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All Forum Posts by: Michael Lovell

Michael Lovell has started 2 posts and replied 48 times.

Post: Wrapping up flip #1, deal #2 accepted today

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

Best of luck to you on selling the house. Just make sure everythings working correctely when your buyers have there inspection to have a problem with the sale. Cheeck out the Fairfield County Meetup at the end of the month. 

Post: Thoughts on improving the exterior of this 4-plex

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

How about a quick pergola on either side of the front entry roof. That could provide a little shade and a new look as well. 

Post: FHA loan on multi family property?

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

Probably not unless you somehow converted it into a four family. Then you might be able to do a 203k.

Nice job Alex on jumping in. I've been interested in getting involved in Real Estate for a long time, but never really made the opportunity. Way to go. 

See you there.

Post: Removing shower tubs and installing walk in showers

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

I dont think converting to showers will make any difference. Most people just take showers anyway. Switch to low flow shower heads, faucets and toilets to save on water and make sure there are no slow leaks.

Post: Fairfield, CT: Real Estate Meet-Up (Feb. 24, 2016)

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

See you next week.

Post: Hot Water Tempertures

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

Hot water should be maintained at a target level of 120 degrees. Any lower than 115 degrees in a storage tank and bacteria can grow. You may wish to have a qualified plumber check the water heater and pipe situation. Why do they need a recirculating hot water pipe? I hope your not paying for the hot water to be circulated 24 -7. On older water heaters the fill tube can break off and you will get a quick blast off hot water followed by mild water because now the cold water is filling the tank from the top. Usually thats the time to replace the tank. 

Post: Need advice on Flip

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

Hi Bobby, sorry this happened to you. As a Home Inspector i understand that sometimes things can be missed on an inspection and there may be some real concerns here. Did you have a termite inspection when you bought the house. If so they should treat the house or pay for the treatment for missing the termites. I'd get a second opinion on any repair work. 

Elaborate on the second report.

Footings?

Floor Joist?

AC Ducts? 

Water Heater?

 Cast Iron Main?

Sometimes these items just have age. Not in need of replacement at this time. Budget for replacement. The second Incspector maybe making a mountain out of nothing to cover his but. Talk to your first Inspector. If he was good he will acknowlage if he made a mistake or missed something. 

Post: Contractor uncommunicative, work not completed - ideas?

Michael LovellPosted
  • Vendor
  • Norwalk, CT
  • Posts 48
  • Votes 37

Have the work inspected by a reputable licenced general contractor or Home Inspector ASAP. They will know what kind of trouble your in. Hunt down your contractor at all costs. You do not want to be left in this situation.