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All Forum Posts by: Mark S.

Mark S. has started 9 posts and replied 511 times.

Post: Basement Foundation Repair - How involved might this job be?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

I am just wrapping up a reno on a house that had foundation issues that required the type of work you might need, judging by what can be seen in the pictures. In my case we punched holes in the foundation just below the sill plate on either side of the house, inserted an I-beam, cranked that up a bit and dug out the foundation underneath. Put a new footings and block, sill plate and set her back down. Waterproofed and insulated the exterior and interior, and backfill. Whole job cost me about 9000. That may be what you are up against.

Post: Room Colors, Leave As Is Or Go White

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

Buy 5 gallon buckets of Behr greige from Home Depot and paint everything but the kitchen and bath with it. Do that with all your rentals and you never have to think about interior paint color, and it looks great with any color trim. White in kitchens and baths.

Post: Pets for more rent or no pets for less?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

No pets. As others have stated, too much potential for additional damage. Plus the potential for complaints from neighbors about a barking dog!

Post: Is BRRRR overhyped in the current market?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@Jordan Moorhead This is extremely difficult to do in the Twin Cities right now if you want to get 100% of your money out. There are opportunities but they are few and far between, and those that do exist tend to be in C type of neighborhoods. I personally have one right now that I am finishing up but may have to dig up the main water line, which will change the picture entirely! A friend who has been having solid and consistent results in flipping in the 400-600k range has recently decided to take a hiatus from the business due to a lack of inventory in the Twin Cities.

Post: Painting cabinets-BRRRR return on investment

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@Valerie Smith Valarie, I would like to connect. We have been looking off and on for property on Amelia.

Post: Normal Wear and Tear?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@Robert Johnston I would definitely not consider it normal. Never had a dent in any of my rentals. I would do as others suggest and check what a fridge with that type of dent would be discounted, document it and charge them.

Post: Painting cabinets-BRRRR return on investment

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@Valerie Smith I haven’t used it but know guys who have and like it. I always install granite

Post: What are your best strategies for reducing maintenance?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@John Underwood I would suggest looking at LP Smartside vs. Hardiboard. Check out various reviews and comparisons on-line. Easy to install, as well. Just be sure to paint cut ends and follow guidelines for gaps. In addition, we always wire the bathroom light and fan together to make sure the fan is running when the shower is used. And put a pan under the dishwasher in case of leaks.

Post: Should I give up on the $5K assignment fee?

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@Moses Brach As mentioned by another poster, tell him you must have a cashiers check in hand within 24 hours or your next call will be to the attorneys general office. And regardless of what happens, that call should be made any way. I have found that people trying to bend the rules or commit fraud really do not like to hear from the state. And believe me, attorneys general really like this sort of thing. It is why they are in office. Might also consider a local news outlet - makes for a good story.

Post: Painting cabinets-BRRRR return on investment

Mark S.Posted
  • Real Estate Investor
  • Saint Paul, MN
  • Posts 522
  • Votes 455

@Valerie Smith Paint with a decent enamel, inexpensive new hardware and if the countertops are not damaged look at the resurfacing pint sold at places like Home Depot. Really inexpensive and looks great. The kitchen will look great. And be sure to keep a supply of the enamel for future touch ups. I always make sure to have extra paint/tiles/grout from any job for future repairs.