Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Kris Fox

Kris Fox has started 15 posts and replied 56 times.

Post: Landlord-Tenant issue

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

I'm sure something like this has been covered before, but here goes...

There was a plumbing issue with the main drain line. There was some gurgling when the sinks/tubs would drain.  That's obviously not normal.  I called the plumber. It turns out there was a lot of debris in the drain between the house and the city side of the sewer.  This was the first tenant after a major rehab, so I gave the tenant the benefit of the doubt and had it completely cleaned out.  

Fast forward two months, I get a call that sewage was coming into the tub.  Same plumber goes out at 9 pm.  He swears up and down that there is NO way that this was residual matter from before.  Baby wipes, tampons, prophylactics, etc.  This was all material that occurred in last two months.  Tenant swears up and down that this is not there's. They get into a screaming match in the middle of the road at 12 am. Cops get called.  I just received a $600 bill from the plumber.  So the questions...

#1)  Is there anyway to deal with the tenant without calling them a liar?

#2) Would you foot the entire bill with the tenant?

#3) How do you deal with a plumber that isn't professional enough to keep his cool when he's dealing with an irate tenant?  Should this affect the amount of money they receive?

Thanks a lot, BP.

Post: Website/Business Plan Design Help requested

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

Hello all,

I am in the process of creating a website that would be very beneficial to many types of real estate investors.  The website sells a service that offers a lot of value.  I am in the process of designing the site on paper as to the type of content I'd like on there.  What clicks go where, etc.

I need someone with a marketing/writing background that can translate my notes into effective content and prepare a great presentation for me to give at local REIAs.  I am not trying to be the next guru.  I think I have a great product and I need help getting it out there.  Any referrals?  

To sum it up,  I need a marketing/presentation/writing expert to help me design a website, write content, and coach me how to effectively sell my product.

-Kris

Post: Do you guys get Phase 1 tests done on MHPs?

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

@Joel Owens

@Scott VanHee

@Ariel O.

Thanks for all of your input guys.  I've decided my first course of action is to get the third party authorization and see if Bank of America has not foreclosed for a particular reason (i.e. have they already gotten an unfavorable Phase 1?).  If I can't get any information from them, then I'll get the Phase 1 myself.

-Kris

Post: Do you guys get Phase 1 tests done on MHPs?

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

I will be getting a private loan.  The seller is in foreclosure and doesn't strike me as the type to have ever heard of a Phase 1, but I will ask. 

What can I check with the EPA site? It is NOT in a flood zone. I just checked the FEMA flood overlays. I've read from a few reports that a phase one is just a bunch of research about land use of subject property and neighboring properties. Should I spend the $3k or do MHP investors ever skip this part of the investment on smaller parks like this?

Post: Do you guys get Phase 1 tests done on MHPs?

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

Thanks a lot.

Post: Do you guys get Phase 1 tests done on MHPs?

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

I'm doing due diligence on a park that has 22 lots on 16 acres.   I've included an aerial photo to help.

The parcel with the star is the MHP I'm considering.  The parcel with the arrow and above and below the arrow are ALL owned by this company.

http://www.polydeckscreen.com/

They are some kind of plastics manufacturer.   What would you do?

-Kris

John, 

Welcome to the area. I'm an investor here in Greenville.  I don't have any specific help that I need, but if you ever want to reach out and have some questions, I'd be happy to help.  

-Kris

Post: key to winning auctions?

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

Don't worry about winning auctions.  Worry about these two items.

1) Your ability to estimate ARV. Go look at enough houses such that you can blindly ball park price +/- 2%.

2). Your ability to do basic math and estimate ALL expenses associated with your project/exit strategy.

I've found in my area there are too many inexperienced investors and/or people with different buying strategies that there are no deals to be had at my foreclosure sale.

Good luck.

Post: ARV

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

If you are savvy navigating your local county's tax website, you can pull up all sales-even non-MLS. It will take a lot more work, but doable. MLS will give you the added advantage of being able to view photos of the comps so you know what condition the comp was in when it was sold. Very important.

Post: What is the closest to a foreclosure you've heard of a bank postponing the sale?

Kris FoxPosted
  • Flipper/Rehabber
  • Greenville, SC
  • Posts 74
  • Votes 22

@Account Closed  Thanks for the response.

So, what if I had a screening process for short sale candidates?  (i.e.

"Do you have any tax liens?"
"Do you have a second?" Would you not work with anybody who had a second?

I was listening to a webinar on NAR and a few of the webinar hosts said that a second is not an automatic deal breaker as the long as the second doesn't demand too much and they've even heard of the first giving the second up to a few thousand dollars or possibly forcing the seller to contribute to the second for a couple of thousand.

My ultimate goal was to get some experience and develop systems so I could have an assistant take care of all of this for me.  Is this even remotely possible?