All Forum Posts by: Mark Langdon

State Farm has worked for me in the past along with a large umbrella policy

Wish you were up North more Jeff as I have a 3-1 cape that I would love to add a full bath dormer. The ROI sounds like its well worth it. I wonder what the cost difference would be to put the dormer across the whole back side to include the upstairs bedrooms on both sides and if that would be worth it.

Need to replace all of my white cabinet kitchen cabinet doors in a rental that are peeling and beyond repair. Where's the best place to get these ?

Yes; count me in ! Thanks for putting this together again.

Don't get caught short; and build a relationship with a realtor especially when you are just starting out. It takes time before you really know your area well to try to estimate numbers on your own or trust zillow etc.

Mine are higher end so it's always granite and SS appliances to get the wow factor.

You can savemoney and I always ask after I get a proposal from a contractor; "How about I pay you in cash ?". Some guys lower the price and some don't. I don't ever give cash up front and I always make sure they sign a receipt or the contract/proposal indicating cash was exchanged. It's better also if you have a working relationship with them already. I don't see anything wrong with it and I save money.

Go for a large umbrella policy. Its actually pretty inexpensive. Especially if you have a number of properties that it will cover.

You did the right thing to fire the contractor. Your a great negotiator also. Watch you don't over improve. Keep us posted.

My very first purchase 20 years ago was a foreclosure that when the sheriff came to force them out; he locked himself in the bathroom and blew his brains out. We got a really good deal as No one wanted it. I had to hire a special cleaning firm to clean up the mess. My first proposed tenants found out and backed out of the deal after they gave us a deposit. I returned their deposit but the next tenants took it for 3 years. After that I have had no issues and all is forgotten. I would get a discount as it's early and it is fresh in people's minds. If you sell it right away it may be tough so get it at a good price. If you Buy and Hold after a few years all should be forgotten and you should be fine to rent it out. I own it free and clear and it cash flows beautifully.