All Forum Posts by: Austin F.

"It seems that this rental unit is not up to your standards, I would like to give you this opportunity to break your lease early and still be eligible for your security deposit return. Please contact me immediately so you can find housing that is more to your standards."

Quote from @Kerry Noble Jr:

What you could emphasize to them owner is that you holding the deed would allow for you to refi and put bank financing on the property at some point before the terms and you could potentially pay them off sooner

Can I not do that with a land contract?

Have a deal on the table where the owner is open to a land contract with fairly generous terms (march close, 3%, 30 year am, 10 or 20 year balloon 20% down.

I am not super familiar with land contracts, but I know they differ from owner financing in that in an LC the owner holds the title and the 'note'. I would greatly prefer to do traditional owner finance where I hold the deed and the owner holds the lien, clean and easy.

The question is, is there a big enough material difference between OF and LC to try and change the owners mind?

Follow up: What could I say to convince the owner that OF is the better way to go?

I would say the switch from good condition copper to pex would be a good "because I have the tools, the time, and its already open" I wouldn't dig out copper to replace with pex. That said I also would do an all or nothing approach, I personally wouldn't want to bury a pex to copper sharkbite in a wall somewhere. 


I did crimp ring pex for a few jobs, and recently switched to expansion fitting pex and its life changing. Got the M12 expander tool too. So much easier, and I trust the connections way more, its faster, and easier to get the tool in tight spaces like joists or odd bends. I also went to the hardware store and got a packout box and filled it with the common fittings (and a few odd ones) and rings so I wasn't constantly having to dig around for the right fitting. Cost $250 and saved me hours of messing around on the first small job.

Installation of a ridge vent is not limited by number of layers.

I'm not an STR operator, but I do operate student rentals.

I would NOT want students in anything STR grade. My student rentals are B- properties and they get beat up on the regular. With higher end finishings and cleanliness requirements you would be pulling your hair (and wallet) out every turnover.

You would have to put personal money in. The way I would look at it is you can use the HELOC to buy a property NOW instead of having to save to however many years. Once you own that property you use your personal money you would have had to save anyways, AND the cashflow to pay down the HELOC.

Eventually you have enough cash flow to rapidly pay down the HELOC and can acquire even more properties whose cash flow you can use for lifestyle expenses.

Its a slow road, but the first one is the hardest. After you have a few cashflowing properties the snowball is real.

I just spent 6 months ski bumming in Utah. Now I'm back home and 'working'. Moved in a new tenant today, they nitpicked a few small items so I have to go take care of that tomorrow at some point. It was warm today so I had a margarita and went for a hike. Tomorrow I'll go for a mountain bike ride in the morning before it gets hot, then go fix an outlet. Wednesday I'm doing a contractor walk through. Pretty busy week actually. 

I'd fix the gate, most likely by moving or adjusting the latch for like 20 bucks or something. Everything else is a gross over reaction.

This is a domestic situation that the police need to handle. Do not get involved unless it is to evict her for violating her lease.