All Forum Posts by: Melissa Richard

I have been looking into real estate investing for some time and have been looking into both 2-units and lower-cost single families for myself to start out with. One of the lower-cost single family houses near me now has some oddly-textured and peeling ceilings like this.

Even the seller agent said the house is overpriced and the buyer is moving to another state and doesn't want to fix anything due to the market. (The seller agent even mowed the lawn here if that paints a picture.)

Anyway, do ceilings like this almost certainly mean there was water damage and that I should stay away in case of structural issues in the ceiling, mold, etc?

The house is from 1950 or so. This the the bottom floor but there were imperfections in other rooms and upstairs as well. This is the worst of it, I believe.

I am aware that an inspector can only check out what they can see on the surface.

Thanks.

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@Nathan Gesner Sounds good, thanks!

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Originally posted by @Scott Hibbert:

@Melissa Richard I haven't had any issues and neither has my old landlord/roommate when I rented a room before buying my current house. I've wondered if there have been fewer people looking for rooms for rent because of Covid but I don't have any proof of that.

I bought my house last February and all of my roommates have moved in during Covid. One of my roommates is a nurse and works in a hospital but didn't work on Covid patients. I had Covid in February of 2021 and isolated myself to my bedroom, bathroom and office that are all conveniently located in the basement. None of my roommates cared that I had Covid. I basically had a mild cold. If a roommate tried to sue for getting sick, good luck winning that one in court. Also, these are people that are renting a room in a house, they clearly don't have money to hire a lawyer for such an unreasonable reason. However I do recognize that it is possible and the sue happy legal system here is crazy but it's a risk I am willing to take. All roommate scenarios can turn sour no matter how living together started. The higher cost of separate dwellings is generally why people have roommates in the first place. They can't afford to live by themselves. I would live by myself if I wanted to waste $30,000 a year on housing but I would rather have roommates and invest or enjoy that money on more important things in my life.

Thanks for the input! This is exactly the experience and info I was curious about. All makes sense to me. Glad you're okay, as well.

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Originally posted by @Roshan K.:

non issue for me. just have lead addendum in lease contract, get it signed and move on

Has a tenant ever asked to have it tested or tested themselves with a home kit and found it that you know of? What would you say?

Curious because I am in New England with a lot of old houses and looking at buying one now that has a rental unit on it, built in the 50s.

Thanks.

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Originally posted by @Scott Hibbert:

@Tanner Pile Tell them that rent is priced based on comparable rents in the area.

It has nothing to do with how much your mortgage is. Maybe you put 5% down and have PMI. Maybe you bought it cash and don't have a monthly housing payment. Either way rent price is a matter of supply and demand.

I’m currently house hacking in Arvada and live for a profit of $200/month in my own house. But when the rented master bedroom bathtub leaked through the ceiling, I paid to fix it.

My roommates know I’m the owner from the very beginning and we get along great. If anything breaks I pay to fix it right away unless it was human carelessness.

Good luck with your house hack! I prefer to find the right roommates/tenants and will wait for the right fit. I currently have a vacant room for June because the new roommate couldn’t move in until July but he was the right fit for the house personality fit. It cost me $800 in one month of vacancy but way better than having a bad roommate.

Normally, I'm not overly worried about Covid personally, but I am curious how renting rooms/sharing space has been working for people. There aren't a ton of posts when I search. I think the idea of buying a single family and renting a room sounds good, but I wonder how much people renting care, if they could sue if they got sick, etc. Especially if traveling nurses are allowed to rent by the room, if they care if others are vaccinated or not, etc. Not trying to turn in political by any means, but I am genuinely curious if this has turned sour for anyone or if it's best to still to separate dwellings.

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Hello everyone,

I swear I have seen a Bigger Pockets of Brandon showing how he posts, where he posts, what he includes in postings advertising his rental units. I cannot find it for the life of me.

I am pretty sure it was on Youtube. I've looked in the webinars and video library here as well.

Does anyone know what video may include this?

Thank you.

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Originally posted by @Diana T.:

I can’t even find15%. Who is offering this?

It may just be owner-occupied.

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I don't know! I can't, either. I tried 2 different browsers, too.

I don't even have a place to check all panelists and attendees, or whatnot.

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Try realestaterocks

1 Vote

All Forum Posts by: Melissa Richard

Melissa Richard has started 2 posts and replied 9 times.

Post: Would you stay away from a house with ceilings like this?

Post: Lead paint on rental property homes

Post: House Hacking and dealing with tenets

Post: Lead paint on rental property homes

Post: House Hacking and dealing with tenets

Post: Trying to find BP video...Brandon showing how he markets rentals?

Post: Putting down 15%????

Post: Why can't I see the chat box in the webinars?

Post: Coupon code not working on Pro upgrade