All Forum Posts by: Deryck C.

Thank you so much Joel for your input, i will do that, i really appreciate it!

Thank you all so much for the advice, i think I'm going to skip the attorney and just spend that money on replacing the sewer line. I already spend tens of thousands on repairs the excavations and flooring i thought i can contact the person who's liable for this, but thanks again everyone for your honest advice! 

Hello BP community I need help, I bought a sfh rental in OKC back in 2021, did the full inspection, and everything looked great. Recently since August 2024, I've had countless flooding issues, and my plumber had to excavate my living room & backyard last month. My plumber found that my sewer line was shared with my next door neighbor who is the corner house. My plumber said that the city of Oklahoma doesn't have any records of the 2 properties sharing a sewer riser and that the Y locate riser are also facing the wrong direction, which is not legal according to my plumber. I showed the documents and invoices to my home insurance and my title insurance, and they both denied coverage or compensation. I do not know who else to get in touch with, and my plumber said the city will want me to replace my entire sewer line. I do not have contact with the previous owner and my old realtor told me to seek an attorney. Before I do search for an attorney, I would like to know what you would do in this situation or who should I seek for who's liable for this. 

Any advice is greatly appreciated. Thank you for your time.

@Nathan Gesner, James, and Adam thank you so much for your advice. I will probably sell the house in a few years since it was built in the 60s and the plumber said that i shouldn’t have any issues for some time now, hopefully. My plumber also said that it wasn’t the tenants fault and the city could also make me change the entire sewer line so I shouldn’t get the city involved.

Hi all investor here with a sfh property in Oklahoma, I have been having ongoing plumbing issues almost every week with toilet clogs etc since last year, and recently they had to repair the sewer lines and had to excavate the backyard and living room floors costed me tens of thousands of dollars. My property manager says there was no indication that the tenants are at fault.

My question is, could the city be responsible for this situation?

Would you sell this property or fix it and hope this issue doesn’t go on for another year?

Thanks for any feedback!

 Hi Scott i like the advice you gave and was wondering if you can give me an advice. i'm remodeling my one story rental and needs a new roof and an updating of the kitchen and bath. Which one would you do first, remodel the kitchen and bath, or roof first, or it doesn't matter since updating the roof won't affect the interior part of the house...

Any input is appreciated, thanks

 Kumusta Lope, do you know what banks in the P.I. offer pay-ibig programs? I would like to buy a house in the philippines, thanks po

@Carlos Ptriawan I don't have any kids yet and no primary home, I still rent, houses here in Mountain View California are about 2 million. Since I don't have kids and a primary house, the idea of paying off my mortgages came up, just like @Brett Hennessy said, I agree with the plan to have of all your mortgages paid in x # of years so that you can retire and live off the cash flow. 

Thank you @Joe Villeneuve your examples are amazing and relatable! 

Thank you all for the outpour of advice from this community! 

To answer your question Steve and Theresa, I think I'm done expanding as I depleted all my savings to buy these 2 properties, I don't think I can scale to 5+ properties, or maybe not in a very long time since I'm only a teacher and don't make much. If I do pay down a mortgage I agree with Tyler Williams & Khaled Dorry, "pay off the lower balanced first", and what Joshua Morgan said, "pay down the higher cash flow first", which is the Oklahoma house, then pay off the Arizona house after. I think I will be happy with both houses payed off by the time I retire

Thank you both Joe Splitrock & Joe Villeneuve, I'm learning a lot from your insights. 

To answer your question Joe Splitrock, the high appreciation property is in Gilbert AZ where the interest rate is 3.375%, it has no cash flow (I break about even with property management, HOA etc). The cash flowing property with little appreciation is in Oklahoma City and the interest rate is also 3.375% 30yr loan. I bought both rentals in 2020 and don't know how long I should hold them for. Which is why I'm asking which one should I pay down first since Dave Ramsey always says to pay down the mortgage first and receive high cash flow. But since the advice I'm getting is not to pay them off, then I guess I will hold on to them for 30 years until its fully paid off..