All Forum Posts by: Zoran Domazet

Hey BP fam! 

I recently purchased a 2 story duplex and will be doing a few updates over the next few months. I am looking to replace the cast iron drain pipe with a PVC scheduled 40 4" pipe. I am currently shopping around for quotes and would like to get some insight on this job from the ones that have experience with this. I will be removing/replacing the dry wall to make the pipe accessible for the plumber, I would also like to re-drain 2 kitchens and 2 bathrooms. Each unit is 2/1 with the same layout and the drain pipe runs in the middle with the kitchen on the first floor and bathrooms on the second floor above the kitchen. I am assuming I will have to remove part of the ceiling above the kitchen to access the drain lines to the bathtub and bathroom sink.

Do I need to acquire permits for this job and what would be the best way to go about replacing the whole cast iron pipe from the roof down to the crawl space. Would it be a good idea to also replace the pipe going out to the city tap and to install a 19" clean out outside the foundation?

Let me know what you guys think. Please see pictures of the cast iron pipe in the crawl space. 

I've reached out to the foundation repair company for more details and information on the repair as well as the warranty. Thanks for the reply! 

Glad to hear, I've already sent Daniel Miller with Brightway Insurance an email. Thanks for the info! 

Hey BP!

I am a fairly new investor from Jacksonville, Fl and in the process of closing on my first Duplex. I am currently shopping for homeowner insurance quotes and wanted to see if anyone has any recommendations for a great insurance company that insures multi family properties. Let me know your thoughts and recommendations. Also if you have any advice or tips as this will be my first multi family purchase. I look forward to hearing from the BP community and if you have any questions feel free to reach out to me.

Hey guys! I am currently in the process of making an offer on a SFR that will some rehab work. The property is not on the market but the seller is willing to sell because he has multiple other properties that he's currently working on. When I pulled up the permits I noticed there was a foundation issue which was repaired by " injecting polyurethane for void fill" by a local foundation repair company. The owner states that the slab the bedroom sits on, had a void that needed to be filled. The void was filled by a reputable foundation repair company and passed inspection. The owner paid $5200 for the job and states that the repair is warrantied by the vendor. I've never had any foundation issues and I am not familiar with this type of work. I would like to know if this is something I should stay away from. Let me know your thoughts. I appreciate the advice in advance.

I've looked at both duplexes last week and all 4 units will need some rehab work. The kitchen and bathrooms are in pretty bad shape and will need to be updated. 1 of the units has busted out windows with cardboard over them and 3 units have really old AC units while 1 has a brand new unit. One of the units has a leak in the ceiling and wood damage in the hallway. They have removed all the drywall and you can see the rotten wood through the ceiling. All 4 tenants in place are month to month lease with monthly rent at $650. Let me know if you have any questions. 

I use to live on Gate pkwy. It is a great location and very desirable area. Summer keys has new construction as well.I have a buddy that purchased a new condo there for approx 130k. Have you looked into any SFR?

What part of Jax are you looking at? 

@Aaron Yang I might be able to pull it off with an FHA loan but I am also open to other lending options (conventional loan). I've got a pre approval from my lender yesterday and he's confident we will be able to move forward with a government loan. My concern is that I am competing against all cash buyers and since this is REO that I will be at a disadvantage due to my financial contingencies.

My exit strategy is to refinance and use the funds to purchase another property. If the market turns I am planning on holding and renting out until things level out. Please see below analysis of the property. Any feedback is appreciate!

CapEx and repair est are on the lower end due to the rehab that will be done before the property is rented out.

@Bella Walsh the plan is to have the property inspected and have an experienced contractor come out and do a detailed estimate before finalizing the deal to make sure the numbers I have are in line with everything.