All Forum Posts by: Brent T Howell

Hello Jon,

I know this post is older but I am curious about how your two homes have turned out as rentals? In my market it sound a lot like yours in that it is a solid blue collar neighborhood that has homes from around the 40-60's. 2 bed 1 bath 650-800 sqft. I could scoop them for a good price, fix and rent them for a good turn. 

 I would love to hear back. I am really thinking about pulling the trigger on a couple of these things. 

Brent

@Eric Ashby

I believe that list only applies to registered businesses. Not to private individuals looking to buy stuff. So I guess if she calls as a business owner then you are correct.

Financing contingency was put into the offer. We pulled comps the best we could. The problem is the triplex is in a neighborhood of single family. What we did was take the sell price for some local townhomes and multiplied them by three. Either way the VA loan appraiser is pretty strict. We will see what come out later. Right now I just need them to bite on my offer.

Hello BP,

I need some advise on this one. I have a triplex that is in a SF neighborhood. It cash flows at the asking price. When I look at the tax assessment it is 100,000 less than the asking price of the property. I found this to be weird and raised a red flag. I know that these numbers do not effect each other. However, 100,000 over? Seems like a lot. 

I would love to hear your thoughts. 

You all are the best,

@Krissie Cole I have seen this piping in homes before when I did remodel construction in Northern Arizona many years ago. I did some research and I see what you mean. So do you buy homes that have it or is this a no go item for you?

Thank you all for the helpful info. 

Scott,

Thanks for the input. I planned on getting a quality home inspection. That is one step I do not think I will ever skip no matter the market.

I will put that in my checklists.

Do you have any home inspectors in the area that you trust?

@Alex Winfield I agree with you on that. Probably not worth it in the beginning. 

I am being told that Hampton Roads is a Buyer beware area, seems like the seller being forth coming with information is a problem. Have you experienced that at all? I know in Alaska sellers push property documents like furnace, roof, heating system inspections, as well as financials and proof of rental income. 

What are your thoughts?

Yeah I got some quotes together the other day for flood insurance and it would be a bit tight to find a house that cash flows enough to offset that cost. Aside from that, have you ever had any issues with asbestos? I have heard that inspectors need a special certification to inspect that stuff.