All Forum Posts by: Karthikeyan S.

Is it ok to buy multiple rental properties, manage it through a property management company and earn rental checks without violation of H1B conditions and still try to process your GC?

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Originally posted by @Frank Hinck:

@Karthikeyan S.

Contact the city find out when roof was installed if 20+ years get a replacement price. 15 years of it looks bad try to get $3k knocked off.

Frank- Thank you! It helps me a lot as a first time buyer.

This is a SFH property built in 1999 (Georgia) and as per seller roof was changed in 2012.

Are you saying if it's 15 years old, knock off $3k.

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I have requested the seller to fix all findings in the inspection report including roof shingles. I am sure they will come back with a credit as there is a tenant in place.

Being a first time investor, I would like to know what all factors or costs I should consider when negotiating for the credit.

I can think of factors like paying a % to Property Manager, overhead expenses in coordinating the effort. Not sure if roof shingles can be replaced when tenant lives there. There can be many other hidden costs which I would like to factor in.

Any suggestions?

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Originally posted by @Steve Morris:

"Is this a major item and should I negotiate on price or request the seller to fix it."

Moisture invasion is a major issue (ie the longer you wait the more it costs) and roofs are not cheap.

Get a roofing contractor to tell you if you can get a 5 year cert. If not, get a quote and start negotiating with the seller.

Steve-

Thank you for the suggestion. I will see if I can get a quote or cert.

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Originally posted by @Jaron Walling:

@Karthikeyan S. Thank you for the information.

Did you personally view and inspect the property before making an offer? -----No

Most properties with a roof older than 10-15 years will come back saying that. It not really a big issue unless it's leaking somewhere inside the property. The report doesn't say that so good luck negotiating a lower price. ------As per Seller roof was done in the year 2012. Surprised that inspection came out with such a comment.

I would be more concerned with the current tenants. How much, when, and in what form are they paying rent? Have they missed payments before? Are they decent people with good jobs? It's harder to manage tenants that already occupy the property.

---$1300 and Property management gets it through their portal.Haven't missed any payments before.

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Inspection report says :

The shingles appear to be nearing the end of their serviceable life.

Sealing of all roof penetrations is recommended.

Is this a major item and should I negotiate on price or request the seller to fix it. This property is already rented out. If negotiate, how should I arrive at the number.

Any thoughts ?

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All Forum Posts by: Karthikeyan S.

Karthikeyan S. has started 4 posts and replied 17 times.

Post: Real Estate License On H1B

Post: Real Estate License On H1B

Post: How to negotiate when there are findings in inspection?

Post: How to negotiate when there are findings in inspection?

Post: How to negotiate when there are findings in inspection?

Post: How to negotiate when there are findings in inspection?

Post: How to negotiate when there are findings in inspection?