All Forum Posts by: Brandon Roof

Has anybody ever used locking vinyl plank or tile for tub or shower surrounds?  I recently saw a Durawall video where they applied adhesive to the back and silicone in all the locking joints.  Anybody have any firsthand experiences or have input as to whether or not this would be a reasonable idea?

This is going to depend wildly on location, going rate, whether it's part of a bigger project, whether it is a single person or small team, the complexity of the space, etc.

That being said, I've seen many occasions where a nearly complete bathroom remodel will run $8k-$12k for labor and nice finishes.

So could $6,300 be too much?  Possibly, but I don't believe it to be outlandish either.  Another quote or two would certainly help determine that.

Once closed,the former owners will become tenants at will.  If they haven't already been served with some form of termination notice, you can begin the process towards eviction or cash for keys, as long as they are willing to not trash the place on the way out.

Cozy and Tellus seem to be two of he more common I tend to see in use.  Each has the same basic functions with a few features that differentiates the two.  Both can be free to use while Tellus is free for any potential tenants submitting applications and background checks, whereas Cozy has a charge for those services that can be deferred to the applicant.  I believe Cozy to be one of the more dominant players in this space though it appears Tellus is making a lot of inroads.

It could mean that have a rather unsavory history or are hoping you'll be blinded by the $ that you'll bypass doing any due diligence.

Unfortunately, I think the best strategy would be to move on from it.  Whether that be refining your search criteria or looking in different areas, you certainly don't want to try and rationalize something that doesn't work financially.  In the scenario you provided, buy and hold is no better in my mind.  I would be patient and simply look elsewhere.

I think many investors look at credit scores, or income  for that matter, to better determine if the potential tenant will be able to reliably pay for rent during the duration of a lease.  In the case of an individual currently paying down significant medical bills, it's very unfortunate as it's often in our nature to express sympathy and want to go the extra mile to help out.  But if the credit card debt is going to compromise their ability to pay rent, I think the reason they find themselves in their current position becomes somewhat irrelevant to the investor, as there is a reason investors set these "rules" and stick to them, as deviating from them has led to them being burned.

A person in the scenario you described may turn out to be a model tenant, but the more you stretch your rules to make exceptions, the more likely you expose yourself to headaches in the future.

It's often said when acquiring a property that you always want to have an exit strategy.  As you've mentioned, things can happen along the way that might derail your plans, leaving you in a significantly compromised financial situation.

When I'm considering a property, I want it to be versatile enough for multiple exit strategies. If I attempt to flip a house and don't get the price that I'm looking for, can I do a lease option instead or BRRRR it? If those options don't come to fruition, does it still make sense to become a long-term rental?

If things played out in the scenario you have presented, you are likely to have a good chunk of capital tied up in the deal for a number of years, attempting to keep your head above the high interest, and if you are under-capitalized elsewhere you may be forced to sell the property at a loss to recoup as much as you can.  

If you're not comfortable with those outcomes with the current BRRRR properties you're considering, you may need to look for others where you could weather the storm of a worst case scenario.

The two reasons I generally see is that the photos are forthcoming, as there seems to be a slight delay in the process at times.  Not sure of the particular reason, but maybe an agent can shed some light on the process.  I doubt there is a strategic reasoning behind it.

The other is the property is in such disrepair that they'll never get anybody to view the house if people see pictures of the property beforehand.

For pets, as opposed to a deposit, many charge a one-time, nonrefundable pet fee.  Pet rent may be collected in addition to this.  I often see an additional ($25-$50/month).

I wouldn't leave it the same unless there are no other places in your area that charge for pets (I doubt this would be the case.

Lastly, with the washer/dryer, if you don't have ample space for a true utility room, and your stuck with it in the kitchen, you may consider building a small closet with bi-fold doors around them.  Maybe concealing the units would appease potential tenants more and an additional shelf or two for storage could be installed too.