All Forum Posts by: John Korn

Interested as well if still open. 

Does anyone have any suggestions on insurance for a flat roof 4 plex in pennsylvania? I paid 70k for it, replacement cost they gave me was 450k and paying 2700 annual. Seems high I think, not sure as it's my only flat roof property. Are there other companies you would recommend or is what I'm paying normal?

Thank you everyone for the advice, a lot of really options I didnt think of.  I ended up just keeping the deposit and let them go.  @Erik Whiting really good material...appreciate it. 

@nickwgraham if for any reason tenant breaks lease they have to pay 2 additional months after they leave. 

I have a tenant that paid security deposit and half months rent on house they didnt see in person as they were moving across country, lease signed as well. They get here and apparently cant fit furniture upstairs and want to go somewhere else. What do I do?

I have 2 month penalty in lease...do I enforce that? Just let them go?

Thays great info @Patriciasteiner. I haven't worked with this guy before, trying him out.  I've typically acted as my own GC in past but have too many projects going on at once to continue that.  I need to do better like you said to have written timelines for each aspect of renovation.

I have a contractor in charge of a complete rehab on a single family home and I was wondering how often you communicate/stop-in on and meet with your contractors?  He is moving at a slower pace then I would like for sure and doesn't follow up as fast as i'd like.  

How hard to you start pushing them and micro-managing?  

As stated I'm looking to cash out refi some properties that I've finished rehabbing. Properties at this point are single families that are under $75k and looking for a 30 year term. They will be under my LLC. Please advise. Thx

@Savannah Lewison I agree with the above. The rent numbers are not realistic based on the location. The Insurance numbers are low too especially with the flat roof, your looking at $2k +. And, if you plan on BRRRR then you'd maxed out in LTV. I've seen much nicer triplex's in nicer areas go for same amount.

I didn't end up buying the place that needed it but I believe it was safeescapeways.com