All Forum Posts by: Blair Poelman

It is reasonable to expect it is coming from another unity, but even if the tenants appear to be clean people they might leave food out all the time.  

Typically rodents and pests live where there is a food source.  Eliminating the food source is the first step to solving the problem.

A bathroom fan is probably going to produce very little, if any results at all, and it is never a good idea to vent anything into your attic -dry or otherwise. 

The best move would be to hire an HVAC contractor to come look at the structure and flow of the entire house.  There are things you can do to create some circulation without installing central air.  When you need to cool even a small bedroom room, you need to move a whole lot more CFM than what a bathroom fan will ever do.  

I wouldn't expect any substantial discount based on the house having asbestos - especially in this market.  Even a semi-smart seller is going to reject any kind of discount simply based on the house having asbestos.  There's enough demand right now that the seller would rather have you cancel and the next person will come along this weekend and probably not care about asbestos.

It's safe to assume that if a house was built between the 1930's and the 70's some kind of asbestos-containing product was used in the construction.

Also keep in mind that if you get it tested and there is asbestos (i.e. you know about), you must disclose that fact when you sell it down the road.  If the asbestos-containing product or surface is in good shape, the mere existence is not nearly as big of an issue as most think it is.  If the surface is degrading and chipping away, or is starting to flake and get dusty then it is a problem.

Lead paint is inevitable - it's not a big deal, there is a proper way to deal with it and it's relatively simple.

kitchen color is a heavy influenced by trend.  Right now that trend is white. 

But remember that history repeats itself, so pretty soon we'll be back to that classy lime green of 1977.

Holding a property in an LLC really doesn't do much good or offer any substantial protections or benefits unless you also have a fully comprehensive estate planning strategy that incorporates your entire financial life and all your assets / business / debts / etc.... Estate planning can be expensive, but if done properly it is worth the money and effort.

There are definitely benefits of using the LLC - but simply vesting the title to your LLC is not going to stop somebody from coming after you personally.

There are a lot of red flags here - not only from the original question, but from several of the subsequent comments.  

@Armando DeGuzman  I am in no way trying to be derogatory or rude, so please don't take this as such, but one of the many "#1 rules" in this business is "don't get involved in a deal that you do not fully understand".  It is clear that you don't understand your proposed deal, and it appears the lender does not understand their rights, capabilities, or restrictions when it comes to foreclosure.

I've seen lots of people lose a whole lot of money in this business by getting involved in deals that they didn't understand - both good and bad deals.  This business is risky enough when you know what you're doing, when you don't know what you're doing that risk is exponentially greater.  And when you are dealing with other people who also don't know what they're doing, a good deal can (and often times does) turn into a complete s**tshow

Bank owned SFR rehab opportunity. Buy wholesale at $69,000.

Please contact me directly for more information.

Blair Poelman.  385-208-2666.

@Venkat S.  pardon my ignorance, but you're in Jacksonville and I've done multiple deals in Jacksonville - there is an abundance of opportunity there and I have done very well in that town.  Why did you go all the way to Memphis instead of just doing a deal in your own back yard?

kinda sucks, but @Andrew B. is very likely correct.

The term "inherited tenant" is very often followed by the word "problems".

Looks high - but the personal injury and loss of rent riders will always bump the rates up a bit.