All Forum Posts by: Grayson Gist

@Brian Wilson hey, that’s awesome. I’ll definitely take you up on that! Thank you.

I’ll send you a message

@Matt P. They installed vinyl without any wrap around the house, no flashing at the bottom, didn’t seal the doors or windows, put some j channels upside down and connected female sections together and just slapped a piece over it to hide it.

@Richard Sherman I have their info. They seem very cautious on the phone

@Kevin Dong it’s about 5064 square feet.

The framing is completely soaked. But we can ask the next contractor too.

@Michael Mullins @Jay Hinrichs

Since all of the siding is installed incorrectly we were told they need to redo all of it. I think I need to stop the bleeding before it turns structural

Hey,

I just bought a fourplex in the KC area to owner occupy. I bought it with an agent after using direct mail to find it. The inspector told us “this is the best maintained Fourplex I’ve ever seen”. It appeared that way until we tried to move in. We saw the wall was a little damp in our master closet. We opened it up and called a mold professional, and he said it was too wet for him to treat. Apparently the previous landlord used an unlicensed person to install the vinyl without pulling a permit. Now water is leaking behind the siding. We had a siding professional come out and he stated the siding was all installed incorrectly and not to code. Insurance won’t cover it, my lender doesn’t care, and a lawyer said it’s probably not worth going after anyone.

Does anyone have a solution or direction for me to go? I’m about to lose $30k to fix and reside this fourplex. Thank you.

Negativity is one thing. Blatantly ignoring requested advice from trained professionals in the location you’re buying in is something completely different. But it is your money, and good for you for getting into taking control of your life.

@Maurice Smith I just bought a Fourplex in Kansas City a few months ago. I’ve got a few things for you: 1. HOAs are actually really good. My Fourplex neighborhood has two sections. HOA and no HOA. I bought in the no HOA section and it is so much trashier. The rents are lower and the tenants are far worse. Worst part is everyone leaves their stuff outside (bed frames, doors they broke, toys). It hurts my rent if tenants see the neighbors don’t take care of anything. 2. Raising the rent $50 on tenants that make less than $1500 a month is too much. And they’ll move to the fourplex next door after destroying the unit. 3. Living in the fourplex neighborhood isn’t great for me and my wife. We lived in a nicer SFH before we had to move (PCS). It cashflows great, but we can’t wait to move out. 4. We tore the unit apart once we moved in. The tenant lived there for 8 years and destroyed every square inch, but it looked perfect on the surface. The inspector said “this is the best taken care of four plex I’ve ever seen” even though water has leaked behind the siding and completely rotted the framing of an exterior wall of mine. In other words, I’ll make $1600 a month in cash flow. But no part of me thinks that’s all that matters. And I’m still happy I bought it, but it is a ton of work. Good luck!

I found a fourplex that is in fantastic shape. It cashflows only $600 a month, realistically $300 a month after repairs and vacancy. But the seller is willing to finance the downpayment. I could use an FHA loan to purchase it, but it costs the same to do the commercial loan. Is it alright that I’m going to cash flow less, but my equity will be significantly higher each month?

All great information. I’m calling the HUD authority today to ask them about all of this stuff. Hopefully I can get the unit back up to market rents soon.