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All Forum Posts by: Account Closed

Account Closed has started 12 posts and replied 576 times.

Post: Rehab a house: where to start

Account ClosedPosted
  • Specialist
  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Brianna Bain:

Hi everyone! I have some novice questions so bear with me..

Where does one start when it comes to rehabbing a house? If I’m looking to purchase a property that needs a significant amount of work, (1) how do I, an amateur, even identify what needs work? There are obvious things like paint, but how will I know about less obvious things? Who will I learn this from & (2) once I understand what I need, what’s the best way of going about it? Hiring several contractors for different jobs, or is there a more streamlined way?

Hi Brianna, it's nice that you have an unlimited budget and unlimited time, I suggest you team up with someone who can show you what to do and save you a ton of time. If you want more details shoot me a direct message.

Post: A lot of negative cash flowing properties

Account ClosedPosted
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  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Rich Bultema:

looks like management cost of 11.1% is a little higher than what is standard around my area which is 10% and also the mortgage rate of 4.75% is maybe something you could get down some as well?

Of course I dont know what your credit score is or down payment but I'm in the process of a mortgage at 3.625% on an investment property. or pay for the home via a cash out refinance/or home equity on your primary residence if you have a primary residence and have enough equity in it. rates for primary residences can be even lower, maybe 3%?

neither of these turn a "bad deal" into a "great deal" but it may help

Taxes are only going to go up. There is something out there called "unfunded liabilities". The states and counties and cities will have to raise taxes to cover pensions for firemen, teachers, civil servants and oh yeah, themselves. If taxes are high where you are now, they will only get much much worse.

Post: Kitchen Double Sink Plumbing

Account ClosedPosted
  • Specialist
  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @David T.:

@Account Closed  Good point.  Mine has a garbage disposal.  Perhaps that reduces the possibility of the TEE getting clogged.

 Actually, it increases the likelihood. ;-) Most people don't use a garbage disposal properly and they put things in there that don't belong. But, I looked at one of my sinks with a garbage disposal. It's more like the picture below. Since your stub out is to the right you would swing the pipe going to the wall to the right where ever it meets the stub out.You asked a good question and one I had to stop and think about. Normally the stub out is on the left side.

Post: Kitchen Double Sink Plumbing

Account ClosedPosted
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  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Filipe Pereira:

Hi David, I'm not sure about your plumbing code up north in Canada, but in CT sanitary T upside down like that is actually against code here in CT. My plumber sent me the following image as to how it should be done (one of my kitchens had a similar setup to yours). 

 Actually, his has a garbage disposal. Does your plumber have a diagram with two sinks and a garbage disposal with the stub out in the same location as his? It'd be interesting to see.

Post: Please advise on an unknown leak

Account ClosedPosted
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  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Michael Nahm:


I own a townhome and received a letter from the city it’s in, that the water meter has indicated that there may be a leak at the property.

There was a small leak under one of the sinks and I had a plumber fix it immediately. However, I noticed that the water bill is very high compared to prior years. Even though the tenants are responsible to pay for the water, I find it wasteful for them to pay such a high amount.

I advised the tenants and forwarded the letter to them so they are aware and to inform me of any leaks or water issues immediately.


I’m wondering though, since it’s a townhome, whether the city or the association are responsible for detecting any leaks outside of the home.

I’m probably answering my own question here and going to look into the townhome docs, but would like any additional advice from the sound minds on this forum.

 Most homeowners are responsible for the water from the shut off valve at the sidewalk (or attached to the condo) all the way through to the faucets. Leaks could be a washing machine hose, water heater that has rusted out, a pipe inside the wall that was hit with a screw or nail during construction that has finally given way or the owner or tenant pounding nails into the water wall to hang pictures, or the ice maker hose in the kitchen, the dishwasher hose, etc. If the unit has a basement start there and look for water. It's also possible, someone is using your outside hose to water their side of the grass. ;-)

Post: Kitchen Double Sink Plumbing

Account ClosedPosted
  • Specialist
  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @David T.:
Kitchen Double Sink Plumbing

I just had my kitchen double sink plumbing redone. Does it look right to you? It has a tee between the first sink and the disposal. Thank you in advance for your response.

Looks ok. You have to be able to get the water from both sinks to the "stub out" and since the "stub out" is between rather than to one side, you use whatever "T" you need to get there. He could have used an "accordion" tube but accordion tubes don't meet code for waste water. (Stuff builds up in the folds)

Here is the Wrong Way to do it.

Post: How do I hide property ownership information

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  • OverTheRainbow
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  • Votes 909
Originally posted by @Jay S.:

I'm getting hammered with text messages and snail mail from wholesalers. How do I determine where they're getting my contact information from and how do I go about removing that information?

Forget about trying to remove it, that doesn't happen. However, you could create an LLC that is within an LLC that you have an attorney as the contact. That slows them down. (Just be aware that LLC costs in CA are high)

Post: Where to acquire a dataset of US cities

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  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Adam Tahir:

Hi All!

This is my first time posting here, and love what bigger pockets has to offer. I am located in Illinois and want to zero in on target markets for my first multifamily property. 

I want a data set that breaks it down by county, zip code, median household income, average rent, etc. Is there a place I can find this without having to manually look up each city in Illinois? 

Please let me know! Looking forward to posting more. 

 City-data.com  and Trulia.com

Post: What is the best direct mail marketing campaign?

Account ClosedPosted
  • Specialist
  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Jerryll Noorden:
Originally posted by @Account Closed:

 Lol. No worries. I find your posts to be amusing and those who don't need to find "perspective". ;-)  Also, I am wayyyyy beyond ever being offended by anyone. 

Post: Subject to documents

Account ClosedPosted
  • Specialist
  • OverTheRainbow
  • Posts 607
  • Votes 909
Originally posted by @Luis Alvarez:

Need some help getting the documents for a subject to deal. Any help please? Local mentors?

 Subject To is a lot more than documents. That being said, both Austin and Houston have attorneys who will do Subject To closings. Generally you fill out a TREC with a financing addendum. Then open escrow, order a title report, have a "disclosure" sheet for the seller to sign, set a moving date and record the transfer. Make sure you have plenty of money in the bank so you can make the mortgage payments without fail. Taxes are a big deal and they go up from time to time so plan ahead. Have the insurance transferred to cover your ownership.