All Forum Posts by: Account Closed

I've started a couple projects lately that I'm in need of an engineer to sign off on various things, I've used one here and there in the past but have been having a hard time getting someone to come out and look, I'm guessing because everyone's already busy. Anyone have any recommendations? The need relates to permitting and structural changes, most of which are pretty basic

Asking our regular one yes. This property is in a more rural county and the title company I am talking with there has not been a huge help

I'm looking at a property with a past title issue and was hoping to get some advice. Anyone have an attorney they'd recommend?

Make sure you are using comps that include a sex dungeon basement

Around here most homes that are that old have already had one or both updated at some point, but they could have been updated in 1960 and now you are faced with the same question again. We have worked on several older homes like this and looked at many more, and my advice would be to wait until you are familiar enough with those items to answer those questions for yourself - if you are on here asking, it is likely you will run into lots of issues in an older home that end up being a surprise problem. Once you are familiar, you can weigh the pros and cons of replacing or not replacing, understand if something needs to be replaced or not - every house, esp one that old, will be a different case. If you are going to replace, you just factor redoing the plumbing, electric etc into the purchase price - but to do that you must know the cost, know what other issues are likely to come up as added expenses, what is required by code in your area, etc.

Sorry for spamming BUT let me just EMPHASIZE every other WORD BY PUTTING THEM IN ALL CAPS AND REPEATING HELP IN ALL CAPS OVER AND OVER

If I was in this position and really wanting to get started in real estate I think I would find a way to save up money and just go get my license - that also seems to be the advice of most on the site. You would learn a lot through that process. As far as wholesaling - along with the moral issues you mentioned, the level of knowledge required, etc. - keep in mind that many people's homes are their largest asset, do you think they will readily sign this over to an 18 year old who is claiming to be buying their house in cash somehow? We do pay cash as the end buyer, and often people are still wary of who we are and take a while to trust we are not scamming them. I would just be realistic about whatever your plan is before you spend a ton of time on it and burn yourself out on something that won't go far.

@Account Closed As was mentioned no idea on the neighborhood, but where we look I don't believe any of that would be a net positive on added rent. Gutters could make sense for mitigating future foundation issues but may not be necessary since it sounds like the house hasn't had any yet as it is, you may never know if adding them would help or not, barring an obvious spot where they would improve drainage.

Also along with presumably not getting you any more rent, it will just be that more of a capex expense if your next tenant messes up your new quartz counters somehow vs what I assume is existing laminate, or breaks the expensive thermostat etc. 

What I have been doing and what offers we've received look like is $100-250 option for 7-10 day inspection, and ~1% purchase price for earnest money, in the 150-300k price range.

I would second what @John Warren said - I have looked at several half-done projects in my area and my first question is why are they abandoning this - aside from whatever the given reason is. And of course the pitch will be "well we already did this, this so you don't have to worry about that at all" but you may very well need to. I would not advise it if you are not very familiar with electrical, plumbing etc. Someone took over a half-done project near one of our current flips, and based on what they paid I don't see how they are going to make any money. But I could be wrong, of course