All Forum Posts by: Clint E.

I agree with you (for personal residence its about finishes for a rental its about systems).  So do you think it costs more to build that property than buy it used (either already to your standard level or buy used then fix it up to your standard level)?  

Thanks for the feedback

 You're blaming everyone but yourself.  The other investor had his financing lined up and his contract worded to his liking so that when he saw something he liked he could pull the trigger.  When you go hunt, you don't find the deer then load your rifle.  You make a plan, load your rifle, and you head out ready to capitalize on an opportunity.  

I think some people buy new vs used for the same reasons in houses and cars.  Reliability of performance and low maintenance costs on the horizon, plus they get to pick out things they want.  Upfront cost may be more, but what is the total cost?  What is knowing and controlling everything worth to an individual?  

It's interesting that if you did this (discriminate against those who exercise their constitutional rights) about someone's religion, let's say a dangerous one, you pick it, and all hell would break loose.  

What else will you not allow?  Freedom of speech that you deem offensive?  Voting?  

Not trying to attack OP, just a similar line of thought to bring something to the conversation.  

If it wasn't move in ready then how did they move in?  

"Halted the move in progress?"  Who takes a week to move in?  

@Dan Hoehn I'm currently rehabbing one side of a duplex and renting out the other.  As soon as its rehabbed it'll be rented and I'll be looking for another deal.  I'm potentially interested in partnering up on a deal at some point, because its two eyes, two trains of thought, two people to do work if needed.  Let me know if you're interested and/or if you want to talk about where the two of us invest and what we see.  

Where is the house?  Is this for a flip or a rental?  What were the electric bills before on baseboard heat?  What class neighborhood is it in?  

I ask all this because they dictate the expectations of buyers and renters in your area.  

1.  Sounds like you need to know what it takes to get it legal (larger window, stairs, whatever it is).  What's the cost of that?  Really, get a GC to give you an estimate (if you're serious).  See if the owner would do a sales contract with the repair contingency.  

Also, independently verify all the numbers.  They could break you if they're wrong.  

2. Over-leveraging? Yes, it is a FHA loan with low money down, not your typical 20% down so by its nature is highly leveraged.

"Difficult to acquire future deals with seller financing"  If the seller is financing your future deals (and not a bank) that's up to them.  

It would attract people with dogs, so maybe you can use pet rent to offset the maintenance of the lawn.  

Or if they are going to mow, make it easy to mow.  Get all the junk out of the yard (small bushes, playground, decorations, etc) so that it's easy.  Easy = more likely to get done.  

Also for edging and fencing, consider using RoundUp to just kill weeds on your fence line. Spray a few times per year.  

 "seems like a pretty unethical way to get ahead"

Are you talking about settling a debt for less than owed or giving credit cards to 18 year olds to take advantage of them?