All Forum Posts by: Erin Margaret

Welcome to the community! I am in the fox valley area and (thankfully) have acquired a few properties from owners who got burned badly by buyers using the lease to own option. As an investor I'm more than happy to pick up properties that have been destroyed but I caution you to be careful when approaching owners who are unfamiliar with the lease option. If there is already a bad taste in people's mouths you are going to educate them gently.

People don't know how to function with cash reserves. My 1990 Saab recently but the dust. I went to several dealerships in my area both used and new. I told them what I was looking for and my price range... When it got to the the negotiating I was told several times by several different dealers that you can't buy a car in cash, you have to finance cars..... I am young, I am female, I'm not an idiot. A business that doesn't take cash is not one that I am going to work with.

I've got a guy that sends me workers here and there when he needs to keep his guys busy. Sounds like that might be what you need if it is just a bathroom. 

Shoot me a message if you haven't found anyone 

I installed the snap lock allure (a darkish color but I can't remember the name) in two rentals and a small commercial space about 4 years ago. In the rental it held up okay in the commercial space it was trashed l within one year even though it said 15 year commercial warranty. I just sold the building and the allure in the two rental apartments needed to be replaced badly. It lasted 4 years. Looking back I would invest in something a little better

There is a good resource book by readers digest called the complete guide to home repair. When I was just starting out I picked up a used copy on Amazon for a few bucks. Worth it for the pictures and hints.

Welcome from another Wisconsinite! There are quite a few from the Midwest on these boards.

I am not going to sue them or anything like that. It is just a kink in the timeline but they can all be solved. The beam could be seen easily in the basement but he didn't spend much time down there so I guess it was just passed over. The knob and tube he did open up a light switch upstairs to confirm it was 3 part wire, I guess I easily could have checked a few more switches my self. More to keep in mind for next time. 

Don't pay more than a house is worth, that's never a good deal. Also you need some more figures to figure out if this will work for you. Income: 15,240/year. Subtract 6% for vacancy (or whatever number is common for your area)= 14,325 Insurance Property taxes Lawn/snow Annual repairs Call the city to make sure there are no upcoming sidewalk/sewer/road upgrades that will come from your pocket. Also get a home inspection, it has been my personal experience that owners who are willing to finance them selves sometimes know the building is traditionally not finance able due to strange building/code issues. Better to pay the $200 for an inspection than being stuck unable to get a loan to pay the 5 year balloon.

Hello there BP land! I purchased an adorable 1920s two bedroom home I am planning on buy/hold in for a while. When I walked the building inspector through he assured me the frame was strong and there was no knob and tube wiring. Not that I'm 1/2 was in to the demo I found a rotten beam, two completely in supported joists, and the entire down stairs is still functioning on live knob and tube wiring! I have enough capital to deal with these issues but it completely derailed my "10k and rented in two months easy fixes" plan. And I have to pull the capital away from my other bigger project to accommodate. Have you ever found something very very wrong on an inspection report? Did you just bite the bullet and bear it? I'm debating calling them to complain but I don't know what good it would do me.

hey Joel, I just sent you a PM about a 10 unit property in Appleton.