All Forum Posts by: Graham Mink

In Vermont title searches are done by attorneys. You also purchase title insurance from a title company but through the attorney, who makes over 50% commission. It's a racket. Closings are usually done by the buyers attorney at their office. Good luck with your book!

Hi Samantha,

I am a VT investor and I have never been to one of those meetings either. I would like to go and I think Thursday will be my first one. I would also like to know if there are going to be other people there. Are you definitely attending?

Graham

ps Zillow is worthless in Vermont, not enough data to be accurate and rural areas are not very similar. In my home town there are million dollar houses next door to single wide trailers, this doesn't make an appraisers job easy. (and keeps computers from projecting accurate values)

Hi Anthony,

Vermont is a very difficult state to find comps. Professional Appraisers have difficulty pricing property, especially 5+ unit Multis and commercial property, this comes from a Vermont Appraiser whom I am friends with. One of the main reasons I got my real estate license in Vermont was to have access to the MLS and it's data. It costs me $800/year to keep my license but I feel it is worth every penny. I would recommend you get a license as well, it is not overly difficult, but it does take time, effort, and money.

Graham

Ben Leybovich I agree that the online calculator is a powerful tool, not one to be taken lightly, especially if someone is uneducated in how it works. A chainsaw is a a powerful tool as well, and there are no restrictions on who can buy or use one, but common sense dictates extreme caution when using one. That being said you are always going to hear stories about that newbie who chops off an appendage (or buys a terrible "investment") by taking on more than they are ready for with that powerful tool every now and again. However, if you weren't allowed to use a chainsaw EVER, until you knew how to use it, how would anyone ever learn? I feel the calculators are a great tool for newbies to have access to, how else are they going to learn? Math and spreadsheets aren't everyone's strong suits, and there is room in RE investing for people that would rather not have a masters in finance. Heck, the calculators will make astute newbie investors wonder why the numbers come out that way and maybe lead them into learning spreadsheets. Maybe Brandon Turner should put a disclaimer or warning on the calculators, but he definitely shouldn't remove them. Perhaps you agree and are just looking to stir the pot and bring up another popular forum post, which you have the knack for being able to do!

Hi Kate,

I am a real estate investor in VT and I have done several owner financed deals here at home, on both the buyer and seller side (although mostly buyer). I would be happy to speak with you on the phone about it if you would like, or you can private message me and we can go over things that way if you prefer. It is fairly straightforward and most decent real estate attorneys can draw up the paperwork, but there is some due diligence you should undertake to vet the buyer to make sure they are going to follow through. 

Graham

Hi Aaron,

There are kerosene fired monitor heaters that vent directly outside that you can pick up used on craigslist sometimes for a few hundred dollars. I'm not sure if you already have a boiler or something else that runs off heating oil set up already though. If not then you can fill the oil tank with kerosene (it's practically the same thing) and install one of the monitors I previously mentioned. If you do have a boiler hooked up to the oil tank then I would recommend installing a strip of baseboard heat, on it's own zone, in the basement. You could also use a Modine heater as well, if you have a boiler set up somewhere. Sorry for throwing a lot out there, but I don't know enough of the specifics to make a more precise recommendation.

Cheers,

Graham

I have remodeled several apartments this past summer with wallpaper. After trying to remove it and learning what a HUGE pain it is i thought that there had to be a better way. I ran into a painter friend of mine and he recommended to paint it. I have done just that and if you aren't looking for it you barely notice it. The steps he recommends: 1) carefully peel and/or cut off any peeling or damaged spots. 2) use lightweight joint compound or one time spackle over the damaged areas, let it dry 3) sand the damaged areas to blend in. 4) use a high quality oil based primer over all of he wall paper. 5) paint over primer with two coats of high quality latex paint. Good luck! Graham

Thank you Michelle and Robert for your input!

I guess my question was: "Is having mental health problems considered a protected class?"

Robert you seem to be saying yes it is protected and the more info I find out about them the bigger trouble I can get into. 

Michelle recommended the opposite and try to find out if I can and then trust my gut. Which I agree with but I am wondering if I am allowed to "trust my gut" and say no since they have a mental illness (or problem)? 

I'm still a little stumped about what to do....

Hi Seth,

Thanks for the quick response. It is attractive that their rent is paid for them but it still doesn't address the other potential problems that could come up. If I lose 3 other tenants due to this one does that guaranteed rent look as good? What if I can't get anyone else to move in next door for more than a couple of months?