All Forum Posts by: Jeffrey K.

The are a formal step after a verbal interest for us. I have only used one once as as Bryan said it was on a very large deal. The reason it was use was because I did not want to spend the money on a lawyer to draft the OTP. This was a three building package with 64 units so there would have been a very large cutom rider to the OTP.

What is the address?

That is the middle of the hood!

I would also tell you to hire a GC to help you to understand how much things cost and how they estimate. You might have to do this a few times to get the hang of it.

You could also try a rehab yourself and you would learn quickly what things should cost.

Always replace. I would never mudjack as it does not last and you can often find a cheap flat work crew. The expense is in the material because of gas prices.

Jason the reason I use the Champion 4 is because it has a 4" flush valve, all of the internals are glazed, and it has a 1.6 flush (none of that 1.28 bs that does not break up the poop well). I don't like the "my toilet is plugged up" call.

This is a really bad lease and he should change it as soon as he can. He also needs to get a lawyer to help him out with this case and help him with the paperwork to so it does not happen this way again.

Also $500 for a toilet? I use expensive toilets in my rentals (American Standard Champion 4 $230). It takes about an hour to get one and install one. The union wage in my area is just over $100/HR. This would put you at no more than $350 for a high end toilet with all new materials and even a new angle stop!

I would pass on this. Unless you do low-income stuff for a living you could be in for a 10 unit world or hurt. Who is going to manage this? Can you find any places in a better part of town even if they makes less money on paper? How much is the rehab and how many bids do you have?

You should not change the rule because the unit rents for more. This is why I dont like the "2% Rule." It is not really a rule because it does not work most of the time. The 50% rule is about right. You will be in the 45-55% of Gross for your NOI not counting P&I.

Time Warner offers this service. You can have them install and service it for your tenants. The tenants are given tech support's number. The only thing the owner does it pay the bills.