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All Forum Posts by: Sam D.

Sam D. has started 8 posts and replied 16 times.

Hello, I am about to sign lease and want to be sure that Tenant is aware that I am going to report his monthly rental payment to his credit agency but I am not sure how should I proceed and what steps I need to take to make it happen.

Any advise?

Thanks

Sam

Hello, can anyone suggest a good attorney for single family house? Also what is the average amount do attorney's charge for such agreement ?

Thanks

Sam

Hello, I was wondering what is your experience OR opinion about renting to a restaurant owner?

I am told in my rental property 4-6 people will live and the owner of the restaurant is willing to may more than the market price.  
Few of my concerns - What if there is someone illegally living in my property? What if they sue me? What if the owner instead of putting 4-6 people decides to put 10 people? 

May be I am over thinking this. I will ask the restaurant owner and people who will be living to sign the lease. (some safety...)

What do yo think of the overall situation.

Thanks

Sam

Post: Is Land Survey important

Sam D.Posted
  • Posts 16
  • Votes 5

Thanks all for your suggestion. I went ahead and ordered it.

Post: Is Land Survey important

Sam D.Posted
  • Posts 16
  • Votes 5

Is Land survey important and when it should be ordered? I am buying a property and I am asked by Attorney should he order land Survey? It will cost me $750.

Thanks

Sam

Post: Fix Sewer line before closing

Sam D.Posted
  • Posts 16
  • Votes 5
Quote from @Bruce Woodruff:

The city (as clearly stated) will not be responsible for any repairs except from the main sewer line to the curb. You are responsible for anything else. Where is this 39-41 foot failure located is the question? Behind the curb?

And don't forget to replace the cast iron under the house while you're at it. It will keep failing since it is way past it's expected lifespan.


I think 39-41 foot is located outside and not within the curb. So here is the plan.. to cut down on the cost, the plumber is stating, let's not touch the current pipe but let's put a new one, the current pipe goes through the main steps of the house and also through a retaining wall, the idea what the plumber is suggesting that we put a new pipe, and let it go through the drive way, this way we will not have to excavate a lot and it will be cheaper.

Does this makes sense ? Do we need to remove the cast iron if it is not being used ?

Post: Fix Sewer line before closing

Sam D.Posted
  • Posts 16
  • Votes 5

Thanks. I got the report and as suspected the inspection failed. I have copied the report here...

After Hydro Jetting the sewer pipe under 3000psi pressure with a special cleaning nozzle we were unable to clear the buildup within the pipe. The sewer inspection began from a clean out located in the basement. We inspected the sewer from this point to the 41ft mark and was unable to push the camera further due to a separation in the pipe. Upon inspection we found the sewer pipe to be of cast iron material up to the 31ft mark then changing to clay pipe the rest of the way. Throughout the first 31ft of the cast iron section of the pipe. There is large Mineral deposit buildup causing deformation within the pipe which can cause restriction in solid waste flow due the the lumpy and jagged feel.

At approximately 38ft we found a big separated connection within the pipe. You can see the pipe is no longer connected at the top
and has offset downward approximately 30% from its connection. There is still enough room for waste to drop down into the next section but it has separated.

At the 39ft and 41ft mark, there is a separation at both of these connections of the clay pipe. You can see the gap between the
two and waste water getting in between the connection into the ground. This is a major concern because eventually the offsets
will completely separate from the connection which in-tern will cause a blockage into the sewer system not allowing waste to
flow out. The only way to resolve the issues found would be to replace the entire sewer pipe to the city sewer connection.
Based on our expertise and findings, the sewer pipe at the property FAILED inspection and we would strongly recommend
having the sewer pipe replaced. Approximate cost for replacement is 15-25 thousand.

End of the report

Now per Townships guide lines -

Sewer Line Backups

It is the homeowner's responsibility to keep the sewer lateral clear and running, and if there is a backup they have to clear the lateral. This includes the entire length of the sewer lateral from the house to the sewer main, regardless of if a portion of the lateral is in the street. It is the Township's responsibility to clear a backup in the mainline.

If it is determined there is a problem with the sewer lateral pipe itself, such as a catastrophic pipe failure, which requires excavation to repair and that problem is in the street, it is the Township's responsibility to make these repairs. A problem with the sewer lateral pipe requiring excavation behind the curb is the homeowner's responsibility to repair. If the entirety of the lateral is behind the curb going to an easement, then no portion of the lateral is the Township's responsibility.

My plan 

1. Call the town tomorrow and show them the report and video recording. I hope they will fix the issue since it is on the main road and not at the within the house. I have no experience and I am not sure how would the town react. I will update this thread after talking to them.

2. The owners have agreed to pay $4500 during the closing and remaining ($4500) I would need to pay.

3. I will have to fix the issue after closing. 

Do  you think this is a good approach OR you have some suggestions?

If you need to see the video then I can upload it. 

Post: Fix Sewer line before closing

Sam D.Posted
  • Posts 16
  • Votes 5
Quote from @Jonathan R McLaughlin:

@Sam D. If I was in the sellers position I would feel like this is a great deal for me. Not sure why you haven’t demanded to see their report either if they got it as a second opinion to yours? Is there any reason why you aren’t telling them “hell no pay for everything” and you just do the landscaping?

I have asked them to show me the report. I hope I am able to see it soon.


Post: Fix Sewer line before closing

Sam D.Posted
  • Posts 16
  • Votes 5

Hello, I was wondering what has been your experience with fixing sewer line. Is this is a major issue OR something that can be addressed easily ?

Brief background about my situation - Home inspector raised a red flag, the 2 second inspector also did the same (I have not seen the report) second inspector was seller sponsored but they have agreed to change the sewer line before closing and I have to bear 50% of the cost. 

Per the sellers contractor - they will "EXCAVATE AND BACKFILL FROM FRONT OF HOME TO THE CURB LINE., REPLACE CAST IRON SEWER WITH 4" PVC PIPE., NO LANDSCAPING OR LAWN RESTORATION".

I am wondering is this good enough or I am missing something ? They are not fixing till the town's main sewer line which is on the road. Per them...that is town's responsibility. Will this be a problem ?

I am trying to close a deal but sewer line has become a major issue. Sellers are extremely difficult to work with and not to mention this is an Estate sale.

Any advise will be greatly appreciated.

Thanks

Post: Tax write-off in investment property

Sam D.Posted
  • Posts 16
  • Votes 5
Quote from @Bill B.:

Pretty sure you can’t charge anything for your time. MAYBE, if you lived nowhere near the property and it took a reasonable amount of time, say a week, maybe two, you could write off the cost of getting there, supplies and such. But only if it was cheaper than having it done in a normal fully deductible way by a professional. 

I don’t think you’d want to explain why you expensed meals for a month or a rental car for 2 weeks to do $500 worth of repairs. You can already write off the costs of the Elsie and the utilities. But the property isn’t truly “available for rent” if you’d living in it. 

Find a cpa willing to defend you and you can probably write off more than most. But you’d be hoping to “break even” (get 20% of your expenses back) as a best case. You’d probably lose more in missed rent. 


I am just talking about repairs for ex - changing water heather, putting new carpet, etc... I am not going to write off anything else... no write off rent or electricity, etc.. while I am living there...