All Forum Posts by: Greg Parker

@Account Closed  You hit the nail on the head.  Handyman charges outrageous prices and gives the girl at the PM office a couple hundred bucks for helping him with the scam. 

Sadly, most contractors are crooks.  I have been building/renovating houses for 30 years and it is nearly impossible to find honest, dependable subs.  When you do find one that does great work at a great price-they get super busy and successful and then have to hire more help.  Then, the help is worthless, so you are back to looking for another guy.  And, in my experience, plumbers are the worst.  The best way to find a good one is go to the local plumbing supply house (not big box stores-they are worthless).  Go to the place where the professional plumbers buy parts and tell the guy at the counter what you need.  The counter guys are very knowledgeable and can recommend someone. 

@Dave Foster So, I could say I had to invest more money into the property than anticipated(which I did), therefore it would not produce sufficient cash flow, so I need to sell it and move on??  And, I must have been misinformed about the 1 year holding period.  This is good news.  Thanks!

According to what I have read on 1031, you need to keep the property 1 year and also call it a rental you couldn't rent.  Then you can roll it.  I have the same situation going on with a flip.  I am looking at the numbers and trying to decide if I should hold it for 6 extra months to avoid (not evade) taxation.

Sounds like you need a new property manager, $485.00 for door repair!!  They must have called a plumber instead of a carpenter.  And, they should have had a handyman on-call to address the issue before it came to door kicking. Or, the property manager may have sent the brother-n-law to fix the door and split the money with him. But, the tenant may also be over-elaborating on the facts.  Talk to the tenant and see if they will meet you half way if it half their fault.

I voted!  There should be more humor in BP.

Why are no new homes allowed?  Is it a city/zoning problem?  I am familiar with parks that won't let older models move in.  Usually limited to 5 or 10 years old.  What about RV's?

Use one of the FSBO sites that will get your house in MLS, then be sure to put "agents welcome" on the for sale sign so you won't get shunned by agents.

In Alabama, the way to CYA is hire a professional moving and storage company.  They will move and tag and store it all.  If landlord moves it, the tenant will show up with a lawyer and ask what you did with the millions of dollars worth of diamonds and gold they were storing in the house.  And, also, be sure to kick the back door in so you can say "someone broke in and stole your millions".

 Plug the numbers into my excel sheet and look at cash flow.  Google maps to look for crack houses.  I can usually decide in 10 minutes if I need to jump in the car and do a drive by.  Oh, and average time to have the listing agent return my e-mail- 48 hours.