All Forum Posts by: Nolan M.

@Dean Letfus Because there's one born every minute! 

Interesting to see this recurring topic on the forums. Especially considering that Josh Dorkin built this site because he was getting clobbered as a D class property OOS landlord 20 years ago! He used to talk about it a lot more on the earlier podcasts. 

This deal is speculation, not an investment. If you can afford to speculate, then go for it, you'll probably make a great return. If you can't afford to have this deal go south on you then you shouldn't do it. It all depends on your personal comfort level of risk. I'm not at the point financially where I can speculate, but maybe you are. Good luck!

I just finished a nasty flip. The previous owners had dogs living inside for months, no electricity, no water, it was bad. I used the ozone machine you just bought with a large fan. I did one room at a time and it worked like a charm. 

Type "success path" in the search bar at the top of the page and read all the previous forum posts from people who asked the same question as you. If you want a mentor consider the thousands of active real estate investors here on BP as your mentors. You have access to tens of thousands of forum posts that cover every conceivable strategy in RE investing, its better than a gold mine. If you don't want to go it alone then go to local meetups and meet local people who invest in your area. Partner with someone local rather than paying 10k to a shady company who goes from town to town scamming people. 

Navy Federal Credit Union

Tear it out, you don't want to put lipstick on this pig. It doesn't matter much that the drain isn't centered, its close enough. Redo the shower pan with a vinyl liner and build the dam with blocks. You can cut the old castiron drain pipe and connect it to a new ABS drain using a fernco flexible pipe coupling. I suggest getting a square shower drain, easier to cut the tiles around it. There are lots of youtube videos on how to mud a shower pan. 

I recently put a mini split onto one of my apartments. From what I read some brands do not keep up in supplying heat if the outside temp drops to close to zero. Not a problem for AZ, but it might be an issue in your neck of the woods. My advice is to do a little research, and make sure the unit is not installed on the ground where it could get buried in snow. 

The way its been explained to me is that the appraiser won't have a justification to either add or subtract $$ for the bomb shelter because of the lack of comps.

I'm working on a flip that has a bomb shelter. The entrance is technically inside the house, but its in the back corner and the door opens to the backyard. There is a manhole style hole in the ground with ladder rungs going down about 10 feet and the actual shelter is about 100 sqft. My agent has been calling appraisers and lenders and its looking like financing will be an issue because there are no other bomb shelter houses in town that have sold with financing. Town only has about 8K people so I'm sure that doesn't help. Do any lenders or appraisers have an opinion on this?