All Forum Posts by: Michael Quarles

My current tenant wants to add their boyfriend to the lease. But upon looking at court records this person has multiple driving violations and charges of criminal trespassing. Would you pass on this potential tenant or look pass it?

some of the charges are driving with a suspended license

criminal littering/ pollution on private property

no mandatory insurance

unsafe lane change

criminal trespassing...showed bonded out and later dismissed

disorderly conduct...later dismissed

driving with no head lanps

The driving issues. Heck I drove on a suspended license 40 years ago.

that said the other issues are a red flag. My experience is that these issues coupled with love turn good tenants into bad tenants.

I would not allow the occupancy. Be prepared to evict since they both will be living there soon.

if you feel inclined to allow get her parents or grandparents as a co guarantor. His won’t matter. They already know his issues.

1 Vote

Quote from @James Hamling:

Quote from @Steve K.:

Even with the pandemic, Trump era was by FAR much better for me and all I know. Which makes me wonder what it would have been without covid.

Your the first person I've know to coin Biden era as better.

Really?

Let's just look at the hard numbers:

Unemployment: Was 6.3% when Trump left office and is now 4.2%

Consumer Price Index: Was up 1.4% in 2020 and is now up 2.5%

Median Household Income: Rose 4% during Biden and FELL 2.9% during Trump. The Census called that “the first statistically significant decline since 2011".

Budget Deficit: Was $3.1 Trillion in 2020, is now $1.9 Trillion.

Federal Debt: Rose 39% during Trump, 25% during Biden.

Numbers don't lie. Trump inherited a strong economy in 2016 and left us with a struggling economy in 2020.

Blame Covid all you want. Part of the reason Covid was so bad for the US was that Trump fumbled the ball. Instead of working on a vaccine he sat in the Oval Office watching his fellow crackpots on Fox News and told everyone he believed the cure was to inject bleach into their veins. The guy mostly just worked on his golf game and watched TV while he was president.

Wow.... I had no idea you were like this Steve.... I just lost so much respect for you, I really truly did.

He NEVER said inject bleach in your veins, that's an out right LIE, it's ridiculous, and it comes from delusional HATE. Hate mongering.

Your are spinning things like a F5 tornado!

Trump was hit with the FULL FORCE of the covid pandemic. Entire governments nearly fell from covid. Europe was in taters. The world was in total chaos. And the US faired BEST is the world, FACTS. So much better than others that the US was exporting ventilators, masks, medical supplies to rest of world. No 1 person, party, group or anything can take credit for that, it was people being decent people, doing the best they could vs this insane political-everything obsession tribalism today! I know because I was part of that measure, as I worked with Dr Without Borders getting N95 masks out as I scoured and found "hidden supplies" from various home services warehouses and got them out there into medical services circulation. So I am speaking from some 1st hand knowledge here.

Because as chance has it N95 masks are also popularly used by RRP Contract work, so when hospitals called out for help, several of us in the trades side knowing this pitched in to help.

All the #'s your using are SOOOOO skewed. Why don't you just say GWBjr was worst pres for air travel because look at all the flight cancelations under him, then say how we need to ignore 911.

See, this is the BS that just irk's the hell outta me. Your so damn obsessed with your "tribe" being right that you will literally say anything, do anything, no limits.

If your side is legitimately so dang superior and "right" than you would NOT need to stoop to such BS. Hell, Pres. trump is far from flawless, how about sticking to facts, say how he's a horrible public speaker, because he is, the guy is atrocious. Or how about he is the living embodiment of hyperbolae, because again, he is. But no, you go into koo-koo-crazy-land BS on it......

JB and Kama-lama-ding-dong inherited "the" rebound nation, that's just a fact. Trump was saddled with epic hell the likes that nobody had dealt with in over 100 years, FACTS. So how about we not spin and distort the facts.

Myself and literally everyone I know, R, D, Independents ALL agree life was better under Trump, even despite covid. Why do we all say that, because it simply was.

We now have fights over which of the 44,279 genders a person is, kids getting even more bat-sh_t crazy, our society is in melt-down. Racism is worse than it's ever been in my entire life time or my parents lifetime. Wars raging left right and center. Disparity gap is now the disparity grand canyon. Journalism went extinct as the parasite called marketing-media took it over so we can't trust literally ANYTHING anymore because everything is with some bias. The polarized extremist nut jobs on BOTH sides seem to have taken the steering wheel and one is yelling to drive us off a cliff the other yelling to drive straight into it and us sane people are just in the fetal position rocking back and fourth trying to wake up from this damn nightmare that the crazies have broke out the nut-barn and took over......

Careful the BP gods will remove your post. They removed mine.

it seems that they pick and choose which people they remove.

0 Votes

Good to meet you. There aren’t any tricks. Marketing is very difficult done right.

1-2 properties a year is a great goal. There’s nothing wrong with stability.

Personally I run an algorithm on a market once I decide on it. The algorithm gives me a lot of insight. Things like high demand, high risk, DOM and such.

I still like direct mail. I can drill down and market to just LIKELY motivated prospects.

Besides marketing the larger component is the list of questions to ask and how we ask them.

Most sellers are afraid of that first contact and need direction.

Does BP still allow users to share scripts. If so let me know.

2 Votes

Chicago, Illinois

Quote from @Bruce Woodruff:

Quote from @Michael Quarles:

Quote from @Bruce Woodruff:

As a long-time Contractor, Investor, Home Inspector, and more, here is my take....

Those pipes are past their 'expected life span'. Period. Any potential buyer with an IQ above 50 will insist that these are replaced or they are given a credit.

This can be a huge expense. I would say about $8k average, sometimes reaching towards $20k depending on length of run and the difficulty of tie-in to the City main.

I would not, as a buyer, wnat to take a chance on this..even if they are working well now, it is a ticking time bomb and a large expense.

So I would wrap your head around the concept of offering a credit towards this item. Just my $0.02

Would agree the fact doesn’t have anything to do with as is value.

the appraisal should have considered the deficit and wether it was actually one on like, just sold, type housing.

But an appraiser would have no idea if the sewer line was original. They don't consider that....right?

Hellen Keller may have not noticed however I certainly could with just a cursory review of the property.

they don’t actually know the extent of the roof however note possible deficiencies.

an appraisal is also at as is. Not an ARV. they can state future value however that’s not lendable until the lender notices that fact. Most will reserve until.

I do think the seller is at risk on perceived cost however those costs aren’t real if appraised at sales price.

0 Votes

Las Vegas, Nevada

Quote from @Bruce Woodruff:

As a long-time Contractor, Investor, Home Inspector, and more, here is my take....

Those pipes are past their 'expected life span'. Period. Any potential buyer with an IQ above 50 will insist that these are replaced or they are given a credit.

This can be a huge expense. I would say about $8k average, sometimes reaching towards $20k depending on length of run and the difficulty of tie-in to the City main.

I would not, as a buyer, wnat to take a chance on this..even if they are working well now, it is a ticking time bomb and a large expense.

So I would wrap your head around the concept of offering a credit towards this item. Just my $0.02

Would agree the fact doesn’t have anything to do with as is value.

the appraisal should have considered the deficit and wether it was actually one on, like just sold, housing.

2 Votes

Las Vegas, Nevada

Quote from @Tim Silvers:

Quote from @Michael Quarles:

Future risk is always a concern however never a value in an appraisal. Appraisals are based on the current condition. They can have an “if this then that” value however it doesn’t affect appraised value.

Therefore if you’re selling at or below lender/buyer appraisal I would think you’re fine.

This said; let’s assume escrow falls out. Now you’re tasked with disclosure possibilities.

I remember this exact conversation on a prior purchase and did use that disclosure requirement to lower the purchase price even though the value was justified by an appraisal.

I have also negotiated to bond around future possibilities These bonds use to be fairly cheap.

Prior knowledge issue, yep. Went through that with a mold issue before.

Appraisal came in at purchase price.

But the issue is whether I can convince the buyer's agent that it doesn't need to be fixed since everything's working ok now.

You may take the risk and negotiate the new value after alterations. If it costs X and increases to Y then Y is the new value. I would also add 10,000 per month of repair time to go from X to Y.

cost of added value is never linear.

Also I wouldn’t lower the sales price by more than 30-60 days holding cost.

0 Votes

Las Vegas, Nevada

Therefore if you’re selling at or below lender/buyer appraisal I would think you’re fine.

This said; let’s assume escrow falls out. Now you’re tasked with disclosure possibilities.

I remember this exact conversation on a prior purchase and did use that disclosure requirement to lower the purchase price even though the value was justified by an appraisal.

I have also negotiated to bond around future possibilities These bonds use to be fairly cheap.

1 Vote

Las Vegas, Nevada

All Forum Posts by: Michael Quarles

Michael Quarles has started 130 posts and replied 3282 times.

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