All Forum Posts by: Nick Clurman

Anybody have any experience trying to find tenants in today's post covid 19 world? Has this new reality changed your tenant vetting procedures or prices? I'm considering renting a SFH 4bed 2 bath and curious as to what to expect.

Congratulations!  This is a awesome lesson in sticking to the math, not getting emotional, and being ready and willing to walk away if the numbers don't make sense.   Keep it up!

 I'm really not sure.  Is a home warranty common for investors in rental properties?

I'm recruiting opinions on how to address a home's roof prior to selling. The home in question is a two-family, valued between 350-400k. The roof is likely twenty years old and shows signs of age on close inspection. The roof looks pretty good to the lay man's eye.

It has asphalt shingles, that are the dimensional type (fairly high end for the era of installation). I've had no fewer than 4 roofing companies out to give me an estimate. They all want to completely replace the roof. I know because there is only one roof layer, I have the option to do an overlay roof. The overlay is tempting because it will save me a few grand, versus a complete tear off. Most recently I had a roof certification company to inspect the roof. Based on the feed-back I got from the prior roofing companies, I had little hope that it would be certifiable. However,they will certify it for 2 years after performing $400 in repairs.
Should I....A) Tear off old roof and install brand new $14,000 roof? 6-8 week market delay.B) Do an overlay roof for 11,000? 4-8 week market delay.C) Have it certified by Roof Doctors who will warranty it for two year for $600? No delay. I'm told FHA will lend on home with this Certification.
Thank you in advance for any constructive opinions.

Thanks Jeremey.  That is the exact buyer I'm looking.  The one who is "most likely to overpay".

Thanks for the great advice.  I am leaning towards vacant; 1 less thing for me to do, appeals to a broader array of buyers and way easier to show the propertey.   Along those lines it makes sense to do a more thorough and "higher-end" renovations, right?  I wouldnt normally consider putting in a dishwasher but maybe an owner/occupant would appreciate that kind of thing?

Im thinking seriously about selling a duplex in a c-b neighborhood.  My tenants are moving out on one side and I'm planning on doing a quickie fix-up ( floors, paint bathroom ect.).  Am I better off getting new tenants before listing or have it vacant for a potential owner live-in situation?  Thanks for your opinions.

 Very cool!   I'd love to hear more specifics on this deal of yours.   I assume you are planning on holding this property?  How is the conversion going?