All Forum Posts by: Brent Hiser

Thanks a lot for the help guys! I appreciate it.  

Odd in that it seems like it was a do-it-yourselfer who did the wiring...  Wires are run every which way and spliced every which way as a well.  This is why I'm unsure if the old knob/tube is in use, since I cannot see whats going on in the walls and cannot tell what wires go where.  

I am currently looking at buying an older 4-plex that has a sloppy electrical wiring system and we are unsure if any of the old knob/tube is still in use.  None of the units appear to have a problem at this time but adjusting anything in the future could be a nightmare.  Should I ask for money from the seller to update even if everything appears to be working now? Should I walk away, ask for a credit, etc? What is the best way to handle this situation?  

Our first properties cash came from living off only using my wifes salary and investing all of my salary into stocks.  Specifically, we were invested in Telecom's like AT&T/Verizon, as they have a 4.5%-5.5% dividend yield. These were a great place to park the cash we were building up to purchase our first property, as their weren't many major price swings and you have a 5% cushion/hedge if you bought at the wrong time.