All Forum Posts by: Justin Dziedzic

There are lots of mold test kits available if you have doubts. But at HD, Amazon or even Walmart. Surface prep and eliminating the moisture are the most important steps in the process.

For sealing in stains like that (if is from smoking), use spray paint and then normal paint over top.  Kilz should have also worked.

It's impossible to tell from looking at a picture exactly what that is but do the spots feel wet? Are there pipes or plumbing that run above the area? It's possible there are leaks. You could use a moisture detector to test the area in question. If it isn't mold it could well turn into in to mold if  constant moisture is present, especially if the drywall isn't the mold resistant type. 

Usually mold has a particular musty odor associated with it, and It's possible the leaks occurred after the inspection as well. But my first step would be to check for the presence of water. 

Yes it can be annoying. However, doing everything up front on the phone doesn't mean people aren't going to waste your time anyway! If it makes you feel better, 2 months ago I was showing my studio in Fort Lauderdale. One of the days I was showing it, I had 3 no shows/calls, 2 people cancel last minute and 1 guy that showed up very late and said it was too small (mind you the square footage is listed there as well).
You got to take some lumps to make money in RE and it is not always passive (unless you get an amazing PM, another rarity).

@Justin Dziedzic spamming or no spamming, people don't need to answer lol

Honestly, even if it says in your ad about the "credit score, 2.5x income, no evictions, blah bla", people are going to either not read or think they are the exception. My advice is have a phone conversation before they come to view the property and do a whole application. "As I stated in my listing, I need a minumum credit score of X and minimum documented monthly income Y....." among whatever other factors. That'll save a lot of headache. If for example they fill out an application anyway, just let them know why.

In most states it is required to send an adverse action / notice of denial of some sort, with details on the reason(s) for denial and details on how to obtain the credit report (or just credit reporting agency) on which the decision was based. True that a co-signer cannot be evicted; however, they can be held liable for any monies owed should an eviction be required. They can also put pressure on your tenant not to do anything that might cost them money or cause them a credit issue. If I accept a co-signer, I increase the security deposit to the maximum allowed in my state (2x rent). I also require 3x rent as income or a housing voucher, but do not have a minimum credit score requirement. Instead, I let the credit score (and other factors) determine if the security deposit requirement will be 1x, 1.5x (default) or 2x rent. More so than credit score, I am concerned with non-medical and non-student loan collections, liens or judgements, service-related or small collections, prior evictions and recent criminal activity. I do not care about medical or student loan collections, because you're going to the hospital when needed and a person should try to better themselves through education - both of which are predatorily expensive.

Quote from @Justin Dziedzic:

Hi all, 

First, I want to thank this community and everything y'all have done for folks such as myself who have just closed on their first deal. I purchased from a family member who will be moving out by June. The issue is, I have a bit of rehab to do to get it ready, as she was a heavy smoker. I purchased an ozone machine, will be redoing the carpet, painting with Kilz primer, etc. Anything else anyone can think of from that perspective to get rid of smoke odor? 

My next question is in terms of liability - specific to PA. The home is located in a flood plain, albeit the very, tippy top edge of it, and has never flooded in its lifetime, however it still required flood insurance. I was able to get private insurance at only $700 per year so even with that expense the property will cash flow nicely. My question is if anyone knows that this has to be disclosed to the renter? Are they required to carry their own renter/flood insurance in PA? I couldn't find this info. 

@Justin Dziedzic congrats on your first property! My advice on the carpet is get rid of it! It is generally not worth saving or having in a rental. Tenants generally don't take care of it that well. Depending on the property itself and location, you may want to go with higher end vinyl or laminate. It is not too expensive and is much easier to keep clean. 

Regarding the renter, they need to carry their own renter's insurance that also covers flooding as a potential hazard. You should require this and outline it specifically in your lease. I am not familiar with PA laws if you have to disclose that you're in a flood zone so hopefully someone on the forum can help with that.