All Forum Posts by: Mike McCarthy

@Evelyn Tilman obviously getting the pipes fixed is step 1.

Talk to a plumber about using PEX pipe instead. The lines can still freeze, but PEX is more forgiving than copper when it does.

Another option is to install heat tape and a thermostatic control. When the temperature gets below 49, the heat tape turns on and keeps the pipes warmer.

Insulation will help if you can keep the pipes between the heated section of the house, and the insulated outdoors, that would be the best solution. But insulation on itself, doesn’t really help.

Good luck!

@Keith Gardner I agree. While conventional funding is usually easy to find, HML takes a bit more work. Many investors will be wary of working with someone new, so it'll take a bit more work to find an investor.

I’d recommend looking for both a property and investor at the same time. No reason to hold one for the other - though you’ll obviously need both!

Agreed with the others, the closing docs you signed basically state that you’re accepting the property as is, without warranty. So your time to force the seller to do anything has passed.

You might be able to sue, but unless it was willful negligence on the part of the seller, I don’t think you’d win. Plus, you’re talking $10K+ to get to that point.

My only suggestion is to have your realtor/lawyer write a letter requesting documentation. But don’t be surprised if you don’t get what’s needed. “It was fixed, but I don’t have an invoice and don’t remember who did it” is probably what you should expect to hear back, is anything.

Get whatever you need to fixed and move on. We all have mistakes that we’ve learned from.

@Patrick Q.I wouldn’t worry too much about it. You’ll find yourself actively trying to keep the secret which will get harder and harder over time.

I don’t volunteer that info to my tenants, but I don’t hide it either. If they ask, I tell them. Regardless, it’ll be up to you to keep them at arms distance.

But if you do want to have checks payable to someone other than yourself, set up a DBA. Basically it's a legal filing through your state, which usually costs around $50 to create a ‘fictitious name'. There's no corporate structure or anything, but you can then add the DBA company name to your bank, and open an account in its name.

Also, as a side note, don’t collect checks. Use an online rent collection service - which will often ‘hide’ your name a bit as well.

@Matt Nico take a look at Capital One business credit cards. I don’t know their current offers, but I’ve been happy with the cash back and credit limits offered.

@Jacob Beran realize that once a pile of plowed snow remains like that for a day or two, it melts, refreezes, and turns into one huge hunk of ice. There’s no way that’s moving with a standard plow or shovels. You’ll need a bobcat or excavator to move it.

So deal with it knowing that. Either become such a pain that someone hires the equipment needed to move it. Or make it clear that it’s fine this time, but if it happens again there will be problems and costs to move it.

@Alex Bush most appliance shops (including Lowe’s/HD) will install for you.

Dishwashers are the most expensive, probably around $150 as they are the most complicated.

Others will probably be installed by the delivery drivers if you have or bought new supply/gas hoses. Either for a $20 tip, or sometimes a $30-50 part of the purchase.

@Paul Sandhu I can’t imagine it’s very long. If the towers are there already, it’s a day or few at each tower to add some equipment. If the towers need to be constructed, nowadays towers go up in a couple days.

Probably hotel stays at most, but most of the work is likely contracted out and workers are probably in and out the same day.

The whole process might take a year... but that’s permits, zoning, etc.

@Maureen Nina find a local bank with a mortgage person you can speak to. If the bank only has a ‘branch manager’ who handles it, go to the next bank. Not that the bank isn’t good, but it means that person doesn’t specialize in mortgages.

There are benefits of going with a smaller, local bank or credit union, but sometimes you’ll have more options working with a larger bank.

When you first sit down, make it clear that you’re just learning right now. You can share the basics of about how much you make and what debt you have, but don’t provide details and don’t give your SSN until you find the right bank. You don’t need a preapproval the first time you sit down, only a consultation on the basic process, etc. Once you find a bank you want to work with, then a pre-approval is the next step.

@Shiloh Bryan are you a renter? Or the landlord?

If you are a renter, ask the landlord to change the locks ASAP. You don’t feel safe with others who have keys. Then Provide a date/time where he can get the rest of his stuff, after which it will be put on the curb. Put it in writing (text is fine). Let him move out and move on.

As you’re not a landlord, you don’t have to follow landlord tenant laws. You want to do what’s right in case you end up in front of a police officer or judge, but if he’s not on the lease, there’s no reason he should have a key.