Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: John Lee

John Lee has started 47 posts and replied 90 times.

Post: Can i purchase in cash refinance in my name then transfer to llc?

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12

I'm purchasing a property off roofstock so there is a tenant in place. Can i refinance in my name  then transfer title to llc?

Post: rental unit Porch Post

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12

might just turn it into a bed room

Post: rental unit Porch Post

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12

original post look like this

Post: rental unit Porch Post

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12

I'm acquiring a rental unit with an odd porch post repair, if i was to repair it to original condition what would be the cost? I do like the idea of replace all the post with white wood post or dress them in fypon for an updated look.

Post: Buyer repair request

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12
@Mike Cumbie the quote for the sceptic tank and distribution box is $375

Post: Buyer repair request

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12
Originally posted by @Peter M.:
@John Lee It looks like the buyer just took the inspectors recommendation word for word. A lot of those requests are BS. First I would just try to do a price concession for all of it. 500-1000 seems appropriate. Maybe offer to pay for a home warranty if they balk at that, 350 bucks well spent. Otherwise most of that stuff you could do yourself pretty cheap. Probably should I install a CO detector asap but that's cheap and easy.

I already give them a $600 home warranty. And since there is no fire place, my agent said the CO detector is not necessary. We just replaced the condenser, so A/C inspection is also not necessary. 

Post: Buyer repair request

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12

This is my first deal, and I'm in a buyer market. Some of the request seem to be simple fix and trivial. What i need to agree to and what can i get away with without the deal fall through? I like the idea of just reduce the price or write a personal check of $500 to the buyer to do this fix themselves or do what they want. But my realtor does not like this.

1. Downspouts: Aluminum: The downspout at the right of the garage door is damaged and clogged with debris. Repair by a qualified contractor is recommended to allow proper drainage and prevent overflow that can damage surrounding building components. 

2. Interior Lighting: The overhead garage light in place of outlet that controlled garage door opener is inoperative. Further evaluation by a licensed electrician is recommended. 

3. Leader/Extension: Splash blocks or gutter extensions should be added to bottom of gutter downspouts to avoid erosion near the foundation. There are currently no gutter extensions or splash blocks installed at the downspouts, which are installed to prevent rainwater from emptying next to the foundation and possibly causing damage to the foundation. Areas where erosion is present due to emptying gutters (Rear patio, Left Corners) should be filled in to avoid trapping rain water when extension or splash blocks are added. Repair is needed. 

4. Carbon Monoxide Detectors: There are no Carbon Monoxide detectors installed in this house. This could be a potential safety hazard and should be evaluated further by a Licensed General Contractor. 

5. Main Hall Bathroom Faucets/Drains: The sink drain is damaged and does not hold water. Repair is necessary to be able to fill the sink if needed. 

6. A/C inspection by a Licensed HVAC Contractor for a full evaluation of the unit- Needs to be set on new pad and serviced. 

7. Heat Pump Split Unit AC System Condensate Line: PVC: The line should be extended away from the house where it exits the wall behind the heat pump to prevent condensation from emptying next to the foundation. Allowing condensate to empty next to the foundation can weaken or cause damage to it over a period of time resulting in costly repairs. 

8. Bathroom Fan Venting: Area around master bathroom vent exit needs to be evaluated for gaps by a qualified contractor. Wasps were noted in this area above the soffit. Pests inside the attic can be hazardous and damage building components. 

9. Whenever a roof surface abuts a vertical wall, moisture intrusion that may lead to damage and rot becomes a risk at the intersection. Installation of kick-out flashings address the risk but are not installed on the house. Further evaluation is needed by a qualified roofing contractor. 

10. Septic needs to be pumped and serviced. Septic distribution box needs to be fixed.

Was looking for real estate around 33610, and  I found this gem in listing. I guess maybe i should look else where. Price is all out of wack

I was seeing a property listed for about 3 months by a real estate agent (specialty in property management). The listing is kinda out of wack. Now I see the same property post by a  professional wholesaler group. If the seller decided to go to wholesale route, does the listing agent get anything? Can i negotiate with the listing agent for a sweet deal so the listing agent working in my favor for the deal. I don't know if the agent working with the wholesaler or not. 

Original listing price $160k

Wholesaler price $134.5k

ARV (from wholesaler) $150k (my arv is lower)

I'm thinking of coming in with $110k cash offer 

Post: Transfer 2 rentals SFH title to parent

John LeePosted
  • Tampa, FL
  • Posts 115
  • Votes 12

The parent technically own the rental properties but the title is in the kids name. When the kids want to transfer title back to the parent, is it consider gifting in the tax code? and will there be tax consequences? Both houses are in florida