All Forum Posts by: Brandon Handel

Hey guys, I need some help trying to work around the discrimination laws. I recently had someone ask me if we accept people disabilities. I replied "of course. as long as they meet our min qualifications, we accept anyone." They said they wouldn't meet the credit score that we have advertised as a minimum qualification, but that they have guardians. I don't want to get caught up in discrimination issues, but can I disqualify them based on the fact that they don't meet the credit score we have established as a min for renting from us or are we unable to because they have guardians that pay? I'm really confused here and don't want to make a mistake. Would appreciate any feedback. thank you. 

Hey guys, I need your help. I have the opportunity to buy a house really cheap in an area that'll appreciate like crazy in the coming months. I have one potential problem though. There's a squatter. An investor friend of mine gave me a lead on the house. Here is the basic situation.

Seller "A" sold a home to Buyer "A" via land contract. Buyer "A" died and now his son (we'll call him buyer "B") is living in the property and not paying anything. Seller "A" sold the paper to another person (we'll call him Seller "B"). So now I have the chance to buy the contract from seller "B". My question is If I buy the paper will I be able to evict buyer "B" since he was never on the contract, or do I have to go through the foreclosure process? Does the contract become void since the father died or does the son still have a claim to the house and I, therefore, have to foreclose on him first? 

I've never been in this situation so please excuse my ignorance. My investor friend said I could do either, but since the guy isn't a tenant and not under a lease, I don't know what direction I need to go. Also, I don't know if he automatically inherits the rights to the house since his father passed or not. 

Any advice would be much appreciated!! Thank you!

I analyzed correctly. Having to budget for water kills the cashflow. That's why I said I'm looking for ways to get rid of it and turn it into a good deal. I'll look into your ideas though, thanks!

I quick Googled to try to find what it was I was thinking about with metering and billing the tenants. It seems there are some companies that will install it for you and allow you to bill the tenant directly online. It also has the benefit of alerting me if it detects a water leak which could be a life saver if say a frozen water line breaks in the middle of the night. No one would know because no one has access to the basement and there's a sump pump in there so it would just keep going and going I imagine.  Have you ever tried any companies that install the sub meters? 

So I found this duplex and almost everything about it is great. It would be a great deal... If I didn't have to pay the water bill. The water bill is going to kill my cashflow. Do you guys know of any ways to get out of this and put this on the renters besides the obvious "getting another water meter" I've heard of landlords putting some kind of meter of their own on each main line going to the different apartments and then reading it each month and billing the tenants. Then they pay off the water company. Idk where to get these or how to really go about that. Could I shut their water off if they don't pay me? If anyone has an answer for these questions or another suggestion to get around paying the water bill i would be very grateful. Thanks guys! 

Hey guys I went to look at this house the other day and I think it may be a "pig with lipstick". The foundation had a water leak. It drains down the wall into a drain in the floor. Looks like they tried to patch it multiple times. The ceiling has multiple cracks with horrible patch work. The center support beam in the basement is twisted on one side. They nailed 2x4s to give it more support. I wish I could upload photos to show you all. I feel I could cover the patch work and cosmetic stuff. My gut tells me this is a black hole for my money though lol. The leak alone has me worried that even though it's contained now, it'll just weaken over time. Plus you can see what looks to be slight crumbling of the bricks outside. To me it seems obvious I should move on but I want others opinions. What are your thoughts? TIA

Hey guys, 

Can you please give your feedback on this deal? This report is kind of a worst case scenario I think. The house is I believe 30% under market value based on Comps. Then rent in the report is set at $645 although I believe I could get closer to $695. rentometer.com says the average in that area is $688. It's close to downtown. I would say the area is around a C+. I think that could change though in a few years. The city is trying to close a $440m project within walking distance of this house. The project is to renovate a 45 acre campus into retail, office, apartments, and education workplace. They are expected to come to terms with the developers on the funding by the end of summer. If it carries through, development will start this fall. Property values have already soared on the other side of this project. None of my figures in the report have any reliance on the project getting funded though. That would just be icing on the cake. Worst case I'm getting at least $100 in cashflow. I figured in property management costs into the report for the future but for now I would be managing. That would bring my cashflow over $200(even more if I can get $695 a month.) My cash-on-cash return is over 15%. However, it does not meet the 2% rule. Since the other numbers work out well though, does that matter that much? It's at 1.48% worst case and I believe over 1.6% at best. Thanks for reading all this. I look forward to your feedback! 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

So I'm looking at a rental online and it has shingle siding. I was just informed that shingle siding is made with asbestos and is really dangerous. Are there cost effective ways to deal with this like just putting new siding on or is it so dangerous that I should skip it all together and look elsewhere? Thanks for your help guys! 

Hey was wondering if anyone knows how to find out why a house was condemned and if they have any experience with buying one. Thank you

Hey, just wondering if having multiple mortgages is going to hurt my credit score? Will nothing happen to it so long as I continue to pay my bills? It's really high and I don't really want to ruin it. Anybody know for certain? Thanks