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All Forum Posts by: Bryan H.

Bryan H. has started 73 posts and replied 766 times.

Post: What does it mean if a property is non-finance able?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

Or they want a cash offer because they know it won't appraise for their asking price

Post: Closing on our second rental property

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Therese V.:

Within the next couple of weeks we will be closing on our second rental property! We're so excited to find that second one and have been patient enough for the price to have dropped over time to finally get it for what we want.

Both front and back porch need to be redone, garage and home roof redone, outlets changed to three-prong from 2-prong and painting. Then, we'll be ready to rent it.

Our first property we were able to rent before we even closed. So, the next step will be finding renters. I'm pretty nervous about it, want the right people (but who doesn't?). I'm going to collect an application fee for the background checks and was wondering what sites you guys use.

Any recommendations, suggestions, or general advice on that front?

You can't just swap out the outlets without ensuring they are wired to match. The 3rd prong is for grounding and if the outlet isn't grounded, that's very unsafe and provides a false sense of security for the tenant. They do sell new 2 prong outlets if you want to freshen them up. But only make the switch to 3 if the wiring matches. 

Congrats on making progress in your investing. I just got #5 under contract and have an inspection tomorrow. 

Post: Is it okay to buy and hold in a different state?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

I lived in SE Michigan for most of my life, moved to the Triangle in 2012. I continue to purchase in Michigan because I know the area and have a team in place. 

There are many others on BP that live where they want and invest where it makes sense. I do recommend turnkey rentals if you chose to go this route. 

It also depends on how involved you want to be. For me, I treat it like a 401k retirement fund. I put the money in, reinvest dividends and plan on using it for retirement. I don't actively manage, I don't want to get caught up in the details. This won't work if you must 'control' the property. 

Post: Paint over knotty pine paneling or remove it and sheet rock?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284

'A' neighborhood flip?? No brainer for me, tear it down and drywall. 

Post: Shower tile dilemma - what would you do?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Randy F.:

I would demo the surround, pull the window, install glass block with window insert, install backer and retile. Wood framed/trimmed windows in a shower are a problem gift that keep on giving! Also check to see if fan within tub/shower stall meets code in your area. 

And being that I detest trim at base of tub, Id pull it and if vinyl isnt cut in tight or if its nailed down, Id replace vinyl as well. That just me. And when I see little things like this, I have to question the work that cant be seen. There are just too many little details in a bath... especially in a rental... That make all the difference in preventing water damage and mold. 

Some things I didn't consider, appreciate the things to look out for.

Post: Shower tile dilemma - what would you do?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Nuhan Demirkan:

I'm not sure you can just take out the bullnose and continue with tiling. It looks like drywall above the tile and we usually install tile over a hardie back or concrete board. It is not recommended to instal tile over drywall in a shower.

I agree, We will need to add concrete board before installing new tile.

Post: Shower tile dilemma - what would you do?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Roy N.:
Originally posted by @Bryan H.:
Originally posted by @Eric Knapp:

Not to be a downer, but I would worry more about the window - what do you plan to do with that?

 glass block

 Bryan,

If you going to pull the window, why not just fill it in and replace it with wall (it would be cheaper)?  

I'm a big fan of glass block and we use it for daylight in rooms where the external wall is too close to the property line to allow a window, but I wouldn't use it in a shower.

 I can get a glass block window pretty cheap. And I don't want to get into residing the back of the house.

Post: Shower tile dilemma - what would you do?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @George P.:

U can put tint on that window and would have the privacy. 

Back to the question. .. number 2. It's horrible.  Tear it out please! !!

 Hate it that much? Haha. It's not what I would choose but it's a rental man. It's new. It's clean. 

Post: Shower tile dilemma - what would you do?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Chris K.:

I personally would get some of that FRP shower/wall board and just install it over the rest of the wall. 

 I considered this, but wasn't certain about the look. 

Post: Shower tile dilemma - what would you do?

Bryan H.Posted
  • Investor
  • Willow Spring, NC
  • Posts 788
  • Votes 284
Originally posted by @Mark Gallagher:

It is going to be a rental? What about a second shower curtain rod, and put a clear liner on the window wall. Still lets in light, prevents wall damage. $10 Fix until you need/want to remodel. 

Leaves too much on the tenant to make sure the curtain is in place, plus it doesn't protect the walls.  I want to make it nice, but at the same time 'harden' the place so it will stand up to tenants.