All Forum Posts by: David Cruice

Andrew, although you may not like it, the landlord is doing the absolute right thing in asking you, his tenant, to sign such an addendum in order to indemnify himself.  Don't take it personally.  If the rolls were reversed, you should want to do exactly the same thing as well.  If you have tenants of your own and allow them to keep a dog at the property, I hope you have a pet addendum that indemnifies you against your tenant's dog biting anyone while on your property.  To be honest with you, if I was you and I felt the dogs where safe, I'd most probably sign the addendum.  If I felt the dogs were unsafe, I wouldn't want to stay at the property - addendum or not.  At the end of the day, it's up to you, but finding a good landlord and moving is a pain in the a . . .!  Best of luck, whichever way you decide to go.  

Unfortunate!  If you're going to proceed to closing make sure your future tenants FULLY understand that the only things that should be flushed down the toilet are #1, #2, and toilet paper.  NOTHING else, including baby wipes, medications, kitchen towel, tampons, and, especially, cleaners such as draino, Clorox, etc. should be put in the toilet.  And make sure they understand to NEVER pour cooking oil/grease down the kitchen sink or the toilet.  All of the aforementioned will kill off your drain field quicker than you can say, "Oh sh*t!".  Look up some videos on maintaining a drain field, take care of it, and you'll be good to go for years to come.  Finally, make sure the company that installs the new system puts a filter in the baffle on the exit end of the septic tank.  The only thing that should go into the drain field is waste water.  No solids should enter the drain field - especially grease, which floats!  https://www.youtube.com/watch?v=Zkws4A1zR00

Who told you that you had to replace the old septic system and why?  I have a lot of experience with such systems.  A lot of septic/drain field companies are, like your septic tank, full of s . . .!

If you didn't break the water meter I don't see why you would be responsible for it.  Typically, owners are responsible for everything AFTER the meter.  Water companies are responsible for everything before and including the meter.  They may try to pull and fast one and charge you for the meter replacement but push back on them hard if they do.  Good luck!

Congtratulations, @Tara Piantanida-Kelly.  Thanks for sharing.  Greatly appreciated.  Onward and upward!  Best wishes and continued success to you and husband.

Best of luck @Brenna Wood.  Hope it works out for you.  

On paper, Justin, yes it looks like a good deal. However, two things are going to make your project a success or failure: (1) Your ARV is realistic and (2) You don't go over budget on the demo. if you haven't done so already, reach out to a broker and/or experienced investor in your area and ask them their opinion on the ARV. On the reno budget side, identify in what areas you can invest some sweat equity. Painting, landscaping, and other simple jobs like that can help keep your costs under control. If you have the time and skills decide how much of yourself can put into the project. Finally, expect the unexpected. Once you start the demo any number of issues can come up. Mentally prepare yourself to spend another 10 to 20% repairing stuff that wasn't obvious at the beginning. And, finally, don't fall in love with the project and over do it. Remember, you're not planning to live in it. Do you have to do to get to your ARV and get it rented quickly - no more or less than that. Best of luck.

Your local building department should be able to help with that one.  And, sorry if I'm stating the obvious, but the utility company themselves.

Best to speak to a good real estate account but one option might be to sell it now and hold the note for, say, 60% LTV. That way the new owner takes on the risk of a downturn in pricing. You'll then have a 40% cushion should you have to foreclose in the future (worst case scenario).

Your local tax collector's office should be able to help you with that.  Can you explain a bit more about what you need?