All Forum Posts by: Todd English

Great, thanks @Mark Jones, I will call around!  I believe that is permitted here as well.  They can probably do it quicker and reasonably. 

I'm hemorrhaging cash right now and am trying to see where I can squeeze a few pennies to keep the bleed down.  This was one of those unwelcome surprises :)  I probably will need to hire out though based on the comments so far and the amount of digging that needs to be done.  I would enjoy using the excavator though!!   

Good call @Joshua D. on the section of pipe to support the sidewalk/surrounding soil.  I didn't think about the slope for the sewer line, may need to have a plumber come in for this.

Thanks for tips @Kiet N., I need to find out what type of pipe material the city allows for this section of line, pex would be my usual go-to.

Good questions, @Kiet N.!  Have you done this work before?

Meter is in the basement.  However, in this city, they are only responsible to the curb.  So, I'm on the hook. 

Yup, a permit is needed, sidewalk - maybe needs dug up (I'm hoping I could dig underneath it with a hand shovel without it collapsing/breaking?), there is lawn only and the depth ranges from a few feet at the city connection to approximately 7' near the house.  The city has already replaced the "street box" where my line connects to theirs and have "gauged" the line to confirm it is on "my side" of the service.  Sounds like a lot of digging. 

Thanks Joshua for the info!  Good point about cost vs. benefit; my time, cost of equipment, etc.  I should also mention the house is 97 years old and the sewer line is likely clay tile.  I'm thinking that we should go ahead and replace that as well since we'll already have it dug up (it runs parallel to the water line on the property).  Good thing to consider?

Hi James, unfortunately, no.  Up here, they are responsible to the curb only.

Good morning BP! So, we're working on a rehab HUD foreclosure in Duluth, MN. We've recently closed and discovered the water main from the street to the house is broken and needs repair/replacing. Anyone tackled this kind of work in the past? Is this doable for a DIYer?

Thanks much for any feedback!

@Daniel Patton, sorry this is a bit old now, but I was just searching for information on the same topic and saw this post... I just talked with my title company (in Minnesota) and they said that here all that is needed is to file a quitclaim deed with the county transferring the property from you, the individual, to the LLC. Seems pretty easy. The gal said it really is that easy. I believe the county here charges a small fee for the filing. Good luck!

Welcome to BP @Josh Bast!  I'm not familiar with MorrisInvest, but I'm going to check them out.  Always looking for more info! 

Thanks @Thomas Sill, I think I'm passing on this one.  I expect the closing costs to be paid by the seller, it seems to becoming more customary here.  I try to analyze 3-4 deals a week... that said, sometimes there are not enough deals in my particular segment to look at.  Which is why I was considering even this lean deal :(  

What should I be shooting for as a minimally acceptable monthly cash flow per door?  I'm new to this, so would appreciate any input!

Thanks @John K., you are correct! I should account for vacancy and maintenance. I typically do not allot much for maintenance the first year or two on a condo or townhouse arrangement since I replace most everything when I buy it and exterior maintenance is taken care of by the HOA. If I add in 8% for vacancy (projecting one to rehab and get it leased up = $78/month), it changes the math to +$47/month which could be argued that the small amount may be gobbled up by potential maintenance. Year #1 is tight.

Where should I go from here?