All Forum Posts by: Cassie Chun

Welcome to BP! This is a great place to learn a ton of good information. I had trouble getting a profile pic on through the app on my phone. I was able to make it work on my desktop. Happy Learning!

Originally posted by @Mark Sewell:

Attend local meetups and get new spouse.... 

kidding, kidding.... I get the question.  Mine isn't totally onboard either, yet.

 Ha ha ha...this might be solid advice!

@Account Closed I second that and went through the exact same thought process when thinking about pursuing this myself

Originally posted by @Joni Chin:

@cassie
Aloha Cassie, I’m another Hawaii resident investing OOS for the last few years. Careful with the plumbing, electrical, etc they can add up to big bucks—noticed that sellers are covering the cost which is good. Just wondering about age of home and whether you got sewer inspection, as that’s not usually covered under the standard home inspection. And sometimes that will result in an expensive surprise like I did a few years ago. (Old sewer pipes and invading tree roots don’t go well together!)

Hi Joni! Always nice to hear from a local REI investing OOS! The plumbing and electrical were redone this year as part of the rehab and are covered for 12 months by the turn-key provider. I just learned that the roof is also covered for 10 years. The house was built in 1943 (yikes!) I did not get a sewer inspection but that's a great point. Thank you for the advice!

Originally posted by @Victor S.:

Originally posted by @Cassie Chun:

@Victor S. I uploaded to FilePlace. Is that the right place? I can't tell if it's public or private.

 Found it, but not going to post the link due to the report showing address of the property. I'd suggest just uploading screenshots of the 30 items they've identified on it instead. 

What can I say? From the pics, the property looked like it was already "rehabbed", but the laundry list of items the inspection has identified, makes this a shoddy job at best. Your big rocks are: a/c, plumbing, and electrical. Since you're investing from afar, I'm not sure how you can find reliable contractors that will not take you for a ride. Like somebody else had mentioned, you can negotiate a price drop based on these, but, again, you'd have to find a reliable contractor to provide a solid estimate first. I'd think you could get most of this done with $5-10k, imho.

 Newbie mistake...I took the first page off so property address is not showing. Thanks for mentioning that!

The seller has agreed to address/repair most of the items identified. "Shoddy job at best" - I had the exact same thoughts considering the property WAS just rehabbed. I really appreciate your comments!!

@Victor S. I uploaded to FilePlace. Is that the right place? I can't tell if it's public or private.

@Victor S. Uploaded!

@Josh Dillingham Great suggestion! Emotion and anxiety are definitely high as a naive newbie and it becomes quite discouraging. I need to stick to the numbers and facts.

@Charlie MacPherson I appreciate the advice!

@Mark Sewell Great questions to get me thinking about what I might consider major problems. Thank you!

@Corby Goade I guess it's difficult for me to determine what kind of deal is amazing just yet as I am new to the REI space. This property fits within my "affordability" comfort zone and the numbers work for me. It's tough to invest and cash flow in Hawaii with such high housing prices. I need to work on determining my risk tolerance. The SFH I'm buying is an old home in Ohio for $73K. I probably need to come to terms with the fact that an old home at this price is bound have problems, determine my risk tolerance, then decide if I'm comfortable moving forward on this home.

Hello! I am from Hawaii (Oahu) and brand new to real estate investing. I’m tracking to close on my first out of state turn-key rental property in June (single family home). I just received the home inspection report for this property and there are some concerning things identified by the inspector. I don’t actually have a good feel for what is considered minor, major, bad, or very bad. Can anyone offer some advice about what types of things on a home inspection report I should watch for that may be considered “deal breakers” or cause to change my mind about purchasing a property?