All Forum Posts by: Carini Rochester

Would you mind providing a little bit of math of how you are netting $525/mo.? What does it rent for? What's the mortgage? How much are taxes? How much are you figuring for maintenance, repairs, cap x, PM?

Thanks, and congratulations! 

I assume you've been saving like crazy this whole year. Your housing expenses must be quite low since you are living in the small unit and renting out the big unit. How close are you to having a down payment for the next purchase? What is the After Repair Value (ARV) of the property? (After repair and after one year of what must have been pretty good appreciation, I'm guessing.) If the current value of the property justifies it, you go to a bank and apply for a refinance. Take your savings plus any money the refinance generates and go duplex shopping. I assume the next property would be your primary dwelling again, so you would get another FHA loan, I think.

Do you have 2d drafting done, or can you provide all the measurements? I'm checking a couple leads I have, but they won't be local to Louisville.

Absolutely a thing. Google search concrete grinding.

This was a bad concrete pour. Grinding the concrete is about the only long-term solution. And that won't look too good either.

I'm glad you had these costs figured in. It's a tough scenario. It's not just the money. It's stress and worry and the human element. Some people aren't willing to go through it.

You said,

"Got a decent deal which is because there is already a tenant living there. She is a hoarder."

Still think you got a decent deal?

This was a very interesting thread to follow. Thanks for the update on how this is going. I'm glad for you that she's out and the repairs are progressing.

Wishing you all the best.

The 'normal' methods of ventilation and insulation mentioned above work pretty well for many attics. However, you have a furnace in your attic. This makes your situation not normal. I very much doubt that correcting your ventilation and improving your insulation between the living space below and the attic will solve your problem. (It may help.) That furnace, even though it's got insulation around it, is putting a lot of heat into what is supposed to be an unheated space. I'm convinced, that even with ventilation, the heat from that furnace has to go somewhere. It's going to go up. Up to the roof deck, through the roof deck, to the snow and melt the snow.

Wish you well.

"Eviction" is a legal process usually reserved for uncooperative, non-paying (or other lease-breaking) tenants. You may just need to ask them to find another apartment. Nicely tell them your plans for the building. Explain that you will be gutting the apartment. It will be unlivable. Wish them every success in finding another place to live. Eviction is more expensive for you, could take a lot more time if the tenant decides to fight you in court, and the tenant may win the court battle, not you.

I have recommended (and I understand that it worked) to glue 1" styrofoam insulation to the underside of the roof above the furnace. That keeps the snow from melting and  re-freezing. Also build walls with 2x4 studs (and a door) around the furnace and insulate the walls with 3 1/2" fiberglass. No wall board needed. This should keep heat from escaping to other parts of the attic. The styrofoam can stay exposed because the attic is not a habitable part of the house. Furnaces should always be within the heated envelope of the house. This must have been a retrofit heating work-around. Would have been better to locate the furnace in the basement and run a main trunk up to the attic through some closet or corner of the house. The insulated duct in the attic would still have some heat loss, but not like what you are experiencing.