Well 100 year old houses

   #54  

Rhino

K-9 BAMF
Joined
Dec 12, 2001
Messages
17,969
Location
Fuck you
How much would it cost to insure that fucking flaming death trap?
Not many 100 year old cinderblock houses around.. almost all the places I love are wood construction. Key is to follow codes and no fires should happen if you do.
 
   #56  

Rhino

K-9 BAMF
Joined
Dec 12, 2001
Messages
17,969
Location
Fuck you
Real lightening gets a fair number of houses around here.

Many of the 100 plus year old houses get hit from knob and tube wiring here.. the last victorian I owned some asshole electrition went to the trouble to rewire the basement, 1st floor and second floor with BX cable (even though he could have used romex by code). I did some work on the third floor and found this asshole tied the knob and tub wiring into a junction box fed by one circuit. Turned out they never replaced the knob and tube on the third floor.. how the inspector missed that is hard to understand. But it must be common in that neighborhood as most fires where third floor fires in the old homes.


The old victorian to my suprise had a roof lightning rod network done properly to ground.
 

Rhino

K-9 BAMF
Joined
Dec 12, 2001
Messages
17,969
Location
Fuck you
Will this make a profit in the time frame from start to sell.. here if a house isn't flipped in less then a year you pay the property taxes. That a big nut in some areas and can put you in the hole on a project flip
 

tinhead

Has never named a pet
Joined
Jan 1, 2002
Messages
31,211
Location
Northeast CT
Here in CT, property taxes are pro rated at closing.
i.e. property taxes are levied on an Oct 1 - September 30 year, amount $4800/ yr.
If the closing is April 1, six months into the taxyear, the seller pays the buyer $2400. A flipper owns it for a month of the taxyear, the buyer gets back $400. If the renovation takes 11 months, the buyer gets back $4400 at closing.

There ain't no free lunch.
 
Joined
Sep 9, 2002
Messages
4,338
Location
Indiana
Here in Indiana they give homestead exemptions to banks that own foreclosed properties, then when someone else buys it they bump up their assessed value. Apparently homes that are owned by individuals are worth more or something.
 
Top Bottom