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All Forum Posts by: Adam Morgan

Adam Morgan has started 5 posts and replied 43 times.

Post: Need to remove VA Loan from rental

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20
You can actually have 2 VA loans at the same time. The total amount available on the second will be reduced by the amount of the first loan. Might not help for CA prices real estate but you should have around 417-130=$287,000 left on your eligibility. For what its worth, I have 2 VA loans open right now. Can't get a third though. Adam

Post: efficient heating options? philadelphia row home. i pay electric!

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20
Coming from an AC guy.... I love mini splits, but when the warranty is gone, prepare for HUGE repair bills. Same is true with high (17+) SEER units. Simple heat pump with the air sensor installed INSIDE the return. You can set temperature limits on most thermostats today if thats a concern. Those mini splits heat down to low temps because they reduce the fan speeds to deliver half the amount of heat. Same high temperature, just not a lot of it. Adam

Post: Should We Install Central Heat & Air?

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20
Coming from an AC guy... Check with the local power company, some give rebates to replace (upgrade) window units with central AC. If you do decide to add it, stay with a "simple" unit. Ask the company for the average price to fix something. High SEER units are expensive to fix. Adam

Post: Tenants Keep Calling AC Company Directly

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20
I actually work for an HVAC company and your problem is not with the company. Its impossible to know and check the ownership of every service call that comes in. If you fire them, the tenant will just call another company and you'll have the same problem. Our company must get approval from the landlord before performing work, and we don't discuss the condition of the equipment with the tenant unless its a health issue. That said, if an owner tells us not to go out without approval, we know that because of our computerized records..... Not all companies have record keeping programs of any kind. Ultimately your issue is between you and the tenant. Dont pay the bill and the company 'could' put a mechanics lean on the house. And any good company would warranty a new unit for at least a year on their labor and not charge a service call either. Adam

Post: GA- How much is good price for hardwood refinish, carpet, pad?

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20
Price sounds good for that small a space, he is looking at 4 trips minimum. Thats ifs you let each coat dry. Most of that labor in smaller jobs is in the number of return trips. Adam

Post: My new Quad: Help me not break my bank

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20

And the best part about Vinyl planks is they are waterproof. Just make sure the subfloor is in good shape because the planks are thinner and more flexible than laminate floors. That was my first project with those floors but used them from others recommendations that they last longer than carpet, and are cheaper than tile, about the same as laminate but waterproof. (The planks themselves are but water can still get around the outside edge).

Post: My new Quad: Help me not break my bank

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20

Hey Yuriy, I replaced the carpet and water swollen laminate in a new quad of mine recently with Allure Vinyl plank flooring from HD. I went with the locking kind. Less than $2 a foot, and if you don't put it down yourself, I had quotes from $0.80 to $2.00 to install it.

Post: Best products to insulate rigid metal AC ductwork

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20

That bubble is called "Reflectix",   Just google r-6 bubble duct insulation.

Post: Best products to insulate rigid metal AC ductwork

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20

Not sure about NC, but GA code is R-6 on duct in a Crawlspace. Should be foil faced. Go by an AC company or distributor and they will probably sell it to you. The company I work for quotes out jobs like that for free if you don't want to do it yourself. We actually use plastic bubble insulation like the packing material. No itch but it must be installed correctly. Works great. I'm sure you can youtube it. Its a silver space age looking bubble wrap in 4' widths and comes in a roll 100' long. Were only in GA but let me know if you have any questions about it.

Adam

Post: Help. Seller owes what the house is worth. What do I do?

Adam MorganPosted
  • Real Estate Investor
  • Athens, GA
  • Posts 44
  • Votes 20

What can it rent for? You could buy it sub-2 and lease option it to a new buyer (if it will rent for more than 1250 plus a little for profit). What terms are the original mortgage? Negotiate a short sale if he cant afford the realtor fees and needs out. Good luck.

Adam