Certainly the best way to know it's by removing a tile, but the house is not mine yet to do so. I go ahead closing on it. 

Exactly what I was going to say. Consider risks, rewards, and incentives clearly for both of you entering the deal. what can ensure 100% your not screw you up this time. you have too much to loose. good luck finding a better partner.

Thanks @Michael Evans. It's concrete slab. I am not familiar with fiberglass shower but will it work for a $170-$200K neighborhood homes with target rent $1600/mo?  Is there anyway we can find out if the sheet rock behind the tile is water damaged or not, to decide if it's worth pursuing the deal? 

We had a plumber came out check the drain of a rental we had under contract, already passed option period just waiting to close. He found one leak that could cost us $1800 to fix (after we fix the foundation first). One hard punch. We did not have that in our calculation. Since we do not want to loose the EM and all the money spent on the house so far (option fee $100, inspection $450, and plumbing check $225), we thought to ourselves oh well, let's just go ahead. But then what the plumber said about the shower turn us totally off.

According to him, all the mold on the surface came from the moisture inside the sheet rock. As the house was built in 1989 and the way the shower pan came so low, he suspect there was leak below as well. So he recommends to remove everything to put in concrete wall & shower liner make sure no leak after. Even though his estimate could be too high (4-5K for the whole job) and we have not shopped for better quote, we would want to check with BP experts if it is actually necessary to remove everything. Just by the outside look, do you think it is that bad? Can't we just do a really good job of cleaning & get rid of the mold if you tell me that's not leaking evidence? Cause if he is right, we just gonna walk away from the house since there is no point to get back to seller ask for discount due to this new findings. Or can we?

Thanks in advance for all inputs!!!

Thanks Roger! We are now under contract for a property which will be a second buy and hold for us. We are now in day 1 within option period. The market now is high, but we figure out a few months rent will offset the higher purchase price. Appreciation for the area is not high, but not many rentals available and new lease listing sold for within a month of 6 weeks. We will have the inspector coming out this Thursday. 

Hi BP-ers, as a buy and hold, should I buy into an area (within a mile) with 50% renter? One can argue strong competition, but another can say people just cannot afford a home so they stay renters. What else should I also look into for consideration? Waiting for your advice with much thanks! 

I would remove the wall too! Please post the after pics, thanks!

great after pics! Congrats on the flip! I like the flooring in the bathroom. Looks like vinyl to me, or is it a type of tile? Do you remember the brand name, and where you'd get it? Many thanks!

Thanks @Jerry Ta for your recommendations. I'll definitely reach out to @Waylon Themer.

Hi all, so I have been listening to podcasts where investors mentioned how some portfolio/local banks will provide them with better loan options (more loans, more flexibility, lower down payment, etc.). For that to happen, they insist in having good long relationship with the bank, which might take years.  

I am just starting out with one rental under my belt but am looking forward to more in the future.  To better my position when the time comes, I'd like to start building relationship with a local bank here in Houston that provide support to investors. Hence if anyone has one that they have success doing business with, please share. Thank you so much!