All Forum Posts by: Ronan M.

S#itholes can work to your advantage. Whats putting you off can also put off others. If the property showed like the Ritz there would be a line of buyers out the door. 

Look past the mess and if the numbers work and you can envision a better future under your management then the dumpy look now might get you a better price. 

Throwing out garbage and cosmetic fixes are no big deal. 

You are getting good advice.

Is it doable ...probably yes.

Is it wise...absolutely not.

Anyone have a referral or contact for a bathtub refinish job ? (Multiple Tubs)

Chicago Southside -  Greater Grand Crossing area.

I know...I am not a big fan or getting tubs refinished as they say the new finish does not last but I am willing to give it a shot. These are 100 yr old partly sunken tubs. The cost to remove them, redo the sub floor, new tubs, plumbing and tile work does not appeal to me. Plus I got a quote for those "over the tub" fillers - where they put a new acrylic tub over the old one. Price was crazy high.

If anyone has any experience of a bath tub refinish done well for a decent price please let me know. Southside operators probably would be better.  Would prefer a solid referral before I hit up Google.

Many Thanks

EDIT: Title should read BATH TUB and not BATTUB...but what's a typo among friends !!

Home Depot has had these for a while. I think I bought them a few years ago for my own house and always use them in my rentals since then. Work wise I don't touch anything electric so they are perfect to get the clean look at a super low cost

They do take just a little more effort to put the plug in because the plug has to go through the outlet cover first and then into the outlet. They need a little wiggle sometimes...but I am only talking maybe 3 seconds as opposed to 1 second. Well worth it. 

Great tip @Ashley Wilson for those who were not aware of it.   

let me know if you want the guy's info

I did a 6 unit refi with Marquette Bank

5/25 @ 4.125  

But that was 6 mts ago.

Hang on a minute....

20yr old furnace/damaged vanity/needs a paint job/deteriorating brickwork/collapsed catch basin/failing CHA inspections.....

And this was supposed to be a Turnkey ??......A Turnkey Nightmare ?

I hope you can get this property stabilized and turn things around.

You can list it all you want probably but how are you going to show it to anyone ?

Oh man. What is it with some tenants. That text from her to you should have been a call from her to the cops. When you signed up to own investment properties that did not include meditation of physically violent domestic dispute issues. Don't try to take this burden on your shoulders. There are laws and law enforcement to deal with such issues. 

If she is in a violent or potentially dangerous situation she needs to call the cops. They will handle the situation and the offender. If she needs him gone for her own safety she cannot expect you to facilitate that. And you should not have to.

She needs to get with the police to resolve this on her end and get rid of him. And to answer your question about that to do...follow the lead of the police and do the follow up lease and paperwork accordingly. I would not be trying to take the lead on something that is way out of the scope of our work.

Maybe not much help to you. But it bothers me sometimes that tenants think landlords are responsibly for absolutely everything in their lives. Hell she brought this guy in...you did not force a stranger room mate situation on these people.. then when her decision turns sour why do you get the first call ?   Unbelievable.

"They are asking $705,000 and my realtor saw they purchased the property back in 2013 for $649,000"

That's the red flag right there in my opinion. If they got list price for it, after fees and closing costs they would come out with what they paid for it. So this is not an appreciation play. If it was cash flowing buckets why would they sell it ?

So no appreciation, questionable cash flow and a less than desirable area.  Maybe somebody made a mistake in 2013...be careful you don't follow in their footsteps.