All Forum Posts by: Chris Buesing

@Brit FosheeAgreed, that was not my deal.  That was a home buyer.  I just new of that story from my wife.  She says it was actually 19 K, and no, the tree hasn't come down.  I guess shutting down a city block to get equipment in to drop the tree safely without damaging the other houses and power lines was the issue.  

Thanks @Adam Bartomeo.  I guess the tree is the big money issue.

My wife is a realtor.  She had a client who had to deal with a tree once.  They got an estimate from the tree service for $ 1500 to drop the tree and the closing went forward as planned.  Once the owners got around to dropping the tree, she got a call.  "Just wanted to let you know, the bid has missed such and such details, and actually the cost to get the tree down will be 9 K."  So that's some of my trepidation with this scenario.  I see a 'big black  money hole' with the getting the tree down where it is, right next to the house.  

Thanks guys...

In the purchase agreement, supposed to close in about a month.  Yes the tree is infested and compromised.  Also very close to the house and power lines, so that complicates getting it down.

Termite Inspection came back positive.  Yikes.  Around $700, cha-ching.  Worse, carpenter ants have done their job on a tree in the back yard that needs to come down.  $1500 or much more depending on steps necessary to bring it down without collateral damage.  Yeah...

Suggestions?  Like experiences?  

Thanks folks...

@Stacie Johnsongreat insights.  To recapture appreciation you could have several three or more smaller properties to get to the same 200 K in equity as one larger property, of course you might not achieve the same appreciation if your homes are in a less desirable area.  However, the cash flow on 3 smaller homes bought right, say each cash flows 150 per month,  that would be a cash flow of 450 on the three, which might exceed the cash flow on one single family 200 K property.

The other side of that coin, sort of to @David Krulac's point, is that your 200 K is divided into three units which is three times the hustle work for your money.  If you want less hassle the larger bedrooms and square footage, and less units is the way to go.  

Thanks Glenn.  Good to know!

@Stacie Johnson, thank you.  I'll give Steve a call.  

Who's the most investor friendly lender in the Cedar Rapids, IA area?  

Thanks Matthew.  Talking with my wife (a realtor) she says many actually do refer State Farm in our area.  Like you said, they give me discounts for having multiple things with them too.  

Hey folks, I'm securing a new SF.  Any good insurance companies to use as a landlord?  I have used state farm and have no real complaints, but I wouldn't mind working with a smaller local company.  Bottom line is rate and quality of service.  I would like to work with good people.  Any suggestions?