All Forum Posts by: Dan Vleck

Jeremy, 

I tend to repair appliances myself or replace them if the repair costs more than the depreciated value of the appliance. For this reason, I self insure them. 

I would like to hear your experience with the insurance.  Do you come out ahead insuring the appliances in your home?

Just my opinion, but if you win at the insurance game they'd likely drop you or raise your rates. Insurance companies rarely lose money.

Two hints on how I'm buying. Straight to listing agent and no inspection contingency.  Only recommend if you are confident in your own ability to inspect and know your numbers.  My last house was bought move in ready and 11,000 below list price. Current offer which I'm lead buyer is a foreclosure 7,000 over list price.

One of my tenants put in a cheap inflatable pool. When the insurance inspector drove by and saw it he insisted it be removed or they would drop me. Now my lease says no pools or trampolines.  I'd deck it over or sell the house and buy rental houses with the money.

I just signed a mtom with an out of towner. When she called about the house, she explained that she was offered a job at my w4 job. There aren't many housing options here, so I said you're approved and can move in immediately. Wonderful people.

 I did one a year ago when the caller said she was offered a job at my wife's w4 job location. Worked out fine. Short term tenant that bought a house.

I just signed a mtom with an out of towner. When she called about the house, she explained that she was offered a job at my w4 job. There aren't many housing options here, so I said you're approved and can move in immediately. Wonderful people.

 I did one a year ago when the caller said she was offered a job at my wife's w4 job location. Worked out fine. Short term tenant that bought a house.

I also agree older units last longer. I replaced a blower motor on a 30 year old unit a couple years ago. I'll keep fixing them and only replace a furnace if needed.

I have never paid someone to "maintain" a furnace. A tenant asked me to have a furnace checked because she has lived there 2 years and it hasn't been " serviced". I didn't do it and I don't know why you would. My thought is just fix what breaks. Curious what others think of Maintence Plans.

Use wood putty on the damaged front, then paint to match. For that rent, don't fix to your personal taste, but to clean and comfortable condition.

I had to replace a pipe this year. They took out the bad clay and pushed new plastic through the good section. Cost was $ 3500, but no problems under road or sidewalk.

I have an independent plumber. He doesn't have the overhead expenses of office staff and managers. 

I agree with moving out so you can amortize entire expense.  If rotorooter got all the way through, you might have a year before it backs up again. Hard to say.

It does suck paying big expenses. If you've owned it for a while, ask your lender about cash-out refi options. You might have equity to fix pipe and jump start savings for another house.

Good luck.

I buy when I can regardless of the season. I took on a short term renter for last winter, then this summer when tenants moved I raised the rent. 

FYI that storm knocked my power out yesterday. Still no power at my home.