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All Forum Posts by: Dawn Oree

Dawn Oree has started 9 posts and replied 82 times.

Post: Insurance - Any Suggestions On A Good Company?

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43

Hello Everyone!

I'm about a 13 days from closing on the 7 unit in San Diego and I'm starting to look for an insurance company for the building.  I wanted to know if any of you have suggestions on what to look for and the things an Apartment Owners Insurance policy should include.   Anything I need to be sure to safe guard against or avoid in the policy?

Post: Newbie RE Investor from San Jose, CA

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43

Welcome to BP!  

Post: Week 1 Of DD Flew By! I'm KNEE DEEP In It Now!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43
Originally posted by @Wayne Brooks:

No, inspectors don't usually scope the pipes, plumbers do.

 Thanks Wayne!  

Post: Week 1 Of DD Flew By! I'm KNEE DEEP In It Now!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43
Originally posted by @Steve Vaughan:

Well done @Dawn Oree!  Exciting stuff!

It's normal in my experience for the inspector to not scope the sewer pipes.  They will test the drain flow, or try to anyway, but a plumber has the actual camera.   Mine just did a sewer main for me for $75 +time @$80/hr.    

Yes it is!  It's "Disclosures Week".  I'm going to be reading a LOT this week.  Thanks for the tip Steve!  I'll call in a plumber asap!  

Post: Week 1 Of DD Flew By! I'm KNEE DEEP In It Now!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43

just wanted to keep you all in the loop! The first week was expensive but it's over. Inspection is done and my contractor is crunching numbers for repairs. I've gotten everything I need done and in to my funding partner except the ARV / CMA .

During inspection there were some issues found.  The balconies are not all stable and two need columns under them ASAP!  The floors are not level - I mean it's slanted from a shift in the foundation.  I'm gonna definitely have to tent the building for pests ( little bugs everywhere).  There's termites little termite damage.  One unit has a leak from the window (shoddy repair).  There's a need to upgrade the electrical panel.  The current wattage is way too low.  All of this means that. I get to ask for $$ off of the purchase price.  Of course I'm going to wait until I get the final inspection report and repair costs analysis before I go back to the seller.

I have a question.  Should the inspector have been able to run a scope in the pies or is that something that's not a standard thing inspectors do?  My inspector suggested Thai I have it done, but was not equipped to do it himself and is sending referrals.  Is that standard?  

Post: I GOT The Building Under Contract!!! YAAAAAYYY!!! Oh Crap!!!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43
Originally posted by @Lesley Govan:

Congratulations Dawn! Good luck!! You got this!!

 Thanks Lesley!

Congratulations @Joshua Dorkin and @Brandon Turner!!!  That's AWESOME!!! 

Post: I GOT The Building Under Contract!!! YAAAAAYYY!!! Oh Crap!!!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43
Originally posted by @Tim G.:

Hey, not sure how I was tagged but it didn't notify me. 

If you need help finding contactors or inspectors just shoot me a PM or Email. 

Happy to help. 

Hi Tim!  Glad you check the thread.  I'm searching for an inspector now.  Contractors I have at this point. I will email you.  :)

Post: I GOT The Building Under Contract!!! YAAAAAYYY!!! Oh Crap!!!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43
Originally posted by @Terrence Moore:

Congratulations! Bigger Pockets provide great referrals. However, you can look into your Real Estate Investment Association and see if they have an advisory board or a network to pull referrals from. 

 Thanks Terrance!  I appreciate that bit of info.  I didn't know that.  

Post: I GOT The Building Under Contract!!! YAAAAAYYY!!! Oh Crap!!!

Dawn OreePosted
  • Real Estate Agent
  • San Diego, CA
  • Posts 85
  • Votes 43
Originally posted by @Nick West:

Im curious how much 7 units cost in San Diego. Im guessing at least 2 million for san diego. I have a due diligence check list I can give you. I hope that the best of luck

 Hi Nick!  This one is GREATLY undervalued.  I'm getting a good deal.  You are correct.  Most apartment buildings selling at market value are about $2.5M - more if it's closer to the ocean.  I'd love to have your dd checklist.  That would make it much easier.