All Forum Posts by: Melissa Robbins

Thank you for sharing your wonderful investing journey.  I love how you were able to get started with only $7500, which shows how one can succeed by being scrappy and smart! 

I have three SFH homes in KC area. What method or research did you use to determine your rental rates? I like that Liberty area too.

Hi Linh, 

I find the taxes considerably higher, especially in JC, on the KS side. I have one rental on that side (Wyandotte) and not sure I’d buy there again. I like the Blue Springs and Lee Summit area on the MO side. There are good schools and job growth in that area. Park Hill schools in the north area are good too. 

@Shane Siederman Thank you for the offer. I've got a list of vendors to call today and am hoping to have this narrowed down soon. I'll send you a connection request and we can stay in touch. The kindness and willingness to help from everyone on BP is wonderful!

@Nate Sanow - Good to know someone with an idea on costs for the area. My original bid of $15K includes 10 sheets of 4x9 siding and tons of trim, paint, and labor. Some pics you have to zoom in on to see the water damage bubbling up behind the wall. However, I am sure many of you have seen much worse.  It could be the high cost of materials now due to supply chain challenges. All three of my rentals are wood siding so I can see how I will need to budget as you suggest. I'll stagger them each year so I hopefully won't have to do more than one in a 12-month time frame.  Appreciate your comments!

@David Nutakor - Thanks for the note of encouragement. Much appreciated!  It's frustrating because I wasn't expecting a cost this high with only 8 months after ownership. It's a cute house, in a nice suburb, with good schools, and job growth so I want it to be a long-term hold.  I have not notified the seller yet. But I may, depending on the findings. The person who did the inspection passed away suddenly and the disclosure does indicate the seller was aware. So it's on me.   

@Karen Margrave - Hi Karen. Good question. I had both pest and home inspections completed by different companies. There were signs of termites in some old wood in a pile in the back and I had a treatment completed.  I hadn't there could be a connection so I will keep this in mind when getting those bids. 

@Jonathan R McLaughlin Thanks Jonathan. Yes, the painting bid was about $5500 of that $15K. That helps bring more perspective.  I have learned some good lessons here for the next deal I purchase. 

@Christine Zharova - This is most helpful. I need to look up some of these terms to better understand the materials. Good thought on checking the framing condition too. I appreciate the offer to speak over the phone too. I may take you up on that as well!  

@Mo Karim - Thanks Mo. They do get rain and I'm learning more about their climate and how it differs from where I live in Denver where it's much drier. Due to the moisture, moss grows easily on the north side of structures and many homes need sub pumps to keep basements from flooding.  Thanks for the referral. I will check them out!

@David Song Thanks David. I think I can find a lower bid. I'm eager to get this resolved. Crossing my fingers there's no further damage. 

@Stephen Girard - thanks Stephen. Appreciate you taking the time on this.