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All Forum Posts by: Michael King

Michael King has started 32 posts and replied 893 times.

Post: typical fake lender for all you starting out borrowing money

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640
Originally posted by @Doug Pintarch:

Thanks for posting this Jay.  I was going to click the link but I just got a phone call about my social security number being suspended and I have to call that guy back first...

:)

Last time the social security admin called me to tell me my social had been suspended, I told (shouted) the moron to go away. Well, much stronger words were used. They had been calling every day at 10am and it started about a day or so after I set up a google voice account number. 

Maybe the social security admin are going to arrest me now. 

Post: Landlord won't provide mailing address on contract. Argument

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640
Originally posted by @Pete Park:


I am based in California.


The management company who listed the property, will not provide a mailing address for the owner. (owner will manage property) I've since then getting into a small quarrel via text message on the importance of this with one of the property managers. (they stated owner will provide the address after signing). However i would like it on contract officially. Should I let this slide and sign the contract anyway if they are not willing to provide the mailing address on contract? I have a phone number and an email address for the payment info on the contract. In case I need to deliver a certified letter one day, I am thinking an address on contract would help. 

They also insisted I signed the rental agreement via docusign a few days before my official move in date. I requested I would like to sign it on the move in day after inspecting the property (as to not be held under contract before moving in)

Am I being difficult? Or should I go with the management company's orders?

 Pete just revisiting this. What's the latest? If CA is anything like MO, an address for the landlord is required on the lease agreement. If you sign, and there's no address for the LL, then it seems to me like the LL is in breach of the law. If LL is managing it, then there needs to be at least a PO Box address (MO law). 

Post: Question on building inspectors

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640
Originally posted by @James Wise:

 This is normal. In fact the majority of inspectors don't go up on the roof. They usually inspect them from the ground. Also what they are doing from inside the attic is checking to see if there is moisture or signs of water damage.

Thanks James, all the inspectors I've hired do roof inspections too, so that's what threw me off the most.  And if the guy had actually crawled around in the attic, rather than stand on top of his ladder...then maybe he would have had a little bit of credibility to his inspection. 

Thanks again James, I appreciate your response.

Post: Question on building inspectors

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640
Originally posted by @Patrick Hill:

@Michael King

Have you used Castle Home inspections? They have been great on my last few inspections in the city along with Sewer Pro for the lateral inspections.

I have not. I've used BPG a couple of times and the one guy, a great inspector, used the drone on the roof of the house I'm at...because of his age and mobility. The only reason I went with Orf was my realtor was so confident about their inspections - and I didn't want a drone's eye view - so I let the realtor pick Orf. So mad at myself for trusting his opinion. There were 3 stages to my realtor's experience with this company, slightly off topic. 1. Extremely confident. 2. Had never used them before. 3. Owner of the company is an old school buddy.  So a lot of BS floating around there somewhere. 

They did get Sewer Pros to do the lateral, which was a relief.

Patrick, thanks for taking the time to post here, much appreciated!

Mike

Post: Question on building inspectors

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640

@Nathan Gesner Thank you Nathan. I wish the guy had said he couldn't inspect the roof due to snow; I would have delayed the inspection. Never had snow on a roof during an inspection before, so didn't know. He would have though. I might not be so perturbed by it had the guy actually crawled around in the attic; he just stood on top of his ladder and there was plenty of room in the crawl space. It's a 2000sf footprint. He would have been able to see maybe 10' away from him in any direction. Beyond that and the frame would block his view. 

Guess they don't need repeat business, that's okay. I've learned some good lessons out of it I think; hopefully the lessons are about building inspectors as opposed to serious items overlooked by a - I suppose - lazy inspector.. 

Post: Question on building inspectors

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640

@Marc Winter thanks Marc. I've only seen one building inspector use a drone because of his age and mobility (wasn't a good pilot, he crashed into a tree and we spent 45 minutes lassoing it down with a 100' garden house...). Never did get the video. I can't count how many building inspectors I've hired. 

Post: Question on building inspectors

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640
Originally posted by @Patrick Hill:

Hey @Michael King

I’ve heard of inspectors coming back at no charge if they are in the area but in this case it would be considered a re-inspection and is typically charged at half the price of the original inspection. Hind sight knowing there was snow on the roof I would’ve rescheduled the inspection unless you were to against a deadline. In that case have your realtor submit an amendment for an extension period. 

Yes I see your point, but I paid $1300 for the inspection, the snow was there for the day of the inspection only and was gone 2 days later. The inspector made no mention of it until he had finished the inside apart from going into the attic. He would have known from the get go. This is the first time ever I've had a building inspection with snow on the roof. Hindsight is 20/20 for sure. I know he missed a number of things; tiles that look suspiciously like they contain asbestos for one. 

Hindsight I'll find another inspector next time. Thanks Patrick for responding, I'll be a little more tuned in next time, I hope!

Post: Question on building inspectors

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640

I ordered a building inspection for a 4 plex in St. Louis that I'm buying. At the time of booking, I asked if a roof inspection was included, which was an important deciding factor in using this particular company. They said it was included. On the day of the inspection, there was snow on the roof of the property and the inspector said he could not get on the roof, but he could inspect the roof from inside the attic. Odd, I thought. 

Roll the clock forward 2 days and I email the company to find out if they're going to do the roof inspection or whether I should expect a refund of any description. My realtor calls me to tell me the owner of the company said that there would be an additional charge to go back out to inspect it. 

Is it just me, or should I expect to receive services that I paid for? Or expect to be the one that gets screwed due to the weather?

Orf Inspections in St Louis if anyone is looking for a recommendation. To stay away from.

Post: Do you think a 1100 MOVE IN FEE, is unreasonable?

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640

@Charlie Moore don't you feel if that if the tenant does not have a security deposit held in place over them, that they'll take less care of the property?

Post: Commercial Financing in STL

Michael KingPosted
  • Rental Property Investor
  • Navarre, FL
  • Posts 913
  • Votes 640

@Andre Taylor I forgot to mention Andre, that I only need another $35K with this bank, so there's $20K I don't have to raise, and the line of credit will be a lot more available should I need it (nice to keep in the back pocket for the next deal), and the interest rate is going to be around 5%. 

Beats a hard money lender for sure!