Rentals

The Tale of a Troubled Toilet

We live in Northern Wisconsin, where it gets quite cold, this can cause problems, especially when a house is vacant, you trust that the furnace is working, and that the snowplow didn’t chuck a piece of ice through a window. Well, at the Woodruff house, we are in the Marketing stage for a Great Tenant, my property manager showed it the other night, and called m to say it was quite cold in the house, I almost couldn’t sleep that night thinking about what went wrong, we just put a new furnace in, and the place is rehabbed, the potential of water damage is minimised because we shut the water supply valve when we are not there.

The next morning, I got the kids on the bus, and off I go to see whats up, ye it was cold in the house, we had several days below zero, frost on the inside of the windows, I was nervous about damage.  after a quick Diagnosis, I found a blown fuse fuse at the switch on the furnace, my mistake when installing the furnace, I never looked at the fuse size, apparently 5 Amp is not enough to run this furnace rated to be protected at 15 Amps.

fuse

So now Heat is on, and off to make sure everything is ok, well… Slush came out of the sink faucet, and when I flushed the toilet crystals formed in the bowl, AH JUST IN TIME!!! So I thought.

I have a slight drip off the back of the toilet, ok its a new toilet so lets see, everything looks ok, I pull the tank, get some new bolts and seals, still leaks, I don’t want to waste more time so off to ACE Hardware I go, pick up a new everything in one box toilet, and I’m off to the races until I pull the toilet and find this.

busted-flange

In all Honesty it was fine, my handyman had a repair collar on it, but I cracked the non broken side. So off to ACE I go again (its literally a block and a half away if you count going across the parking lot) to find repair flanges, usually i wouldn’t get so excited about a toilet flange, But what I found was well worth sharing. here it is the Hydroseat!!!
repair-flange-boxinstrictionswax-ringrepair-flange-installedbowl-installed

This solution was amazing!!! for $20 it will repair a really messed up flange, and make the toilet removeable without the need of a new wax ring in the future.

Oh and after further inspection, the old new toilet had a hairline crack in the tank, it may have been there a while, or the tank froze enough to cause it, eithr way, my total fix was a few hours and $100 so not the end of the world. Let this be a warning, if you let a house unoccupied for any amount of time, even when you go on vacation, close your valvea a stop gap to prevent a flood if a freeze up occurs, this could have caused way more damage, but we were lucky with this one.

 

 

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Woodruff Rental is on the Market

The crew at Otter Rapids construction did a fantastic job on the paint flooring, trim ect!!! I spent last week pull the flexible undersized copper plumbing and replacing it with PEX, install my new shut offs and a bath faucet, installing a water heater, and replacing the furnace, now it’s ready for great tenants. Here are some photos.


Next week we are working on the Tracy st Flip, watch for updates.

Lead Paint and the USDA

Its been a year, and I’m finally done, last November I took ownership of a USDA foreclosure that had a restriction on deed for occupancy until a clearance of Lead Hazard was sent to the USDA and they release the restriction. We got a report that was about 1 1/2 inches thick of an inspection that tested almost ever surface of the house and garage. After Much work, a lot of learning, and post remediation testing, I got a call this morning from the USDA that they will be overnighting a Quitclaim Deed Removing the restriction.  This means we can rent it out, and start getting some of that investment back. Here are some pictures, its a 3 Bedroom 1 bath, with a huge yard, and a brick patio, it will be a fantastic home for someone.

Tracy St

front

Today we won another deal, a 1991 Built 3 bed 1.5 bath home in a great location, with a mostly finished basement, the plan for this is a flip, more to come as we proceed.

I will be wiring funds for Blaine st in Merrill Thursday, docs are signed, and we are good to go on this one.

picture-uh7748a4274fe326e1815daebb17f8a6b3-psa4cf1a3be13fb082caecc03758c2b8a-208-blaine-st-merrill-wi-54452

I have more exciting news to share, but cant, just yet,  maybe sometime next week.

 

An update on the work we have done this year

2016 to this point has been quite a year, we have added 10 rentals, and have flipped 3 houses, so i wanted to give an update on some of the previous posts.

The Minocqua House,  as much as it would have made a great rental, it was a big project, so we listed it for sale, the traffic was nuts, and we ended up with an offer, it sold to another investor, who is planning it to be a winter project for them.

Rosemil was kinda an oddity to me, when i was winning bidder at sheriff sale, I sent a text to a few agents I know, and offered it AS-IS to their buyers, allowing for inspections, I would fire up the plumbing, heat, they could inspect well and septic, ect. but they would get the trash,  and they would clean, paint, ect.  well low and behold, one of the agents had just such a couple looking for a country retirement home, and the purchased it from me, they got a sweet deal for some sweat equity, and I made a profit to boot. Isaw them the other day at Menards, they love their new Home, I cant blame them, all the apple trees attract tons of Deer, as well as Turkey, Coyotes and Fox, they told me they have seen. hoge change for them from living in town their entire life.

Moving forward we have started work on Deleglise, should be before the end of the month, Woodruff soon after that, and as its going we have 3 others waiting to close, 2 rental and a flip. should be a fun few months coming up.  I am gona stress a bit though we are taking a week vacation, which I cherish the time with my family sooo much!, but will be slightly distracted by the work back home that I could be doing.

 

Enough work for all Winter

I buy Properties several ways, I love my Sheriff Sales, but I watch and bid the online auction sites, as well as MLS Listings, HUD, USDA, FNMA, ect.   I bid on a property online and got a response on August 25th, they told me what the minimum acceptable amount was, and I should resubmit my offer so I did, I resubmitted my original offer, about 40% of the List price for the property. the asset manager said she submitted it to the seller, and would let me know when they respond. every week since I have sent her an email, asking if my is still being considered, and if it is it still stands.  Today (43 days later)  I sent that same email, and got the same response, then about an hour after that I got a Phone call from the asset manager saying the seller accepted!  My Patience Payed Off. I will be adding another one to the list of projects, that makes 4 Rental rehabs, plus a Flip, I think I have enough to do this winter. I hope I can keep it all straight. photos to follow, once I have an executed contract.

Deleglise St

Another Successful Sheriff Sale today, We landed this Gem  for less than the price of the average 7 night cruise Vacation for 4, will need a few things, like a new roof, some flooring, and we will convert from Oil Heat to Gas. Not sure yet when the confirmation hearing is, but i’m guessing October some time. Here are some Before Photos.

Great Deal on materials, and funny picture

I had a hectic day yesterday, hauling kids around for Extra Curriculars, and running my Business,  getting everything up and running for an end buyers inspection on a property, that’s becoming a challenge to say the least, Power has been off for I don’t know how long, dewinterizing, and getting stuff fired up, I struggling with the Water Heater and the furnace, we will get it one way or another.

There was a split pipe just below the main water shut off, so i had to get some parts, Home Depot did not have any 1″ copper fittings, not sure why i went there first, i usually go to Menards. On arrival at Menards, I see this: home depot

The prices at Menards are so much better, that it makes sense to rent the truck at Depot and buy your material at Menards.

Ok Enough Depot Bashing, I do buy stuff at Home Depot, as a mater of fact, I got a great deal there,  I picked up 1,176 Sq ft of Trafficmaster Allure that we use in rentals for $650 and will get a gift card to match the 11% rebate sale at Menards so net I paid just under 50 cents a Sq Ft for stuff i usually pay $1.49-$1.89 a Sq Ft for, Great deal!!!