All Forum Posts by: Account Closed

@Ronald Starusnak Yea if you could recommend a company that would be great!? This is my first rental and I have learned over the last year the hardest part is finding a reliable contractor to work with. When I first started out the situation with my electrician was a nightmare. Any help is much appreciated!

@Ronald Starusnak I read something on google about it, there is a crawl space under the house but it is tight down there maybe 3 feet tall from dirt to the bottom of the house. The house is 1017sq feet and the walls are pretty thin. I know the upstairs isn’t insulated very well and it’s a cape cod style home.

I have a rental in Rochester New York, the house is on a slab and from what I have read you can’t have an HVAC or boiler on a slab. The house has baseboard electric heat throughout but it seems to not be efficient and runs up the electric bill dramatically. Honestly the baseboard heat looks to be very old and they do produce heat but not much. Does anybody on BP know of a better option or maybe a product they have found to be useful? Thanks in advance for the help!

@Brian Dickerson If you don’t mind me asking, what PM company do you use in Rochester?

@Aqil Dharamsey Do you know of any good property managers in Greece or Rochester?

@Aqil Dharamsey Good luck to you as well! I’m eager to get started in on multi family in the near future and I will definitely reach out to you if I have any questions!

@Jason Hirko UPDATE. I called my lender and they told me it’s been on file since day one. Everything is fine and there is nothing to worry about. I think she could tell I was frantic, but apparently the very next paper I signed during the process was myself and the lender waving the one year. I feel like a major weight is off my shoulders. Thank you everybody for your input

@Jay Hinrichs I don’t have anything in writing but it was very openly discussed in a room of at least 3 other people aside from me. What should I do? I tried to do everything by the books and I was very open about the plan. Everybody in the room that was walking me through the signing process said don’t worry about it, it’s fine we know you’re going to rent it out. What should I do?

@Russell Brazil It was my first investment and I tried to do everything by the books, I was going by what my lawyer and everybody else in the room was telling me. Should I call my broker and talk to them about it? Should I just wait it out and feel fine come April of 2019? That would mark one year. I just don’t understand how it was a conventional loan and I put down 10% that I got a better deal than anybody else. I was very direct with the bank about it and they told me not to worry about it.

@Doug Pintarch I’m currently 2 months ahead on mortgage payments and have plenty in reserves to pay the mortgage for the foreseeable future if anything were to go wrong. I just don’t want any surprises come tax time.