All Forum Posts by: Bryan Devitt

 Documenting everything for court wasn't for you to sue, it was because they'll try to threaten you for breaking the lease. Pack everything up, find a new place and move. If you cannot find a place to move immediately, move to a hotel and sue the landlord for the cost due to the unlivable conditions of the property. Chances are you will have to sue them to get your security deposit back with the way they're acting already. 

 Do you feel it would add $2700 in value to the space? I have seen some that it would add the value but it is rare. I couldn't give you an honest opinion without seeing what it is like now and what it would be like after. If they're currently so bad that people wouldn't want to use them then it would be worth it 

Leverage is risk, risk is subjective. There is no right or wrong answer. IMO take the timeline out of your head, 3 weeks or 3 years of buying, the timeline doesn't matter. You're definitely tight on the emergency fund to say the least but what will this 3rd property cash flow? Is it already rented? Does it need repairs? I personally won't be buying anything until the crash happens and the bottom is found, but tons of other people think there is still a lot of room left for growth. No one knows, we're all just guessing and hoping for the best. If you're gut is telling you to go one way or the other, follow it.

Have you tried asking the best of the best if they will do a quick and cheap job for a flip? When we sub paint the company we use will do everything from quick and cheap to the best job you can find, the difference is how long they spend on prep and details. Times like now though they're too backed up to get into the cheap work and we can find a local painter, normally someone new that is just starting out on their own and doesn't have the name recognition to command the higher price, advertising on local town FB pages. If you're working in the same area once you find one you can normally get 6 months to a year out of them before they can get their prices higher. Sometimes you'll find someone bad and they'll need to redo something or do touch ups here and there but it is a much better place than Craigslist. 

IMO you over paid heavily on interior painting. $1400 for 3 small rooms? I am assuming by the sq ft. The laminate is also excessive IMO. $7 a sq ft installed but it doesn't list material price. For that price of home I wouldn't have gone over $5/sq ft installed and kept it closer to $4. I could be off base because I don't know that area and what the buyers expect. As I keep scrolling, all of your interior paint prices are ridiculous to me. This is what my painter charges me for his high end work, not for a $150k flip house. I can get a quick paint job for $200 a 12x12 room and ad $50 for a ceiling and $50 for trim and this is an area where an entry level 900sq ft 3/1 ranch is $240k with $12/hr starting pay for zero skills. With that said, you over paid for the house initially. There should be much more meat left on the bone with that much money into it. Live and learn

What did you spend $8k on in the bedrooms and hallway?? Drop the price to your break even number and hope it sells unless you think you can rent it for $1500 a month

It depends on where you are. Some markets are at peak, some are past and some have fallen in general. If you break down those markets into price categories you will see that maybe 3 out of 5 have peaked or past but 2 haven't yet. There is still some time to get deals to feel happy about now and in time you might be upset about those deals or very happy. Only time will tell and I hope you come out on the good side of things 

What a #$%$!!! I can't believe this kind of crap and old man mentality is still around. I assume there is no way to cut the guy out of the deal as a small lesson of how women aren't considered property of their husbands?

People have been flooding the market, it always happens when we're about to peak. When it crashes, give it a little bit and plenty of people will either panic sell, be leveraged so much that they're forced to sell when something small goes wrong or have to liquidate to finance other issues they're having. I have been holding back for a little while now waiting for it to pop, it is coming and I think there is more risk of downside than possible upside still. Think of William Wallace screaming for the line to hold and hold. Soon, we can raise the spears and attack, the anticipation is killing me though

The blinds is maybe their fault, but the other 3 I consider wear items.