All Forum Posts by: Chris McDaniel

Howdy, and welcome to BP. If you really want to learn REI, this is the place to be!

I just wanted to update everyone on my progress to remediate the nicotine smell and stains. Well I applied a sealer product from PPG at the advise of one of my painters. After 3 coats of sealer this weekend it seems to have done the trick. We left nothing unpainted, and if it was permeable it got removed. My only fear is the new paint smell is masking the nicotine smell. A few more days and we shall see, but I’m optimistic!

@Anthony Gayden, there is no carpet or anything left. After I took position of the property I had a roll off dumpster dropped of and literately removed everything in the house except the Sheetrock. When i turned on the HVAC fan to let it air out, i thought i was going to throw up!

@Andrew Korver Thank you for the recommendations. I knew this was going to be a problem, but honestly I did not expect this strong of a smell after weeks of airing out and 2 coats of kilz. I have spoken to a few painters and they seem to think that another coat of sealer and then painting the house will work, but im skeptic. The problem is that I think the smoke has permeated the HVAC duct work as well. About the ozone machine, if i decide to go that route, do i run it before or after the painting? Can you recommend a Sherwin Williams product? 

@Christen G. I'll keep you posted.

Hi all, Okay, so I just took position of a property and the previous owners smoked inside for years. Everything is yellow. I’ve gutted the house and painted two coats of kilz, the house still smells really bad. It’s been airing out for two weeks and I can’t seem to get the smell out. Any thoughts, suggestions or ideas? A friend recommended an ozone machine but I don’t know anything about them. There is literally nothing left in the house that can be taken out, except all the Sheetrock. Anyone have any thoughts?

Dave Van Horn thank you for your reply. I do understand there are many variables associated with the question. I’ve spoken to a few bankers and brokers but no on has really taken me seriously at the moment because I’m not a park owner, and have nothing under contract....yet. I’m just trying to estimate my out of pocket expenses at closing.

I know there are a lot of variables to this question, but I’m just looking for a ballpark estimate. My gut feeling is 8-10% but that is just a wild guess.

Howdy BP friends. I have recently decided to shift my business focus away from the typical MF and SFR to mobile home parks. I have a good handle on bank financing when it comes to single family, but I have no idea what to expect for closing costs on a MHP. Can some one give me an estimate or help me understand what closing costs would be for bank financing on a park with a sales price of around 750k? Or if you have real numbers from a recent deal you can share, that would be awesome! Thanks!

Hey all. I have a question maybe someone can help me with and maybe even get an idea from something I've done. So I purchased a property by word of mouth awhile back. The seller had multiple DWI's and was on the verge of loosing his property and needed to sell because he was fired from his job for the DWI's. I was wondering if there was a way i could target people who had several DWI's or lengthy criminal records and had equity in their home? I think this may be a good strategy but I have had trouble building a list to market to. I would love some feedback on the idea and how to build this type of list? Thanks!

Chemical Engineering, BUT my degree was probably the biggest hindrance in my investing. As an engineer, I usually over analyzed everything and missed out on a number of deals. Also, feeling the need to belong to corporate America and "use my education" was also a big obstacle. I hope to continue to grow my business enough to hire someone with a degree. I just turned in my notice and took a job with a lower salary but more free time to be able to work on my RE business.