All Forum Posts by: Greg Carrier

I agree with your thoughts.  Your going to have tenant turnover in any case from time to time, so if the numbers work there is no reason to back out.

@Yu Chen Don’t overthink it like most of the commenters are. If the prospective tenant checks out your good to go

That cost is decent for labor if you consider the normal replacement window is in the $120 - $160 range that puts you at $300 a window installed.  @David Nino is correct on Window World - we have used them a lot in the past.  Basic price is/was $300 but they need an additional $50 or so for exterior wrapping if needed and an additional $50 if they find lead in the house for proper disposal.

@John Casmon  Sorry for the late reply.  I would say two things drove this deal south.  1, lack of due diligence concerning inspecting the whole property - there were issues that were not found that may have been with a more thorough inspection, and 2, too many chefs in the kitchen and none of them actually responsible for how things turned out.  I think 2 is corrected now so with any luck this thing will turn around.

@Mindy Rowe I’ve done one deal like this in my life. From a guy who was a very successful investor. He is now in jail for violating SEC regulations. I got a dividend checks for the first 2 Qtrs And then they stopped. The current value of my investment is about 10% of my original investment as the property problems were far above what were expected and larger amounts of debt was needed to bring the complex up to speed. Five years later it is still losing money

@Bukka Levy Because why buy a turn key rental when you can buy a REIT or an index fund and get better return, less risk, and higher liquidity. It's like buying a diet plan on late night TV. You're not going to get the results you think you are.

@Shaye Mora All depends on the market. In my market we need 2% minimum for the houses we do Which are on the low-end

@Vu Tran I would let them extend. They may extend again and I really have no problem renting houses anytime of the year and I am in northern Indiana.

@Joe Donohue.  Do you have any documentation or actual experience in making a claim for damages as a tax sale buyer?  I have been doing this for years and have never heard of that.  Also how can one possibly make a claim, if you have not actually been in the house to assess the value of it.  This really would be nice due to the fact (as I am sure you know) that tax lien holders have no insurable interest in the property.

@Ben M. Yes to both of your questions. We re-create drawer fronts all the time our new houses we buy that are missing them and also if renters break them and very often we have to lay in another piece of Louan over the rotted underside of the sink. If you’re using vinyl flooring cut a piece to match and put it over the little one so if it leaks again you won’t have to repair it again