All Forum Posts by: Trenton Miller

It sounds to me like you are handling issues that you shouldn't be handling.  In my opinion a landlord should not be resetting a modem...  Pick and choose your battles.  Ask the tenants if they have tried plunging the toilet before getting up to fix it yourself.  You need to decide what repairs require your attention and to what degree.

Purchasing a home with foundation problems has no pros in my opinion.  Because if you decide to buy the house for a lower negotiated price you still have a house with foundation problems....

Also don't expect an unreasonable amount in repair credits IF the seller agrees.  Typically you will need to provide some sort of written inspection and repair estimate from multiple vendors, and move forward with seller negotiations from there.

Looks like it's melted.  If I had to guess I would say a curling iron.  Good news is, this is a very inexpensive repair.

Do you live in an area with high winds?  If so missed nailing due to gapping in the sheathing could pose a problem for you.  If anything to fill the gaps, backing can be placed on the underside of the sheathing via the attic and then strips of existing material ie CDX, OSB, 1x6 ect. can be ripped to place and installed.

What type of shingles are existing on the roof?  30 Year dimensional, wood shaker, tile?  Typically when re-roofing the material that is removed is replaced with an equal or greater material depending on the situation.

30 Year dimensional shingles will give you the most bang for your buck and are very commonly used.

Have a survey of your property conducted by a professional surveyor.  If this is an encroachment shown on the survey you can have the encroaching areas removed.

I've heard some agents ask for 3%, and I've heard other agents ask for 6%

3% makes sense when you consider they are a buyer's representative, however, 6% also makes sense if you consider they will be the only agent handling the entire transaction. 

As stated above, you need to establish who will be paying the agent's commission, if one is used, in writing prior to submitting any offers.  

I would avoid Option B personally.  There are many options to accomplish Option A.  First I would find out what comparable rentals are going for in your area.  Will these amounts cover your mortgage and allow you to positively cashflow?  If so, I would then find out how much equity you can full out of your current home.  Make sure that amount is enough to put a down payment on a second property.  If it is then go ahead and determine if this is something you actually want to do.  Make a decision & go for it.

You may encounter difficulties with this.

Credit Check - Do you have a good credit score?  What about credit history length?

Verifiable Income - Do you have a verifiable source of income?  It's not uncommon for income to be 2.5x the rent.

Co-Signer - The landlord may require a co-signer on the lease.  Most will not include 3-4 people on 1 lease.

Rental History - Since you don't have any most landlords will require a co-signer

There are other situations you may run into as well, however, these are pretty common for someone in your situation.

Congrats!  Long Beach is a great area.  I'm assuming you will self manage as well?

Yes.  Trying to argue that the ATV is not a recreational vehicle would be tough.