All Forum Posts by: Matthew Paul

Get permits , the new house next door will have inspectors coming and going .

I have a couple smaller supply houses that I ask " what do you have in the return or damage section. I can get great deals on windows , trim and doors that somebody ordered wrong . I bought 1100 ft of base board trim for $100 dollars , it had some water stains , A $1500 front door with leaded glass for $ 200 , it was the wrong color . I got a complete brand new kitchen for $ 500 just because the person never came to pick it up after 30 days . ( over 20 pieces )

That's normal in these parts when you are working for an owner occupied home , Non owner occupied there is no limit . Contractors aren't in the business of making loans.

24 % per year is about the same as a credit card , pay before the due date , no interest , pay late , pay more .

Just past the water meter add a curb stop AND put a Tee in the line just past your valve . Bring a pipe up just below ground level and install a threaded ball valve at the top , go buy a 12 in irrigation valve box and install it over the valve and then fill the box 1/4 way up with gravel . You now will have a blow out point for the entire water line and the house . Once you have blown down the house and drained the water heater ( turn off the electric to it first) take a funnel and pour in 10 gallons of RV antifreeze and blow it thru the lines , you will never have a problem . PS check for leaks before you backfill digging the same hole twice isn't fun.

Get a home inspection !!!!!!! Period every unit , talk to the current tenants , ask them whats wrong with the place , dont tell them you are moving in , talk to neighbors . Dont get excited or fall in love with the property , this will make you blind to problems .

its a fuel tank for a oil burning furnace , "heating oil" is basically diesel fuel , you normally have a 275 gallon tank either outside the house , in the basement or buried in the ground ( Buried becomes a major problem when they leak ) Heating oil is around $3.65 a gallon , so filling a tank can cost close to $1000 dollars

Using a sewer snake isnt hard , but it can be messy , I have 2 fifty foot ones and a larger 100 foot one . I clean my main lines before every new tenant , and I charge them if they clog the lines , paid for the machines years ago . Wear rubber gloves , old clothes , and some diluted bleach to spray on the snake when done .

I handle the oil tanks a bit differently , I dip the tank and measure the amount , I have the conversion chart for how many inches equal a gallon . When they move in I measure the amount of oil and they pay for the oil . When they move out I measure the tank and reimburse them for what is in the tank .

First the deposit , then court .

Just bought 2 houses within the last 8 months , not cheap , $140,000 duplex both sides on 1 acre with a extra bldg lot in a neighborhood of $350,000 homes , total gut and rehab . And 4 acres with 2 houses , both total rehabs adjacent to 3 acres I already own , will divide into 5 building lots and keep the rentals . For $ 150,000 . Had to go all cash on both of them , both were dropped in my lap and had to settle in 30 days each time . Houses were too rough to get financing on and had to move fast on both . I will be busy for the next 2 years .

I have a 1 bedroom that when it comes up for rent I have 10 to 15 qualified applicants , and the last time it went on the market 2 people started to bid it up . There are a lot of single people with minimal "stuff" that just need a place to sleep. Its also my most expensive, and profitable rental , both by the sq.ft and by bedroom .