All Forum Posts by: Craig Janet

I would sue the manufacture of the circuit breakers, the wire and the landlord. After spending tens of thousands of dollars in legal fees you might get lucky and get a judgment to replace the spoiled leftover spaghetti from last week. 

C'mon man. Stuff happens. Stop looking for someone to blame. 

Pay off the 401k loans. Most 401K programs don't let you contribute until the loan is paid off. Yes, your are paying 9% to yourself but you are also missing out on your employers match. That's a 100% return plus any gains in the stock market.

Insurance companies will go the ends of the earth to find a reason not to pay a claim. Do not give them an excuse. Get the proper tenant occupied insurance it will be extra but not too bad. 

Some flooring is like that, they have "random patterns". I disagree that he mixed flooring. He installed what you told him to. The contractor isn't going to question your style. What was he supposed to, get halfway through and call you to tell you how ugly the floors you picked out were. You should have done more research than just a sample. 

This is an old post but wanted to bump it up to see if there are any other Lake Charles investors. How are your investments performing. In my world rents are down and insurance cost or up but still making money. 

So some random person offered you $900 more than you're getting now? What could go wrong? How much is it renting for now? 

82 degrees is too hot you have an issue somewhere. Have you checked the duct work you may have a leak? You said this is a duplex, why do you think the other side can get into the 70s but this unit can't?

I live in south Louisiana and our temps are over 100 degrees and my AC has no problems keeping my poorly insulated house at 73 or lower. I know some of my tenants keep there places below 70.

For some reason tenants like to keep their homes like a walk in cooler, so you will keep having this problem every summer with any tenant. You need to address this issue if you have exhausted all options install a min split or window unit to help the central unit catch up.

Any money you put into the house before it was rented will have to be depreciated over 27 years.

So to answer your question, YES it will offset SOME of your cash flow. 

 Agreed 100%. A car is absolutely an asset unless you're upside down. I think people are confusing asset with investment.

A primary home should not be considered an investment. Buy something in your budget and if it appreciates then that just a bonus.  

From a strictly accounting definition:

House = Asset

Mortgage= liability

Interest= Expense 

So yes a house is an asset.