All Forum Posts by: Robin Secord

Keeping this thread going.  @Mindy Jensen - any update on the affiliate program for bloggers?  I would love to be able to share links to articles & introduce a new audience to BP:)  

@Joshua D.

That is good to know. I am trying to get some of the details about the cost from my PM now. I just want to understand better why the cost is where it ended up. I haven't been able to get those details yet.

We went turn key because we invested with retirement money through a self directed IRA. There are lots of rules around the IRA, you cannot "add value" because they consider that a contribution. The turn key offered a solution.

Indiana was chosen because we were new to the game and this was really the first turn key we ever talked to. It was later that we learned about the world of Bigger Pockets and all that other companies have to offer.

I don't blame the project management team or the turn key provider for any of this. This house has been one of those "hell houses" that they talk about on the pod cast. On the good side we have learned a ton. On the other side, it has been an expensive education. LOL

Sorry for the late reply, I was traveling all week. Thank you for your suggestions. I will follow up with the PM and see if they can talk to the neighbors and see if we can find out who did this.

Last week I talked with the city and learned that only about $2,800 of the charge was the cost of the tie in. The rest was labor and materials. I am talking with my PM for details of the charges. They have provided good work descriptions for about $1,300 of the work (this was for investigating and finding the issue) but the rest is pretty vague. They are telling me that it cost almost $5,000 to run the pipe through the crawl space and to trench it in 20ft to the road tie in.

Seems a little steep to me... Then again, I understand that it isn't easy work. I just want them to explain and justify the cost a little better.

Thank you again! 

Let me start with a little history. We purchased this property in Indianapolis through a turn key provider. The turn key company purchased this property through a tax sale. We funded the flip and then they have taken over management of the property.

It was recently discovered that the house and 4 of the neighbors were illegally hooked up to the city sewer. Now we are left holding $8,000+ in bills!

Has anybody ever heard of something like this before? Any advice or experience you can offer would be great.

@Account Closed - would you consider crossing into Michigan?  We have a few areas between Kalamazoo & Battle Creek that would fit what you are looking for.

@Andrew Abbott

Our approach is to let our student loans ride.  We are not paying them off early & picked the 20 year payment plan.  Our interest rate is below 2%, so we figured our money could be put to better use instead of paying them off early.  It is all about leveraging.

As mentioned above, if your rate is low - student loans are quite possibly the cheapest form of credit building you will find.  Having good credit is something that you can't buy & will come in handy when you want to purchase that first MF & then the following units down the road.  Having student loan debt will help to build your credit (as long as you pay on time every month).

Good luck with whatever you decide!

Hi - if you are looking to connect with a realtor in SW MI who understands what it means "to make the numbers work" - let me know.  

If you want to get a feel for a certain market, I can get you set up with searches too that will help you.

Feel free to check out my website as well - www.robinsecord.com

Let me know if you have any questions.  Thanks!

Robin Secord

A $1k mistake is much better than a $100k mistake!  You just paid $1k for an education - pretty cheap if you ask me . . .

@Ryan Kuja - I have always liked this quote:  "failure defeats losers & failure inspires winners"

Keep on keeping on & learn from those mistakes! 

Welcome to BP @Jake Loviska.  There are a few people on here from the area.  @Josiah Swartz has been organizing monthly meetings in Kzoo.  There is a wealth of information out here - good luck to you!

If we are able to meet up some day, I would love to hear about your world travels:)  

Welcome to BP Drew!  You aren't too far from us (BC is in the middle).  Not sure if you would entertain coming down to Kalamazoo, but @Josiah Swartz organizes a monthly meeting there.  Another good contact in your area is @Brandon Krieg.  Good luck on this real estate journey!