u/Key-Silver6551

I have an idea for a small electric car accessory. It should be overall pretty simple mechanically - mostly off the shelf components, 12V or battery powered. There are products in other categories that are somewhat similar so I can tell it's definitely doable but nothing exists for the purpose that I am trying to build.

I have worked in startups before but always had budgets to work with while I am still at a research/ idea stage and don't want to invest a lot before I have some progress. I would love to get feedback from users but even for that I need something to show. I also think Kickstarter would be great - what progress should I aim for to launch a kickstarter campaign? where do I start?

I'm trying to sell a place that is to date a mediocre investment- rent covers monthly costs but not much more. I have tenants in the house for another 1.5 months, listed 2 months ago and so far only a few viewings but no serious buyers. My agent thinks the market in the area is very slow and the place is priced right. Looking at listings in the area, it really seems like it isn't overpriced and I see very few sold homes in the past 3 months, however, if this continues I'm afraid I'll have to pay mortgage without a tenant while trying to sell. Is it better to drop the price by 3-4 months rent?

After reviewing hundreds of listings, thought this could be helpful to choose what houses to go and view:

• Fully renovated - someone painted a wall and replaced the kitchen faucet about 12 years ago
• Charming - it' s really very small
• Cozy  - you can touch both walls of the bedroom at the same time
• Has potential - nothing has been touched since 1987  
• Investor special  - you really need to change everything in this house
• As-is - the house has tons of issues we don't want to tell you about
• Original details throughout - outdated hipster style
• Move-in ready - the house is currently standing
• Needs some TLC - needs a contractor, a structural engineer, and lots of praying
• Open concept - a wall was removed
• Unique layout - you might have a washer in the kitchen 
• Vibrant/ neighborhood - noisy area
• Up and coming neighborhood - it's still not a great area
• Quiet street - quite dead around
• Rustic - rotting
• Vintage - rotting but with character
• One of a kind - genuinely weird

Walk away vs negotiate findings

I made a list of how to categorize common findings, hard to generalize but would love to hear how you see these. any other high level guidelines for super important/ not so important findings?

🔴 Stop everything, get a specialist first must get a specialist

Not just negotiating points. You just don't have enough information yet to make a decision and risk is too high.

• Crawlspace framing settlement or movement. Get a structural engineer, not a foundation contractor.
• Horizontal foundation cracks or bowing walls. Horizontal cracks mean lateral pressure on the wall- get a structural engineer.
• Active moisture in crawlspace or basement. ask the seller for written history and get a drainage specialist.
• Mold in HVAC ductwork. Get an independent air quality test.
• Oil tank. must get an environmental consultant before you do anything else.
• Unpermitted structural work. Pull the permits from the city yourself.
• Knob and tube wiring. uninsurable in a lot of states. Get a full replacement quote from an electrician

🟡 Negotiate

Issues that cost real money but can be priced. Try to get quotes for the work.

• Roof near end of life. Replacements run $10K to $18K depending on size.
• HVAC past mid-life. Furnaces and AC units last 15 to 20 years. systems past or close to end of life should be discounted.
• Water heater aging out. $1000- $2000 to replace.
• Federal Pacific or Zinsco electrical panel. Known issues, $2,500 to $4,500 to replace.
• Grading sloping toward the house. Usually not expensive to fix but it's been channeling water toward the foundation for years. understand moisture history.

⚪ Just budget for it

Not a huge deal but you should budget for

• Paint
• Old appliances that still work
• Caulk, grout, minor drywall
• Dirty filters

Curious what % of buyers manage to get credit or negotiate price following the inspection report.

the 2 main type of real estate mistakes: paid too much/ market shifted or missed issues with the specific house. Did anyone here get burned by missing something that was visible before they made the offer?

We were under contract. Really loved the layout, the street, the neighborhood. Then the inspection came back with a laundry list. Nothing catastrophic on its own but all together it felt like too much and mainly was just hard to understand what it would mean in terms of repairs and costs. We walked.
Part of me still wonders if we made the right call. What made you pull the trigger to walk?