All Forum Posts by: Daniel Ziner

First of all congrats on the long term rental.  It depends on what your interest rate is for your student loan debt.  If it is high I would say keep making those $650 payments and use your capital in deals that can make you more than that interest rate percentage.   good luck!

I would still get them added to the lease so you have a legal document in case anything goes awry.  I would absolutely do a background check, and a credit check if you're going to be charging any rent to them.  good luck.

@Jason Shackleton this is awesome congrats

I am at 50% late rent right now.  I have two duplexes.  Two out of the four tenants are on time.  One is late but is current.  One is a little over a month behind.

If I could go back and time and be in your position i would purchase a duplex rent out unit and get a 3.5% FHA loan. Little money down with little risk. This was you can learn to be a landlord as well as fix up your unit while you're living in it. After a year you can then rent out your unit and do it again with another duplex purchase. Delayed gratification, wish someone would've told me to do it 13 years ago. Whatever you decide good luck!

@Gordon Starr - Agreed I ended up getting two different quotes.  Going to save a lot of money that way.

@Bill B. thanks you so much for the info.  I will be sure to make sure, and I don't believe that it does!

@Ben Scott the duplex is on a slab, it's the main water line from the street to the house.  this quote is to basically re-do all of the plumbing.  sorry to hear about your issue, i know this stuff happens just tough to plan for.  Thanks for your response i appreciate it!

@Russell Brazil good point, i am just disappointed i missed it myself and it's my fault in the end.  I am getting a couple of other quotes just to have some options.  Thanks for the response i appreciate it.

Good morning everyone.  Wanted to see what your thoughts are on this.  I closed on a duplex a few month ago and now there is a plumbing issue where the plumber says that they'll need to change both main lines to the house and reroute the piping since it's all leaking.  He said it will cost $12,335.  I got the house inspected and in the inspection report it never mentioned the standing water so it was for sure leaking prior to closing.  I am going through the warranty company that the inspector has, but they said they will only cover a small amount of the repair.  Any advice moving forward would be appreciated.  Thanks!