All Forum Posts by: Jeremiah Dye

My Fiancé and I are in beginning negotiations with a current condo owner in the Miramar Beach/ Ft. Walton beach area, to purchase for a short term rental/vacation rental. We’ve looked at AirDNA, but want to make sure those numbers are close to correct. Would any property managers be willing to give their opinion on an off-beach 2 bedroom condo would do on average? Should we focus on vacationers or traveling nurses, snow birds, or all of the above?

@Wy Kay seems like there’s a lot that people have to say about this topic. My advice is no. Is your life or another human’s life worth the rent you’re collecting? The stories you see on the news is the exception, not the rule. You’ll never see a headline “landlord successfully collects rent and not robbed”. If someone wants to rob you, they’ll “get the drop” before you can pull that pistol out. I have an anecdote, in OKC an off duty veteran sheriff’s deputy was making the nightly deposit for a restaurant. Robber came up on him before he knew what happened. He didn’t pull his weapon, just handed over the money. Robber was caught. And no one died. Situational awareness is your best protection. Feel uneasy? Have renter send a money order, I know land lords that now have tenets ApplyPay them rents. Or maybe, sadly don’t be in those areas.

The consequences of having a firearm usually outweighs the one time it’ll be used for defense. A firearm is 43% more likely to injure/kill someone you know than actually used in self defense. If you do carry, respect that firearm and understand the consequences of every action. Like my grandfather always told me “it’s not a toy”.

@John Mocker well my friend, before the association could begin the new project( installing a dry well with a back up sump pump) we just had another heavy rain. Unit owners that took water again tonight are wanting the association to pay for damages and water removal again. We just met with one investor owner who had the most damage, due to his tenant telling us there’s no issues, he failed to inform owner for 2 weeks, owner then waited an additional 2 weeks( because he was going on vacation and couldn’t make it). Guess what? Mold!

You said that “if the association failed in doing something” it would be responsible. The current board is made up of new owners, so we don’t know the issues. Apparently this has been an issue in the past and new drainage was installed which was adequate until these 2 instances.

The owner with the tenant told us tonight that his father had sand bags around the front, where the water came in. They removed them and admitted “they shouldn’t have”. They inherited the unit.

We will now be getting advice from an attorney. While we’d love to help everyone, we’ve got a duty to keep monthly dues down. And as a homeowner, no matter the property, one has to take responsibility for issues.

Jeremiah

@John Mocker the board just had a meeting, the president went forward with having Servpro to dry out the units (4 total) and told the owners the association would pay to have the engineered laminate flooring replaced. And discussed what to do regarding not having this happen again along with the “elders of the board “ not wanting to make an insurance claim.

I was against paying for any damage because how is the association responsible for heavy rains, until I viewed the area. The units are on the bottom side of a hill with 2 other buildings above them. Those buildings have all their rain water dump down the steep hill and in front of this building. It’s not so much the association at fault, it’s the builder. And good luck on getting that.

I am on my Condo association board and over the weekend we had heavy rains which caused flash flooding here in Colorado Springs. A condo homeowner got some water into her unit and wants the association to pay to clean it up. I’m new at this, but I don’t think flooding/ heavy rains is the association’s liability. Unless one of our gutters was aiming directly at the front door( which it isn’t). Has anyone ran into this before and can give feedback? I’m afraid if we are nice and do this for them, then it’s what we do and have to do it for everyone. I do think the association can act prudently and start a project to ensure rain water runs off and this doesn’t occur again though.

@Alex T. Calling your insurance company and letting them know would be a good idea. I do believe they’ll represent you and are more knowledgeable.

Has anyone bought a property that's been badly damaged and needed to be razed to build new? I'm specifically talking about multifamily. I had seen a 4 plex that had caught fire and being offered up for $10K, so it'd be buying the land and building something to my specs. Yes, I understand I'd need to check zoning and such.

JD

Thanks Rocky. I did see the downloadable material from the state.

I am selling my home to relocate and a friend has said he wants to buy. We’ve verbally agreed on a price, but we both really aren’t sure of the process. Someone suggested we hire an agent, broker or attorney to guide us. Is there anyone out there in the Oklahoma City area that would be willing to provide this service for a flat fee? Time is kind of critical, as I need to start putting in offers on places in Colorado, where I’ll be relocating. Regards, Jeremiah

Hello all! I was just thinking before I go to a new small bank and inquire about financing and opening new accounts, how important are the clothes I wear? Let me tell you about my everyday work attire, I’m blue collar, I’m a commercial refrigeration technician, I wear a uniform. The uniform is clean, tucked in, and I have a good appearance. I don’t dress slovenly for work. Should I change things up when going to inquire about loans, accounts, etc.? Polo shirt and khakis? Even though I turn wrenches, I earn a lot more than expected. When most people enquire about my profession and see my W-2’s they’re sometimes surprised. Should I dress more “white collar”? Should I treat it like a job interview? As in, dress for the job you want? Jeremiah