All Forum Posts by: Steven Horvath

Here are some steps hope this helps! without knowing anything i am going to reccomend you change it all becuase you are already doing it and its cheap.
1) go buy a handle remover and a stem valve socket wrench, and a valve sea wrench. also get a towel and phillips.
2) Turn off the water to your house and the hotwater outflow on the waterheater. then turn on the sink.
3)use the handle removers and phillips to take off handles. you may need to remove the plastic cover to get access to the screw.
4) remove both or all 3 stem valves, you need to find out who the manufacturer ie. pricefister, and buy a valve stem replacement kit (20 bucks).
5) replace the seats with the valve seat wrench and then the valve stems. then put the handles back on and your done! should take less than 2 hours with drivin.
Steven

called today to get it switched, they said its the same price for rental as homeowners they just send a letter notifying theunderwriter that it is now being rented. Thanks for all the info guys, learn somethin new every minute!
Steven

thanks a lot for the info that seems like a much safer way to go. ima do a little research and get on it, thanks!
Steven

Just wondering what the correct way to do things are. I currently have homeowners insurance on what i owe on my rental (80k) not the value of the property (105K). Should my rental be insured for the full value of the building, building + land, or just what i owe?
I am sure the land doesnt need to be insured as it isnt going anywere. Thanks for the info!
Steven

Just my 2 cents,my first property was a HUD home with 1k in earnest money down. I was informed when i made my bid that if anything major was discovered in the inspection i could back out.

I think one of the hardest things to do is to determine whether you are buying in a declining neighboorhood, but definetly stop telling people you got xx amount. Maybe spend a year educating yourself on all the avenues, you might find yourself in a completely different aspect of real estate then you thought you would be in.
Steven

excellent topic, also this is how you sell/buy most expensive items, not just houses.

I don't know if there are more forms that come with being a member of the site, but i thought it would be nice to have a couple other forms up there i think are pretty common.
One is a just a late letter for nonpayment, i dont see one up there and think its a pretty useful one. here is mine if you wanna use it. Also if anyone has a simple payment reminder form to send the tenant and remind them before they are late, that would be nice.
Steven

Late Notice, Landlord to Tenant
Date:10/5/09
Dear Santa.
This letter is a formal notice to you demanding you make immediate payment of the past due and unpaid rent due under the terms of the rental agreement (Sec.6 A) covering the following property: 123 ABC, TX. 77777.
As of today, your payment is ___ Day past due. Your overdue rent is $ _____ plus a late charge of $ ______, for a total amount due of $__________. The check has not been received as of 4 P.M., 10/5/09.
This is a serious breach of your duties to the Landlord and as such requires your immediate attention to cure. Section 6a of the rental agreement states there will be a X dollar initial late charge and X dollars per day there after until all rent and late charges are paid in full.
If the full payment plus late charges are not received by 10/10/09, we will be forced to take legal action to enforce your obligations under the rental agreement.
If you have any questions about this, please contact us immediately.
Yours very truly,
_______________
Landlord

just prices i see driving around, or on criegslist, great place to get estimates, get 3-4 always for everything.

ok i talked to the owner today and got some more info. She is recently retired and has a mobile home, and is moving to chicago. She is not very bright on many levels. But anyway she is just going to walk away from the property and let it get forclosed. she hasnt paid the note in 3 months and the bank wants to work with her, but she doesnt care. so i am trying to figure out what the best avenue is.
and 892 a month is for a 30 yr at 4.5 with insurance,taxes.