All Forum Posts by: Robert Hernandez

@Mike McCarthy It is a 4 point inspection I know that the HVAC and water heater are old. Should that be a concern. Or do they just look if they work?

@Dennis M. From your experience would the insurance company tell me to replace the old water heater, they are 30+. I plan to replace them DIY, but would rather not have to replace all of them in a span of 2-3 week.

@Mike McCarthy wow that was all they asked for. Did you have old applications like myself, i'm really worried they just tell me to replace my old water heater and HVAC. Which I plan to replace, just not right away.

@Wayne Brooks I plan to replace the water heaters very soon in phases over this year. But, I am worried that my insurance says I need to replace all of them in a month or they will cancel my policy. Is that likely? Thank you for the advice! 

What do you mean "and you should be scared."? But, I do understand what you're saying in terms of they only found 3 problems in 250 opportunities. Obviously, if there are any risk I will take care of it. Just don't want to spend Un-necessary money on repairs that don't make sense.

@Bill B. I see what you are saying. That they look for risk and not repair. There really isn't much for me to worry about. But the repairs in the future are on me.

I didn't quite understand your statement "Those three items are over 20 years at 13 properties. If you don't mind can you elaborate.

I appreciate your insight thus far!

@Bill B. Is this different than FHA inspection? Which is more strict? And when you say allstate is that an umbrella term? Since the company I am using is not all state.

I believe I am up to code, but have no idea what that really means. But, as part of my FHA the seller did fix some concerns. Like the balcony handrail, rooting wood, and put on electrical covers.

What else should I look out for? 

Hello BP Family,

I recently purchased a quadplex and the insurance company is asking for an internal inspection. Quadplex was made in 1987.  About the unit the roof is about 5 years old. HVAC one is 8 years old and the other are 13 years old. Water heater were manufactured in 1981 (probably original install). But, everything is in working order. 

I got the property VIA FHA and passed the FHA inspection. I am not sure how different that is from the insurance inspection.

I'm concerned that the insurance company is going to have me make "HUGE" repairs. Is there anything I should be concerned about?

@Clark Kirkpatrick What platform do you use to find tenants? And what are your screening criteria? My PM is scheduling a professional photographer and the unit is clean and in decent shape. Should I be worried about the competition,  Do you have any other advice?

@Bjorn Ahlblad Wow, that is a excellent way of putting it. I never though about it that way. I guess being my first renter i'm very anxious. Wish my luck!

Hello BP Family,

I recently purchase a quadplex that currently has one vacant unit (2br/2bath).I have a PM to screen and find a tenant. I am worried about an extended vacancy. We have not listed the unit yet, we're taking pictures tomorrow.

The unit is in an "C" class area with a community of small multifamily, duplex and quadplex. I looked on Zillow and Hotpad and there are about 7 other listings that are for rent. I august/September a hard time to find renters?

People with quadplex in a multifamily community, how long are your typical vacancy?  But, should I be concerned about finding a rental. My price point is about average for the area "700". I have no intentions on lowering my standards in terms of background check, etc.

Being my first rental and vacancy i am very nervous and concerned. Wish me luck!