All Forum Posts by: Mike D.

@Tyler D'Alessandro

Galvanized water supply piping immediately comes to mind!

This piping fills up with rust and sediment and limits the flow. I've seen water in some older houses just trickle out because the galvanized pipes.

If you have access in the basement to replace it that is not as bad but still a big expense.

@Drew Steusloff

I've had some luck on the MLS by targeting properties that have been on the MLS for a while. At least a few months.

It's usually overpriced or theres some issue with it that makes it hard to show.

And make your offer and work directly with the listing agent as they will be more motivated to get the deal done. And have more info on the sellers situation.

I'd say condos. They attract good tenants, have next to no maintenance and usually rent quickly. You will get a lower return than apartments but apartments are a major time sink. Plus condos are a lower barrier to entry (cheaper) than houses and apartment complexes. Just do your due diligence and research the HOA.

I think you'll sleep better at night if you hired a reputable GC. I subbed out a small house remodel and I think I spent just as much time working with contractors as I would have if I had just done it myself. If you want to find guys who can do the job right at a fair price and time line you will put in the time to find them. If you have a day job forget about that!

My tenants paid on time except for the usual suspects.

Next month is going to be tougher. Most people were only out of a job 1-2 weeks in March. But come May 1 there will be 6 weeks of some people being out of work.

This is exactly why nobody should be waiving any rent. You think these other jurisdictions and large corporations are going to waive anything??? I understand if somebody gets behind but you need put them on a payment plan and hold them accountable for the full amount they signed a lease for.

I'm cool with this as long as the banks, insurance companies and tax jurisdictions cancel all payments and interest.

You've got to have reserves. But if you have too much reserves then you are diluting the return on your real estate investments by having a huge chunk of cash earning 1%.

I think commercial retail space and possibly the low end rentals where service workers live will take a hit long term. We will see a paradigm shift to more remote working and more take out.

Other than that it won't affect real estate. After spring breaks the cases will drop sharply and people will become sick of quarantine. Restaurants will open back up and people will travel. By the next flu season there will be a vaccine or at least a reliable treatment. 

The stock market was up 10% today.

The Foreclosure suspension only applies to single family mortgages backed by the FHA. If you have a private mortgage or a local bank mortgage I guess you're still on your own.

https://www.cbsnews.com/news/t...

In a statement, HUD said the moratorium applies to Federal Housing Administration-insured single-family mortgages for 60 days, as well as Home Equity Conversion mortgages, or reverse mortgages. Secretary Ben Carson said the decision will "provide homeowners with some peace of mind during these trying times."