All Forum Posts by: Daniel B.

@Jordan Thompson

You don’t/won’t own the telephone pole, utility company does.

Would you go fox a random neighbors grade issue at your cost?

Poles should have a wire, oftentimes 2. These are what keep it from falling over. These connect underground. There is a number on the pole, you can call the utility company with the pole number and ask them to take a look at it, possibly add a new wire, but ultimately this is not your problem. They should have an easement to be there.

@Ryan Coovert

Dropping from its peak that it hit recently, still up from a few months ago. Lumber prices traditionally $300-$400.

Many predict it will drop another $100 after summer, but that is still over double traditional prices and lumber materials is the biggest material cost on a new build…

@Nathan Murith

American Bank of Missouri (not a CU).

@Mark S.

The guy could be lying to get out,

But could also absolutely be true. We moved into a new construction house and have had multiple sewer smell issues but never consistently, one took a year to figure out...basement bathroom someone drilled a hole in the drywall (basement finished after moving In) behind toilet to run cold water line but hit the plumbing stack and cut a hole in it. We got a faint smell from time to time for a year...pulled the toilet half a dozen times, before finally realizing the problem. Most days it didn’t smell though. sewer gas is hard to pin point.

Ask him when he is getting the smell, after he showers? Flushes the toilet? Runs the sink? Morning/evenings?

If he is running the vent fan when he is showering for example he is creating a low pressure system that would suck in any sewer gas. If it isn’t running while the plumbers are there, nothing to smell...

I’d have him leave the vent on before going over yourself or sending a plumber.

Don’t lose a tenant over the cost of pulling a toilet...

@Eric Eckman

I am at equity trust, however other companies allow self directed IRAs with check writing.

As others have said, you have pierced the bubble in not keeping your individual vs Ira separate. I don't know if the seller would work with you, you would want to see if they would accept a new contract from the IRA and cancel the current contract instead of assigning it. I don't know if this would be enough to separate this, but better chance than what you are doing..

@Lexi Narducci

You timed the interest rate market perfectly. You won’t beat that rate. May not see it again in your lifetime, don’t lose it/refi out of it.

You can do 15/20 yr on future properties but that is CHEAP Money

@Blair Matejak

Also,

If you get a better rate because you live there, they will

Make you sign something saying you intend to live there at least 1 year...so you can’t move out right away unless you go with higher investor rates.

@Blair Matejak

Yes. Any future bank/mortgage broker will have to use the full draw amount of your heloc as your debt payment. If you have. $200,000 heloc limit, but only have drawn $10,000 of that, they will calculate your DTI as if you have drawn the full $200,000.

If you go forward, check for local credit unions and penfed for best rates. Keep in mind this is a variable rate and 10 year treasuries have shot up in the last couple days, some places already quoting 1/4 pt higher interest rate.

A heloc will have a lower payment then if you just refinance the 1st position mortgage and do a cash out loan because the heloc is only interest, whereas the conventional loan would be interest and principal, but would lock you in at a low rate...

@Mike Obrien

I went through this same thing last year. Only the person on the lease unless they both sign an addendum letting you give it to the 2nd person.

I am not a lawyer.

@Garrett Cannizzo

I am selling 2 this year because I expect tax rates to go up in the future. Don’t just look at the property but income this year vs future years, capital gains you would pay now vs the future etc. If you can essentially reset your cost basis to a like property it is something to consider.

Inventory is low now, some people expect that to change when eviction moratoriums are lifted. New construction is also still catching up from the recession years...people thought things were cooling off when interest rates started going up. Rates flipped and went back down and home values kept shooting up. At some point rates will go up again - could be years and then homes will be easier to find....