All Forum Posts by: Chris Renzi

Hi BP, I have a few windows that need replacing in a rental property (1-3) in Somerville. Any recommendations on who you've used that did a good job at a fairly affordable price point? 

Appreciate the help! 

Chris

@Ryan Thomson Good advice and outline. Appreciate the help. 

Hi BP, Two questions here: 1. Spend the money to add a bathroom now. 2. Renting by the room or as a 5bd. 

I'm currently in a house hacked duplex in Somerville, MA. Bottom unit is rented as a 2bd 1ba. I am renovating the my unit, (4bd, 1ba, but has two offices that can become bedrooms. 1 would need a closet or armoire, other needs hallway access, which would come with the new bathroom)  paint, floors kitchen, looking into adding a bathroom but i'm getting quotes in the $50-60K range which seems extremely high? If I added the bath this does open up a hallway to the additional bedroom making it a 6bd 2ba. My goal is to get minimum $5K /mo. for the top unit, which I think I can do without adding the bathroom but could get in the $6K+ range with additional bath. Longer term plan is to condo out the duplex. 

Do I invest in the bathroom now or use capital for another investment? And do folks have experience with renting by the room? If so, what are the pro's and cons? 

Thanks!

Thanks John and Bill. Very helpful as I'm navigating this issue. I have opened both and working with each to understand what is covered under each policy. I'll look into the condo bylaws as well. Thanks!

Hi BP, Had a water pipe burst in my rented condo last weekend. The condo is part of a 3 unit HOA, with a Master insurance policy. I also have my own landlord policy.

I have claims into both insurance companies now as I'm concerned the master won't cover damage in my unit and I'd like to get this resolved ASAP (tons of claims due to the cold weather last weekend). Should I have opened both? Any guidance on what the best course of action here is based on this situation? Additionally, this is proving time consuming to manage both as there's multiple assessors, contractors coming to look at damage.. 

Thanks for the help! 

Kenny, Thanks for the guidance. I'll give them a call. 

Chris

Hi All, I'm sure like some of you, pipes burst in one of my rentals last night due to the extreme low temps. Plumber is coming by to find and fix leak but will have to break into walls, kitchen for sure, potentially more. I'll need help with wall repair once pipe is fixed. 

Have any of you worked with a good drywall contractors and would love information on reputable plumbers should the one we have not work out. Thanks!

Brian, I recently did the same thing, house hacked a duplex and inherited tenants. I had the option of removing them as their lease ended a month after I took over the property but raised the rent a little and resigned. Looking back I would have started fresh, especially since you'll be living on the same property. I went the easy route as I had a ton on my plate at the time (closing, finding tenants for my condo, moving, ect...) but it's been bitting me ever since. Incumbent tenants, especially if you raise the rent, will become a problem and one you won't be able to get away from. Good luck!

Very helpful. Thanks for the insights.  

Hi BP, I have a duplex that I inherited two sets of washer and dryers. The set that is hooked up to my unit (house hacking), is old and broken. I plan to get a coin operated machine as I'll be moving out next year and renting from here. Few questions: 

1. Speed Queen seems to be the best coin operated washer for this type of rental? Any other's I should consider?

2. What are folks experience with used/refurbished Speed Queen machines? 

3. Have folks purchased refurbished machines from Laundry Solutions: https://www.123laundryshop.com...? If so, what's been the experience? 

4. I'm debating on switching out my current tenant's washing machine with the coin operated one and hooking their machine to my electrical box.. However, I'm hesitant as I don't want to create potential unnecessary friction that may lead to headaches. Note, there's nothing in the lease regarding laundry. Thoughts? 

Appreciate the insights! 

Chris