All Forum Posts by: Account Closed

Call the city building inspector or water department where you pay your bill. They should look at your installation, tell you if they want an expansion tank, you put one in only if required, and they give you a letter of compliance either way after the project is complete. I suspect you won't need a tank but I've had plumbers and home inspectors make mistakes when selling my houses. How much money are we talking about? Best of luck with your investment.

On one hand you might be doing them a favor by urging this couple to confront her declining health and consider an assisted living arrangement or possibly moving closer to a supporting family (maybe the kids?). On the other hand you might feel guilty for being a Scrooge just after the holidays, so probably raise the rent halfway to market this year and bring it up the rest of the way next year to ease some of the pain. Best of luck with your investment.

Vent all you want and welcome to bank REO hell. Stick to your numbers and try to keep from getting emotional about this property. Don't fall in love and be prepared to walk. They might approach you six months later. You're dealing with people who just don't care if the deal gets done as long as they can justify their jobs. Best of luck with your investment.

What are you trying to find? Contractor referrals for your own projects? Buy and flip someone else's freshly completed house? Might need to network with contractors to find someone doing this type of work on a regular basis. When you drive past an ongoing house rehab, stop and ask who is the general or project manager. Best of luck with your investments.

Question is, do you want to be a hands-on landlord? With that income (don't post any more personal stuff) why not look at professionally managed apartment buildings? What's your financial planner/accountant say about all this? Is it possible to use the retirement account to invest in real estate? Best of luck with your investments.

Homeowner associations limit the number and size of pets too. Some mandate the color of your front door and mailbox. Retirement parks spell out the residents must be age 55+ except for visitors staying less than two weeks. There's all kinds of rules out there that exist until someone challenges them. You can hire an attorney but when you purchased the property, those rules were probably available for review (due diligence) and you probably signed off in agreement. Have you read them?

Personally, I wouldn't rent a two bedroom to that many people. Kids grow fast and want their own space. Best of luck with your investment.

So the tenant moved in to a property with a broken "furnace" for lack of a better word, and now wants heat. You didn't see that coming? And you want to hand out an unknown number of space heaters with or without extension cords to heat a entire apartment? Why bother? Tell the tenant he knew the apartment came without heat when he moved in. That should settle your concern about whether you can be forced to repair the central heater. When this tenant moves out or the place burns down, you'll repair everything the right way for the next tenant. By the way, how much money are we talking about and what is the rent? Sincerely wishing you the best with this investment, you'll need it.

If the property was centrally heated when the tenant moved in, you are probably obligated to repair or replace it. Space heaters are a fire hazard, just ask your insurance agent if they are a good idea to replace a primary heating unit. Best of luck with your investment.

If there's no way to leave the swimming pool in care of your tenants, does it matter if this property could positive cash flow? Talk to your insurance agent about the liability of a swimming pool located in a rental property. Sell the house and go looking for ROI. Best of luck with an investment that meets your long-term goals.

Depends on the deal. Will the seller help you gain access? Is the property being sold as-is or can you make a contingent offer? You could just knock on the door and ask a few polite questions, that will give you an idea how willing the occupants are to leave. Best of luck with your investment.