All Forum Posts by: Joshua Pavao

Not sure specifically what they classify as cloth wiring, my realtor has done the majority of Communication to the insurance. I couldn't see anything that looks like clock wiring in these pictures that were sent to me either, although I'm not exactly sure what clock morning specifically looks like everything in the photos that was sent to me seemed like normally insulated wires. It is comforting to hear that that isn't exactly a normal occurrence though, I don't have and insurance company that I am loyal to at the moment since this is the first property I'm purchasing and I plan to do some more insurance shopping after purchasing this one, timing is just getting tired at the moment foreclosing. I hope to have an update from another insurance company tomorrow morning

Hey everyone, just curious if anyone has run into this before,

Currently have a property under contract in Broward County, Florida, and once the 4 point was sent to the insurance company they said they do not have anyone that covers active cloth wiring. Is this common? 

I currently have someone else working on a binder to see if  they'll cover it, but just wanted to see what others have dealt with in this topic.. the small research that I've done on cloth wiring has shown that it doesn't seem to be any real hazard or even necessary to replace unless if there are apparent issues with the wiring.

Hello BP'ers,

I am in search of a lender that has some more leniency than that of a "big time" bank that has to follow freddie and fannie rules.

I'm looking to purchase a live-in 2, 3, or 4-plex multifamily in Miami Dade County and I'd be happy to get into more detail once in touch with the right person.

Any referrals would be fantastic!

Thank you!

I'm also interested. Keep us up to date please!

@Tracy D. a part of me is just hoping that I can break the lease and be done with the place. Sort of thought this would help my case but I may very well be wrong! I'm sure if I was enough of a pain in the a$$ and contacting the PM, that it would get fixed. I was merely hoping the negligence would get me out.

@James DeRoest Thank you for that.

Also thank you everyone else for your responses. I will consult legal advice in my own state and see where it goes!

Hello BP, 

I'm curious if a tenant in Florida can break a lease due to an A/C not being repaired.

Firstly, I am the tenant, and have been having some problems with maintenance. I haven't exactly been a nuisance about it but I have been wanting to break my lease here anyways and I'm curious if this is a reason to legally do so and not lose my security deposit.

So to give a brief background, we've had horrible experiences with anything maintenance related and anything done has been a hackjob. For the area we live in and the price we pay, it hasn't been acceptable.

In November she sent an A/C technician after weeks of telling her about an issue. The A/C has been operating poorly and leaking A LOT inside the house. I first noticed this because my ceiling was dripping water and the sheetrock began to crack. The technician serviced it and immediately told me that he is going to tell the property manager that the compressor needs to be replaced. That's where it was left at. 

From then on, all of our conversations have been via text message, so I'm not sure if that is "legal" or not but here is how our basic conversations went:

On December 1st 2015,

Me: Good morning, just so you know, the AC is still leaking. It's creating huge puddles on the floor and about to start going through the ceiling again.

PM: uhhh, let me send someone

No one was sent. 

January 1, 2016

Me: Hey, just wanted to let you know the A/C has still been leaking. I have a bucket catching the water now and have been watching it

PM: Ok, let me send Juan

Me: Okay well we aren't home at the moment so let me know before he's going by please

PM: Ok

Once again, NO ONE was sent.

March 6, 2016

ME: Hi, our A/C is not working.

PM: Ok, I will send someone.

have you guessed yet?... I still have yet to see anyone to fix this.

At first it wasn't a huge deal because it worked "okay" but leaked a lot, and winter time in Miami I can just open my windows and its nice enough. Well now the A/C no longer leaks, but it also does not work whatsoever, and its getting warmer and warmer fast.

I don't want to cause a huge fuss and b*tch her out or be a headache tenant. I want to approach this by basically saying, "Hey, you aren't upholding your responsibilities, I'm using this last month for my last month's rent, I'll be out in 30 days and I expect my security deposit returned."

Is this possible? Regardless of the A/C being fixed, I want to move and break the lease. Any info or resources to info is appreciated!

Thank you!!

Edited

Everything you listed as "risks" for flipping can very easily happen on a buy and hold property without the proper education (purchase too high, go over rehab budget, over rehab/ under rehab).

There are definitely investors purchasing non rent-ready buildings so a rehab budget comes into play, as well as knowing what materials are best and more sturdy since over rehabbing things for them to be ruined after one year may be costly. 

In my opinion(just like you saying 'flipping is the riskiest' is just an opinion), I believe it's far more risky to be uneducated than it is to take calculated risks. 

Educate yourself thoroughly in whatever you're doing, and even with flipping houses, having success like J. Scott has had really isn't that far off. 

Going to follow this. Hopefully we compile lots of different options for rent collection!