All Forum Posts by: Casey Crowe

@Curtis Bowen I appreciate the tips. We ended up replacing all the plywood subfloors, and sistered many of the joists. We replaced a ton of sheetrock and gutted the kitchen to the studs. Did re-wiring, etc. My wife was not OK with running an ozone machine in the building as we share a flimsy wall with a family next door. The smell is gone, and we're all in rebuild mode now. 

@Curtis Bowen good to know! This has been quite the learning experience! I've got some new pics as we've made progress. Upstairs is all but done!

Bathroom after we'd removed trash bags that went to the ceiling:

And now. Just need to finish painting trim and putting the right color toilet in. (accidentally bought a bone one)

Downstairs:

Same master bedroom from above:

Hey Terry, I don't have a contractor for out in Camden as far as a GC, but have some subs that might work depending on what you need! 

Update!! It's been a couple months. We paused to help my father in law work a flip, and get that sold. So now we've hired him to help us work on the condo. We decide to replace all the plywood subfloor, and any affected drywall, gut the kitchen and bathroom upstairs to the studs, and KILZ the whole house. We also had the concrete slab ground smooth to prep for flooring.

So here's some updated pics! 

Stairway, with new plywood treads and risers, and cleaned baseboards:

Master Bedroom:

Laundry area:

Bathroom upstairs:

We had the electrical all gone through, replaced the main breaker panel, and wired in some new outlets and under-cabinet lights. This weekend will be drywall, paint, and maybe some flooring!

Hi Alex, 

Condos can be great, but you have to really do your due diligence on them. You need to accurately ascertain the monthly costs. Regime fees/HOA dues can gobble up your cash flow if you're not careful. I have a condo, but the fees are pretty low (could be lower) and I got it for a song. Also ensure you get a property tax estimate from the tax assessor's office. I've seen some sub-$35k condos around here in columbia have $300/mo regime fees. Just something to keep in mind.

@Robert Collins am I reading this right that the ARV is less than the purchase price + repairs?

How solid are your comps and rent forecasts?

@Michael Norris I like and have used Michael Morris Law firm here in Columbia. Definitely recommend!

Hey guys, 

I'm currently renovating a condo, and it shares a single wood framed wall with another unit next door. (The other side has a cinder block wall). Essentially, the neighboring unit was recently renovated and rented, and there's now (and has been) water leaking onto the concrete slab, and through the bottom plate of the wall, and into our unit a little bit. 

The bit coming into our unit seems to have stopped but the wall is still moist and harboring mold. What kind I'm not sure. 

I've contacted the other landlord *numerous times* to fix the leak and abate the issue on his side, as cleaning it up on my side is pointless until the water stops. I've sprayed it multiple times with heavy duty vinegar to help cut it down, but of course it's continually being fed water. 

I have a long chain of text messages between myself and this landlord, including pics of the issue and he refuses to address it. At first he seemed to be skeptical it was his unit, until he came over and I showed him how my water pipes were cut open and dry. (Water had been off to my unit for months). He promised to get someone out, and keeps slow rolling and delaying the situation. 

What's my best steps to get him to do his job? I don't want to make an enemy of him, and I've been extremely patient, but I'm about to get this thing finished and I can't have this going on much longer. 

Any suggestions? Do I need to report him to a housing authority, or send a letter from my lawyer? What say you?

Picture below to see what I'm talking about. 

 Hi Kevin,

Thanks for your response! This will help us get a feel for what things are like and if it makes sense to make this happen. If we end up with more questions, I'll be sure to reach out. Thanks again!!

Hey guys, investor from SC here. 

I'm doing some research into the feasibility of starting a non-profit that helps people with a certain rare type of cancer (of which I'm a patient too) get to MD Anderson for treatment. Because what we have is so rare, most doctors go their whole careers and may see only 1 or 2 cases. And getting to an absolute expert surgeon is critical for long-term prognosis. (I myself travel from SC to MD Anderson)

What I'd like to know, is what's the market like for AirBnBs down in Houston, specifically near the Texas Medical Center. I stay in them when I come, but I'm wondering what's a typical 3/2 or 2/1 that could use some rehab (Think BRRRR) run? What are the property taxes like? Are people running AirBnBs and successful there? Our city of Columbia is so much smaller than Houston that I'm kind of looking for a pro to just give me some back of the napkin numbers.

Ideally I'd like to see if a model where we let people with this cancer stay for free while they're there, and then rent it out to regular people to raise money when it would otherwise be vacant would be feasible. I know the property taxes can be high, but this doesn't need to be luxury. I think I've paid from $65/night to $80/night the 3 times I've stayed nearby. 

If anyone in the AirBnB market in the area would share some info that would be wonderful. Thanks guys!!