All Forum Posts by: Bryan O.

Hi all, I am looking for a handyman or other general maintenance person in Davenport. Whoever the PM company was using did bad work and I am now having to have it redone and need someone who can do the job, and ongoing projects as they come up. I am a low-volume customer, so I won't monopolize a recommendation.

@German E Franco cap rate is a financial metric, not a risk metric. While the 2 may often coincide, they are correlation rather than causation. Cap rate answers the question, "If I put XX of money into an investment that nets YY of money, what is that return?" It is a very simple was to compare to other opportunities... for example, should you buy an apartment building, invest in that business, or pick up those stocks/bonds? The cap rate makes a quick number to compare apples to oranges. In reverse, it's a quick rule of thumb to calculate purchase price if you know the net operating income (or can guestimate).

@Kevin Sage if you are filing a claim, why demo the garage at all? Why not have it fixed or rebuilt? Your deductible should be the same. Of course, I assume you have replacement cost insurance, so maybe I have answered the question already, but I would go with whatever route raises or keeps your property value high and keeps the usefulness of it high.

@Nicholas Meyerhoff pick you finish level, then build to it. It takes however long you take to finish the work. If you are slow and it takes you a year, then it takes you a year. If you are fast then not. You get more than one benefit: you learn how to do the work if you didn't know, you get better at it if you did, you save the money that would be spent paying someone and raise the value of the home, then you bring in extra income to repay all the time/costs and build your wealth.

If you have any specific question it would help to have enough information to be able to help. Your post as it stands is like calling someone and asking, "How do I get there?" when they have no idea where you're going or where you are.

@Jaron Walling not unlikely! But then you put their 3 day notice to cure high enough the puppy doesn't eat it and charge double after that!

@Chandra Mcculloch it sounds like you need to talk to your parents and come up with the terms. If you are doing 50/50, then it sounds like whatever you pay them is reduction in the amount owed. If they don't yet trust your flipping skills, you could agree to treat it like a standard loan at xx% interest with payments every month/quarter/year and use your profits to repay. Definitely understand what their needs are (they just took a loan for you and have to pay it back somehow) and set up your loan to accommodate.

@Christopher Scott Until the dog is gone, the pet rent stays. Are they planning to get another dog? Be wary if they do because if they want a puppy it is going to need to be house trained and chew on things.

@Billy Thurston make sure and check around first. FHA allows 1-4 units without any issue. Many of the other owner-occupied products only do the low down payment if it is a single unit. Call around to a few banks and ask them. If they are too hard to find then you can possibly refinance your FHA to normal, then go buy another on FHA.

@Jessica Mayo my $1m umbrella runs something like $18/month. Go with what you are comfortable with. Personally, and average payout of $125k means nothing to me because the upper number to make that average could be higher even than your umbrella. For the extra couple dollars, I was comfortable having a higher cap. But as @Nathan Gesner says, you will likely not be sued and if you operate your business cleanly and fairly then you will likely have no issues.

@Joe Palmer white is coming back. Stainless gets very ugly fast if not frequently cleaned. It also shows dings very clearly. If you have a higher end property it may make sense. If not, I recommend black or white appliances.