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All Forum Posts by: Ryan K.

Ryan K. has started 16 posts and replied 137 times.

Post: Well Inspection?

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

I would recommend running the water to purge everything that has been sitting in the pipes for an extended time. Metals such as copper and lead from the pipes, fittings, solder, etc. can leach into the water over time and it would be best to purge it all. I would open all faucets, even those on the exterior if present and let the water run for a while to get fresh water in the system. Do this purge right before (a day max) the sample is collected for best results. 

Regarding the bacteria test - be sure that the person collecting the water sample knows proper procedures. They should thoroughly clean their hands before handling the containers and its best if they wear new latex gloves. Also best that they remove any filters or aerators from facets before taking a sample, as these can collect junk and habor microbes, and even disinfecting the end of the faucet with a lighter wouldn't hurt. Basically you don't want any cross contamination from the sampler or anything else that would give you a positive test (bad).

Hope this helps!

Post: Well Inspection?

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

I assume this is a requirement for the financing for the buyer? Lead and bacteria tests? for so I've been through this recently and can provide some info.

Post: Seeking advice...ultimate goal is to have over 30 properties

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

I'd also recommend selling that diesel crew cab and getting something more economical to help your situation. I own a diesel pickup that's been paid off for quite a few years and if I had to do it over I wouldn't have bought it in the first place. It's just not practical unless you are really towing heavy or have some other need for it. And don't forgot once you are out of warranty the repair costs can get out of control, not to mention the maintenance items are expensive (compare prices of heavy duty rated tired to standard truck tires for example). Downsize to a smaller less expensive payment truck at a minimum and use that savings to pay off credit card and student loans.

Post: Halved My Premium, Increased My Coverage

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

Congrats! I found the same, basically it's good to shop around every so often for rates. I think the insurance companies typically bank on the thought that most folks are lazy and will just stick with what they have, and in the meantime slowly jack up the premiums.

Post: Need advice - friend might sell home to large investment company

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

Looking for any advice - I have a "friend" who has decided he want out of his house for two main reasons, one is financial (but up to date on all payments,taxes, etc.) and the other is to move overseas. He's not familiar with real estate mainly due to the fact he's originally from Europe and this is the only property he's ever owned here in the U.S.

My main concern is getting him the most money for the property. I'm all about REI and making money, but this is a friend and I want the best for him financially. I'm worried he hasnt pursued his options and will basically take a low ball offer from a large fix and flip company that sound great to him but in all honestly he could likely do much better.

I'm not in the position to take it over completely myself due to other commitments and the distance, but I want to help in any way. I'm hoping another friend can at least stall him on the decision to sign the contract, then we can convince him to find another route. 

The main problem from what I'm hearing is deferred maintenance, I havent seen the house so please keep that in mind. It was built in 1995, vinyl sided. I assume its due for a new roof and hvac. 

I'm thinking there are several options:

1. Put some money (my other friend and I can loan the owner some cash if needed) into the house, mainly the big items, and sell on market, MLS, with a realtor.

2. No repairs. Shop it around to more investors to get higher price.

3. No repairs. Put on MLS with a realtor and either fix anything found in an inspection, or list with "seller will not do repairs".

Any advice is appreciated here.

Post: Do you know of a buy and hold calculator without financing

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

Just put 100% into the down payment field and it should show the results without any financing.

Post: 8 Contractor Interviews... 0 quotes

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

I suspect many of the contractors are just plain busy at this point. I've had some issues with either contractors never providing a bid or taking way too long to respond. Construction and renovation is booming now. Keep trying and I'm sure you will find a contractor or some route to get the work done.

Post: Floor and Decor quality

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

Anyone have an opinion on Floor and Decor? I bought some tile and stuff there this past weekend but was curious about the quality of their solid hardwood flooring? Has anyone used it, good/bad experience?

Post: Porch/Stoop and Steps Railing

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

I'm looking at all the options. I want it to look nice, so I think wood is out of the question. Just received a second estimate for powder coated aluminum, and its still expensive in my opinion. Its only 20 feet max of railing with 6 to 8 posts. One quote was $2550 and the other $2250. I prefer metal for the appearance and low/no maintenance, but I'll look into steel and vinyl to see what options are there. Has anyone purchased a kit with aluminum posts, rails, brackets, balusters, etc. and had it installed?

Post: Porch/Stoop and Steps Railing

Ryan K.Posted
  • Investor
  • Richmond, VA
  • Posts 139
  • Votes 43

Front entry to house.