All Forum Posts by: Matthew M.

Quote from @Kevin Sobilo:

Quote from @Greg Scott:

Quote from @Kevin Sobilo:

You disagreed but didn't say anything that was pertinent. You seem to think because you got away with doing something wrong and didn't get fired that its all ok. So, if the tenant did that and got fired, you are the landlord would compensate them for the loss of their job?

There is nothing in the original post that stated the resident's situation was anything like yours.  My employer never had such a requirement.  Declaring that I did something unethical, with intent, was an poor assumption. 

My son has worked remotely in IT for years, and none of his employers have had that sort of requirement you do.  Your specific job requirements appear to be an outlier.  This resident likely had more options.

My point is residents will make bad decisions and try to blame someone else.  We recently did a sealcoat project at one of our properties and a resident walked across the wet sealcoat.  They called the office asking for us to buy them new shoes.

Your response was in response to mind where I talked about why an employer would require something like that. So, I didn't assume you were talking about doing something unethical that is what you were saying. You made no other point in your response other than you got away with doing it. If that isn't what you meant to say, you really needed to elaborate and say something more coherent.

Working in IT would be less likely to have that requirement as you are less likely to be dealing with people's personal private information. So, that is not a good indicator. Also, my employer is massive so this requirement is certainly not an outlier.

If you read my response you will see I agree the poster is not responsible, but not for the reasons to cited.

BTW, in your example since you didn't mention having signs up about the sealcoat (the one very pertinent detail), then of course your office would likely be liable to pay for their shoes. If you erroneously forgot to mention the signs, then you can see how I didn't make an assumption about you doing something unethical in your previous example as you have a habit of not making clear points and including the most pertinent information. 

Kevin, I disagree with you.  Mainly because you remind me of the unsavory individuals I have had the displeasure of meeting.  

You talk too much but make very little sense; you are quick to criticize and you have the stink of gaslighting about you.  I don't trust you or your opinions from the moment I saw your first posts on this forum.  I just wanted you to know that yet another person sees who you are.  

Wasn't expecting this to come up.  The house still appraised for over sale price but I was wondering if this could be used as a negotiation moment or am I SOL?  10% is a decent amount to be off by.  

I know, it's a long shot, since typically appraisal contingency only covers a situation where the appraisal is lower than the sale price.  I am still happy with the price even with a smaller than expected sq/ft.  

This is why my first property is literally down the street from me and my contractor lives local and known him for years.  

Why do noobs buy property 4 states away expecting rainbows?  I am surprised this is the first time you have run into a problem not being able to keep tabs on your house.  

This is my first extensively water damaged home that I may purchase. Surprisingly, it has nothing to do with the roof. The roof and attic are the best parts of the house, 0 problems.

Main line, laundry line, kitchen line are actively leaking. Sewage line is split in sub basement, standing water down there. Laundry line was never connected to anything, it simply dumps onto the ground underneath the house. Two walls need complete reframing from water damage from bad windows. Two giant humps have grown up in the floors from the water damage.

Some parts of the subfloor are at 55%+ water saturation. The smell of mildew is strong.

I know the repairs part...but the mildew smell and such will be a new challenge.

Besides replacing the damaged areas, I was recommended to shellac the entire floors and spray a mildew solution everywhere. Sound good?

100k Purchase price with an ARV of 140k. Some things came up in the inspection that increased my potential rehab costs to 20k on the high side, likely 18k. CoC will be down to about 8.1% with 10% vacancy/repairs assumed. I am aiming to keep this long term.

I plan on asking for repairs but I strongly doubt I will even get a discount.  

So did this deal turn into a lemon or is 8.1% good?  Market appreciation is good here.

105k to purchase and now about 22k to rehab with an ARV of 140k. LTR intention so an updated CoC return of 9.1% down from 12.9%. I am assuming 10% vacancy, 10% repairs.

A couple things just came up during inspection and I will likely try to get a lower price but I don't think I will be able to get it.

Should I just go for it anyways? Or back off and wait for a better deal? My CoC can only go DOWN since my rehab estimate is pretty solid. This is my first purchase.

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Unfortunately, I do not know any realtors in that geographical area.

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I didn't know any in my town either till I googled it.