All Forum Posts by: Account Closed

@Jia Lin. No mam, I may not be qualified in this arena, but  I am not after you or what you have to offer.... But I am more than experienced in your problem.... I get a check for it..... Its hard reading thru everyone elses crap that only see their dollars in comparison with yours.... Um, thats they dollars.... U put yours out here.

I am a free member currently, but you are free to PM me.

Built from scraps.... So I actually know there is a difference between a legacy and a penny pincher..... One teaches, the other believes in others.

One teaches their sons and daughters when they are ready to ride a bike, even if its only gravel that they must know.... The other waits, like a vulture, buzzard, hyena, or the little ant who all wait on others to fail or die to survive, or look for the residual scraps of the perished..... 

And yup. I have seen em all.... Aint made a dime yet,  but whats a dime or a dollar that will haunt you?

Never rode a bike that was paid for, period.

Some folks concentrate on cash flow etc.... But there is a hidden thingy in owning a rentals.... Its called savings....

The only variable that can add to savings is maintenance.... So if its deferred maintenance (can't believe I spelled deferred right! have a 3 day satisfaction rate on move in and 24 hr response during the course of active leases)..... 

What happens is companies get 2 big for their pants ( hire national PM who source) or folks penny pinch their family money....

I know for a fact, if someones family buys a bicycle for child, it may come with training wheels.... 

If that family invests with an adult, that adult has impacted that family to such a degree that training wheels are not needed, because the day either of us was left alone to pedal in life without the training wheels on the bike, was the day life became a challenge at that given moment, personally.

The biggest issue is the air handler.... If its the attic, your insulation needs to support it, if not, or up to date with new units is the coils,  by virtue of how fans work,  the coils will not get sufficient air flowing across them..... In the attic, all of the loose fibers will be sucked into the air handler, restrict the fan blades, etc etc.... This is where the warranty of your contractor really operates.... One should not install until reviewing and contacting the other....

In winter. its more important.... If the electricity passes the code requirements and there is insufficient heat or the bill is too high, something is not installed right....

Admittedly, I see this from a maintenance view.... Well hell, when you own it, what else really matters?

As far as 410 AC goes, its not simple.... All the copper has to be replaced, to and from the inside, and the air handler as well, in most cases, when the low and high pressure side valves are not 410 compatiable.... Basically without the conversion kits, you are taking a garden hose  converting the hose to a fire truck hose with no changes at intake or outlet..... Always will have indications that read wrong.

I do maintenance, as an assistant.... So I've heard all of my supervisors horror stories for the last 10 years, as well as the PM that come n go like a take out window....

Had 3 types of owners. 1) the penny pincher:  2) the legacy builder: 3) the penny pincher.... Guess I mentioned the same one twice, or several the same twice....

Owners are the difference....

If you look at the reviews for the rental giants who buy in bulk and the private buyer there is one thing that stands out.... The private buyer operates within driving distance and generally hires/fires PM until they find someone who is active in the local community.... SO there are 2 names attached.... The owner and the one who has community ties.... Everywhere when I see a contractor that comes from more than 50 miles away to do work on a local investment property, the community sees no trust in the homegrown product.

Apologies, touchy subject for me.... I have had to go behind the outsiders.... Its just a dollar to the contractor's hired crew.... Locally its an image.

@Kerry Baird.  From the posts here on BP I have been seeing that in FL (and probably everywhere else!) your method is the preferred way.... 

On the other hand, I see wholesale deals here and other forums where a property is in FL and someone is seeking to assign the contract.... I only look to this exit when my primary buyers pass on a deal (if they are interested, I pay an agent a flat fee to conduct my business)....My primary buyers pass a lot on deals because they are buy n hold investors, so the numbers are different than fix n flip numbers. Recently, all I am seeing are fix n flip deals, or flips with no fix.

In FL there is the "AS IS" contract, and there is debate on BP about assigning contracts in FL, but one of the debaters who are against it, identified paragraph 7 on the AS IS contract as what they use when assigning contracts.... I have a 2010 blank copy of FL "AS IS Residential Contract For Sale And Purchase" but never paid attention to it because of expressed legalities here on BP. I've only seen that paragraph identified once on BP.

No, mam, not seeking legal advice unless someone is an attorney. 

The methods you mentioned are tried and proven to bring financial stability when the prerequisites can be met, but I didn't mention those methods in my description of wholesaling as I am unable to currently do them.... Others in the same boat I am in are seemingly doing well....  

What motivated me to post this is, my buyers list.... Its different from 96% of what I see here.... They passed on deals in both FL and GA because the rents would not support their all in purchase price and expected returns..... Whereas, for a fix n flip or a no fix n flip, the properties make perfect sense at retail.

Thank you for your input about FL, hopefully others will chime in to help with their regions.

Yes sir there is. @Chuck Dangar. The other side of the coin is reviews of the owner..... Especially those that are posted in the review areas that remain unanswered. 

@Jia Lin.  I have never seen a resident complaint unanswered..... If they want, fix it and tell them the law of agreement of acceptance of the place they leased, document it within 72 hrs of move in and there is 3 days once the lease is settled to correct what they find wrong.... If undocumeted, thats they fault.

Most are concerned with the cost of movin out if they are proactive residents...., They don't want an un stated expense on their credit report..... Its life, SH happens

If you can find a HUD acceptance form, and make sure your properties can satisfy that, they have no legal remedy,whether or not they Hud tenanants......

Consider this, A garbage disposal that at times drains back into the dishwasher.... If the GD aint clogged, the drain line is below the GD outlet. It can takes months before the smell is noticiable....

Crude? Yup?

Answer, when you facing a lawsuit, make sure maintenance aint your family.