All Forum Posts by: Bryan R.

I've got a flip with an existing hot tub on the deck. I can probably repair it and get a new cover for $500-800. Alternatively I can get rid of it for ~$100. 

Thoughts on value of a hot tub? Worth the money to keep?

@Tom Lowe

Best you can do is proceed with the eviction. Often when they get served it is a wakeup call. Negotiating an exit is all well and good, but keep the eviction process moving forward. All too frequently planned exits fall apart. 

Try visiting the property in the late afternoon or evening to make contact. 

Depends on what the market dictates and what you're working with. 

If it is real bad carpet and pad can cover a lot of problems. Self leveler is great too for smoothing out areas. I don't think products are the solution really. Best to get the surface in decent condition so you can put whatever on top. Maybe large format tile or hardwood levels aren't achievable. But should be able to get good enough to put most stuff down.

When I have the option on I like to run a nice laminate throughout most of a house and then tile or vinyl in the baths/utility depending on price point. 

@James Lusk

That area is known as Tillicum. Not the greatest area, strong base influence. I-5 is the only way in and out right now too, though they are building an additional access route (albeit slowly). 

Familiarize yourself with the sewer connection rules and if they will impact the property: https://www.cityoflakewood.us/documents/public_wor...

The GC you hired should have provided you with a disclosure regarding bonds and liens pursuant to RCW 18.27.114.  It should have been similar to this: http://www.lni.wa.gov/formpub/Detail.asp?DocID=187...

You can find out more about the lien process in Washington here: http://www.lni.wa.gov/formpub/Detail.asp?DocID=187...

I tried Shoeboxed for awhile, but found the UI not great for managing multiple projects from multiple entities. I think for someone with a simpler setup it may work.

Currently I just do Evernote and Quickbooks. It's clunky, but it works.

Powderpost beetle treatment costs a bit more than other pest treatments, it requires some expensive chemicals. I think last time I had it done it was around $500. 

Structurally it just depends on how significant the infestation is. Could be simple, could be extensive.

Foreclosure auctions are hyper competitive right now. I find it hard to buy down there. There are better deals on the MLS even.

As for data and title work. That really depends on how many properties you're looking at, what your title relationship is like, and how comfortable you are looking at records yourself. 

If you're high volume, looking at a ton of properties every week, or not so strong on the title end you're probably best off using an auction service.

If you're only doing a smaller volume and comfortable with title work you may be able to DIY.

Most people down at the auction are using one of the services. Because either 1. They don't know how to do it themselves or 2. They are high volume and don't have the time and resources to pull title on 100+ properties a week.

I don't know about it being illegal. Just not very common because of excise tax.

It is going to vary somewhat between lenders and appraisers. Some adhere more closely to FHA guidelines than others. And the lower the appraisal rating the smaller the lender pool. I would shop lenders to find one that will work with you.

203b is another option. I'm doing one right now with plumbing issues (among others) where 203b was the easiest option. And even then the first appraiser wouldn't play ball without the water being turned on, but lender was able to use another one that was fine with that.

Standard things most lenders seem to want: Most health and safety items. All systems intact and operational. Plumbing, electrical, mechanical. Roof in decent shape. No holes in floors. Very few holes in walls. Operational bathroom and kitchen. Kitchen needs hot food prep (generally a range), a sink, and some cabinet and countertop space. You can probably get away without a lot of floor cover and millwork.

I think from that picture it is going to be hard to go conventional. Looks like it at leasts needs some electrical/plumbing/mechanical, insulation, drywall...