All Forum Posts by: Jay Hinrichs

@Brent Ludwig 

  is that I AK               we are trout fishing nuts out here on the west coast.. I fish the Deschutes annually and Montana we caught a nice stone fly hatch this year on the bitterroot.

And I do British Columbia for still water.. its fab up there.   make  it west some time you will not be disappointed.

Short Answer NO

@Rick H. 

This is interesting and probably should be a different thread.. But yes what happens when unbeknownst to you some one quit claims a property to you?  As you state only one person signs the quit claim deed. from my experinces in many states.. some title companies will insure others don't like them.. Like here In Oregon quit claims and you play hell getting title insurance down the line.. But down in MS were I do some work Quit claims are the deed de jour and no issue.

Same with some one who is under water.. does this mean they can just prep a deed In lui and run down and record it... there must be some case law on constructive receipt of said document. but its an interesting thought

But who would have thunk we have so many properties in the good OLE us that are worthless and worse than that beyond worthless.

@Wendy Lavana 

 this is a good lesson for those that think they can turn C and D into B class. its like trying to marry someone and change them AINT going to happen .. with these tenants and really any tenant you need to follow Jon's advice .. Now to be fair I am the worse landlord in the world and I don't do it anymore because I fall for all the B/S stories.

Your scenario is really normal if indeed your C and D class does not get anybetter over time. The people that will want to live in those areas will all be the same. You cannot vette out great tenants and expect them to live with crap tenants not going to happen.

I would sell and next time buy nicer stuff so you don't have to deal with this.

@Victoria Bonhomme 

  Not an expert on that market by any means other than I spent a few winters there before the GFC and made a few offers to buy properties.. I see PS as two markets one the Country club set.. And views by and large are not important its more where your at on the golf Course.. then the older area of PS.. from what I saw there .. view properties are limited except Hope's big house. I would definitely talk with good local realtors to decipher wether a view like this will command more money per sq ft.... Lots of money in PS so if you have the right place and someone wants it well you could do very well... good luck

I loved the good ole days with the big plat maps... I still have most of mine from the counties I used work just can't let them go.

@Stephen S. 

  Well there is always the thought to have the fire department burn it down for practice.

We do that quite often here in ORegon if there is no asbestos in it.

But then again if its anything like Detroit the fire department probably does not need any practice  ....

What an absolute nightmare... the water bill is insane.. I had the same thing happen to me on one of my OREO's in Detroit by the time we got it back 4k in back water.. the tenants basically never pay the freakin water and the city won't turn it off. 

There is a lot more to know about owning rentals in these bigger cities that are strapped.

@Jon Holdman 

  I hear ya my experience is not replacing them When I was buying rentals.. And it was a tree lined street or big tree in yard and older pipe 20 years or so.. I replaced them procativly. So we did them with our rehab... and just ran a new service and abandoned old one. and this was in Mississippi  were the streets did not have side walks digging was easy and it was a simple matter of a ditch witcher and lay new pipe and a sewer tap.

In PDX its customary to spend 3 to 4k replacing an existing one so that is much more in line with what you experienced.

Having done a lot of business in the rural areas and having dug my share of wells and built my shared of septic systems.. It used to be in the day we could do a standard system for 3500 to 5k  that was 20 plus years ago.. they are now 10k and a mound system will be every bit of 20k... So just another thing for an investor to know and plan for if they are buying rural properties for rentals,, and or second homes or primary.. Septic cost money when they go bad

@Sean Pincus 

  Sean wish it was that good out here in Portlandia  24% is rare.. 10 to 15% is customary

I just hit a 20%  and I have bouncing off the roof with Joy !!  closes Friday

@Jon Holdman 

  the hypothetical sewer problem could be a failed septic sytem that now needs to have a Mound system or other very expensive system put in ... Very common for Mound systems and other alternate systems to cost well in excess of 20k.. Agreed on a simple sewer line to the street.. most are 1500 to 3k in my experience a 6200 one would be top of what I have seen. unless it was a very long run or very deep