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All Forum Posts by: Ben Crego

Ben Crego has started 10 posts and replied 32 times.

Post: Cast Iron Plumbing

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11
Quote from @Guy Gimenez:

Cost was $10K and $6K respectively. One took 3 days and the other took 2 days. Cost will be location dependent.

Were you gutting the house anyways or does that include putting the walls/flooring/shower back?

Post: Below market but house has bad cast iron plumbing

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11
Quote from @Ben Owens:
It depends on how hard it is to get to the cast and if you have to replace with cast. 14k seems high to me, unless there is digging into dirt, or significantly into walls and, or cast replacement. I have seen most vertical cast being much more resilient than horizontal. I'd get another quote if the cast is mostly exposed and, or you could replace with PVC.

The plumbing above ground was replaced, it’s just below ground. The bathrooms share a wall, and the kitchen and laundry each are on exterior walls. I will get a few more quotes before doing anything if we do go the route of buying.

Post: Cast Iron Plumbing

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11
Quote from @Guy Gimenez:

Offer $125K. You're receiving no credit for the hassle of the reroute and the acceptance of other risks associated with same. And the seller will have to find another buyer who is willing to accept this same risk if you decide to walk. We just completed reroutes on 2 houses and there are always surprises. 


 What did those two reroutes each cost at the end of the day (excluding carrying costs) and how long did each take?

Post: Below market but house has bad cast iron plumbing

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11

Hi, I am under contract on a house for $252,250 off market. I’m about 20-40 below market depending on your comps. The house looks great and the inspector only flagged a few little issues; but I had a plumber scope it and he said the cast iron is terrible (bellying, corroded, etc). The seller is only willing to drop to 250. The 1 plumbers quote to do a plumbing replacement without putting all the cosmetics back is $14,000. 

Plumber had technical difficulties twice and didn’t record but two guys both said plumbing looks terrible. I worked with this plumber one other time on another property. He was very good and consistent with his google reviews.


What would you do?

Post: STR Ogden / Eden Utah

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11

Hi, did you end up buying in the Ogden/Eden area?

Post: Damage caused by all-star tenant

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11

@Max T., I’d eat the cost. Sounds like you’re tenants were reasonable, notified you promptly, and there’s no evidence they caused the backup. Stuff happens.

Post: First property closed and leased

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11

@Nathan G., all legit issues. We’ve had some repairs, but fortunately our tenants have been very respectful.

Post: First property closed and leased

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11

@Carl W., sorry for the slow reply. The realtor that helped me buy it listed it on the MLS and then I screened the tenant and signed the lease through Zillow Property Manager. I would have listed it through Zillow too but I'm not local so I needed help with the showings.

Post: First flip $70k PROFIT!!!

Ben CregoPosted
  • Fort Lauderdale, FL
  • Posts 32
  • Votes 11

@Theodore Renka, congrats. How did you come up with the rehab money (sorry if I missed that) aside from Home Depot financing the roof and siding?

@Nathan G. Zillow was way off! We listed at $1700 after watching the market. We had solid interest and quickly secured what seems like great tenants.