All Forum Posts by: Jon Rusnak

@Jotham Busfield the lenders that I have spoken to recently have mentioned that when using an LLC or Partnership as the borrower, the loan is automatically considered a commercial loan. I don't have experience with transferring a property to an LLC after purchase but I have asked a few different lenders to get their perspective. OnceI hear back from them I'll let you know the consensus. To second what @Thomas S. mentioned above, I've also heard that an LLC may not be worth the hassle and that an insurance policy can provide the coverage needed.  

Hello BP! A deal was recently sent to me; numbers look good but it is located out of state in Dowagiac, MI.  The distance doesn't worry me because it is only a couple hours from Chicago.  There is a local property management company that is currently managing the building and I've spoken to them a handful of times regarding their business.  Has anyone invested in Dowagiac and / or purchased a property with a PM in place and used that same PM after purchase?

Any info you are willing to share regarding the Dowagiac rental market is greatly appreciated.  Please feel free to respond here or send me a personal message. 

@Ryan Jang - Can you PM me regarding your property at 4217 W 99th?

@Ari Zartarian Hey Ari - I'm looking at a property in SW MI and would like to get in touch with a property manager in the area.  I saw you mentioned above you have a property in or near Dowagiac.  Do you have any recommendations for a good property manager in SW Michigan?

https://fundrise.com/

Hey @Tony Rusnak, welcome to BP.  I currently live in Palos Heights and am interested in finding a small multifamily or single family in the area. If you see of any good deals let me know. 

@Mike McCarthy @Shaun Palmer

Thanks guys, I appreciate the quick response.  So you would just clean out the PVC pictured and reinstall?

What about the PVC that is still going in to the wall, how far should I be cleaning?

Hey Everyone! 

I recently purchased a single family home and we were getting a strange smell from the sink in the master bath.  The other bathrooms in the house didn't smell and after some research it was recommended that we replace the faucet.  When removing the old faucet I found the problem (see pictures below), gross!  

That PVC piping is the drain from the sink which is obviously going to be replaced. The PVC pipe that is still in the wall does have mold in it similar to the middle picture below.  I'm trying to determine what the appropriate steps are for fixing the problem.  We've talked about renovating this particular bathroom however didn't imagine it would be this soon.  

Questions: 

1. Is there a way to clean the piping that is currently in place (not pictured)?

2. The sink is in good condition other than the fact the drain hole has mold on the rim.  Can I simply clean this and leave the sink or should I replace the whole sink? 

3. If the answer to 2 above is to replace the sink is there a way to do so without destroying the counter top?

Ideally if we can fix the problem we'd like get the most out of the bathroom without renovating it.  What would you do?  

Thanks in advance.

Jon 

@Alexis Guini thats a great idea.  Thanks for the tip!  

I'll look in to doing but I guess if they were savy enough they could do a google search of my name and the area I live in since I disclosed that I recently purchased a home in the same area.  Do you think it is best to not disclose the fact that I live in the area?

Hey BP - for those that have utilized direct mailing to try and find deals, are you including your home address as the return address?