All Forum Posts by: Tim Coppola

Agreed with what @Corby Goade said. If the deal itself is good enough for you to move forward then do it. MTM tenants can generally be dealt with pretty easily if you follow the rules. Might seem like a pain up front but after they're gone you'll be in a much better place.

My advice, find a good CPA and use them for 2022 taxes. That way they have everything they need going into next year. It will be worth the money.

@Michael Barnard

Great stuff! Thanks Michael. So if I use natural gas then really any furnace would do and I should focus more on the AC unit? Do you think variable speed and 2 stage blowers are worth it then?

And if a company included a quote for a Bosch Heat Pump (Inverter Ducted Split BOVB- 36HDN1-M18M specifically), would there be any reason to get a high end Trane furnace like an XV80? Or would any budget furnace suffice in that situation? 

@Michael Barnard

Thanks Michael. I appreciate the insight. In your opinion, is there a preferred brand that is better than most? I'm trying to get quotes on Trane, Rheem, Lennox and Carrier. From what I'm gathering Trane is the highest quality but is it that much more superior of a system?

@Kenneth Woodruff @Nathan Gesner

Thank you for the responses. I didn't realize changing one at a time could create issues. That's good to know. 

@Zak Marinko

Zak, just curious who you went with and what you had done. Looking at replacing my units and am looking at Trane for both.

@Nathan Gesner

Thanks for the reply. The current system is 16 years old and is still functioning, I am just looking to get it replaced as it's not the most efficient (turns on and off often) and two of the companies mentioned it's too powerful of a system for my place (100 BTU vs about 80 that is needed). Plus, after doing some research I like the idea of a variable speed and 2-stage furnace.

Just out of curiosity, why would you prefer to replace the whole system? Do newer furnaces not run as well with older AC units? Or are they ideally meant to be replaced together?

Hello everyone,

I am looking at installing a new furnace in my condo and had a few companies come out with a quote. When they came out I had them look at, and quote, a new AC as well just so I can get some figures but knowing that I only wanted to change the furnace. After choosing the one I am interested in I reached out to one of the companies and they came back with:

 "...however by not changing the AC portion at same time the new Trane XV80 is 40” tall & 17.5” wide. Existing furnace is 39” tall & 21” wide.
For me to just change the Furnace we will need to temp disconnect the coil so it can be elevated. We would then need to return in spring to Recharge the existing AC. I don’t like that idea for only one reason. Once to disconnect an old unit, we have to hope that the valves on the outdoor unit hold otherwise you will need to completely reclaim the old Freon and then put in all new R22. (R22 is billed out roughly $400.00/lb. Systems hold 8-10 lbs). And you still run the risk of compressor not starting back up. (No warranty on existing equipment).
We could go with a Rheem 2-Stage Variable Speed 80% efficient furnace. Those are 34” tall & 17.5” wide. That would give you the room without needing to modify the coil. Rheem furnaces are roughly the same cost as the Trane."

I'm just looking to get some opinions on this. I would rather not change both out right now as the payments would be bigger then I feel comfortable with but if this is a legit point then I would at least consider it.

Thank you in advance for your feedback.

Tim

@Michael B. Could another possible option be to put some of that money into an S&P500 index fund. These are down 25% from beginning of the year. If you believe that they will eventually get back to where it was and then continue to rise like it historically has then I'd say putting money there would be a good option if you're thinking long term. 

Hello everyone,

I was wondering if anyone can help me figure out what I would pay in capital gains on a multifamily property that I owner occupy. I am just wanting to explore all options if I sell and one of them being to sell and be done with investing in real estate. I am able to find calculators online for capital gains on single family homes or rentals but nothing on how to figure out breaking down what it would be for a multifamily property that is owner occupied. Any help would be much appreciated.

Thanks in advance,

Tim