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All Forum Posts by: Gregory Montalto

Gregory Montalto has started 12 posts and replied 33 times.

Post: The ethics of buying a used HVAC unit

Gregory MontaltoPosted
  • Property Manager
  • Richmond, VA
  • Posts 34
  • Votes 5

Today while looking at a property in a questionable part of the city, I came across a house that had a security camera mounted to the top of the HVAC unit outside. In asking about it, the realtor said this was common in the area due to metal theft (copper pipes in same house had been cut out, etc).

I asked if they sell the units for scrap metal - and he said "No, the thieves sell them on CraigsList. Soon to be foreclosed upon home owners and disgruntled tenants sometimes sell them too, as part of their process of trashing the house".

Is this practice common everywhere? And the question that no one wants to ask out loud, can you actually get a good deal on a "used" HVAC unit off CraigsList?

Post: You have the keys. What do you do first w/ rehab property??

Gregory MontaltoPosted
  • Property Manager
  • Richmond, VA
  • Posts 34
  • Votes 5

Here is one article that has some helpful advice.

http://voices.yahoo.com/how-demo-home-plan-flip-profit-2421820.html?cat=6

Here is the order in which I like to pull a house apart:

  1. Remove Trash, Rubbish and Appliances
  2. Remove Carpet As Needed
  3. Make Sure Water Is Turned Off
  4. Pull Countertops
  5. Demo Cabinetry
  6. Demo Bathrooms
  7. Remove Any Doors That Are Going to Be Replaced
  8. Remove Any Trim It Is Going to Be Replaced or Is Damaged
  9. Remove Any Windows That Are Being Replaced
  10. Remove Any Sheetrock That Is Damaged or in the Way

Post: You have the keys. What do you do first w/ rehab property??

Gregory MontaltoPosted
  • Property Manager
  • Richmond, VA
  • Posts 34
  • Votes 5

Situation - You've just closed on a new property. It needs significant repair / renovation work. Your goal is to fix it up and have it rented or on the market as soon as possible.

What is the very first thing you do when you get inside the building, ready to get the work started?

Begin demo, start creating a punch list, pat yourself on the back with a celebratory cocktail? All of the above?

What else?

Describe your process when you first get the keys.