All Forum Posts by: Matthew Meikle

@Stone G. The listing said new roof, but what about the disclosures? Did the seller cover their end of liability here? Who did the job for them and will they stand by their work?

You should try including your reasoning in writing with all low ball offers. If the seller/agent thinks you actually gave it some thought they will give it more consideration. Along those lines, try coming in at non standard numbers. For example, instead of $150000 try $152500. That also tends to give the impression that you really crunched the numbers.

More specifically, for the binder, you need a "sun resistant single component moisture cured polyurethane that has ~10% isocyanate, a low viscosity, and a high percentage of MDI." Just rattle that off to the chemistry nerd at your supplier. I'm still sourcing mine, but you can start your search over at Huntsman with their Suprasec line.

Considering pouring a new driveway or parking space? It's probably going to crack again any way. Try getting it resurfaced with crumb rubber. It keeps old tires out of the land fill and puts them to use and it looks pretty nice too if you spring for the finer crumb top layer or a colored option. It can cost more than concrete if you go with those playground safety companies (The only ones doing it.). However, it's so simple to do you could get away with DIY or hiring your own two man crew to complete the project in an afternoon. Another plus is that the material flexes with any future movement of the underlying driveway. It is impact and slip resistant as well.

You'll need the following:

Cheap plastic cement mixer

Heavy roller

Wheelbarrow

Lubricant (wd40 works but you'll need half a dozen cans.)

Screed board

Trowels

Gloves

Rubber crumb (Contact your local tire recycler. In my area, I can get 2000 lbs for $140) 

Light stable aromatic polyurethane binder (Contact a reputable chemical or adhesive supplier and explain the project. Can get pricey and is highly variable. Shop around. In it's most affordable form, it comes in 440 lb drums.)

The mixture needs to be between 18-22% binder to rubber crumb by weight and you just trowel it into place and finish with a heavy roller. Make sure to keep all the tools lubricated. For two inches of thickness, you're probably looking at 6 pounds per sq ft as a very rough rule of thumb.

Rather than replace that ugly stove top or fridge, maybe a couple coats of appliance epoxy spray can do the trick.

Check out landlord locks and save a ton on turn over costs. The replacement tumblers shown here cost $6.

I'm going to use this thread to catalog any interesting tools or tricks I find that relate to real estate investing. Feel free to post your own. I'll start with a light that simulates a tv for when you have to leave a property unattended.

This thread is fantastic.

@Jay Hinrichs

Very informative. Could you elaborate on the ways to find hidden value in properties? You mentioned it would require map work. If you could perhaps give us a breakdown of a deal you've been involved with that would be extremely helpful.

Thanks in advance.

- Matthew

@Kris L. Kitchens, bathrooms, and 2 bed to 3 bed conversions.

@Ted Kaasch Parking, along with basements, has the lowest tier of value add to a property in regards to appraisals. It will definitely not give you positive return on your investment for a flip. Maybe if your property was the only one on the block without it. Even if you wanted the extra parking so you could make this a rental, the additional cost would be eating into your COC returns.