All Forum Posts by: Kelly G.

thanks @Jason Bott  - after mulling this over for some time - I came to that conclusion.  Though - I don't think Zen would need WC insurance as the installer is a sub-contractor.  I sub in my profession frequently, and the colleagues I sub for don't and can't carry WC insurance for me as I'm not their 'employee'; I have to carry my own GL (and health insurance).   

Just had to think this through.  Thanks for your reply

Zen did provide the cert but I called the Insurance CO. to confirm.

Kelly

I am having replacement windows installed in my rental SFH (WI); (didn't know where else to post this). The window 'dealer' (Zen windows) has liability insurance; they use sub-contractors for installation. I asked for proof of insurance from their sub-contractor a few days ago and . . . silence. I'm hesitant to move forward w/ this dealer, w/o adequate liability and worker's comp insurance (if appropriate) from the guy(s) actually doing the work. Or is the 'dealer' liability sufficient? Have not dealt with a 'dealer' and sub-contractor before. No local/state licensing/permits required. thoughts??

thanks

Kelly

Thanks @Alexander Felice and @Bob Rowe

Yeah - I'm 'house rich' and 'cash poor' - so to speak; I just don't want to tap any more of my retirement savings. I plan on selling my RV to cover about 1/2 of the HELOC - but can't really wait for the $$.

Rent checks are made payable to me. Thing is . .  the rental is in WI, my home is in CO, and my CU of 20+ years is in FL! I have no 'local' bank/CU that I have/am doing business with.  Guess it's time to change that.  

Thanks for your comments

Kelly

Greetings;

I need a short-term (1 year?) loan of about $40k - would only pull what I need when I need it (not all at once - but a bank won't know that) - and am thinking a HELOC would be the easiest, but:

I am not 'working' - haven't really worked in a few years - am technically 'self-employed' but . .

The HELOC would be on my primary residence: a mobile home - current value @$130k (conservative), owned free and clear.

I have a rental property that brings in @ $1000/mo; the rental is owned free and clear; current value @$140k

I have no outstanding debt - except my CCs which I pay in full every month;

Current credit (fico) score of @ 730 - (just below that magical 739 due to a 'blip' that has been removed) - otherwise I've Never been below 760!

Strong $$ assets (401k, IRAs) -(how much info do I really want to give away?)

Will this be 'doable' via bank/CU HELOC? Recommendations?

I have called a couple banks and they all want to know my "income" - which is basically the rent I receive and capital gains when I run low.  How do I 'package' this to convince a lender I'm a 'no/low-risk' borrower?

Thanks so much

Kelly

haven't read all of the replies - not sure you're still interested in comments

IMHO - the price the seller set for the house already includes the commission(s) they will be paying.  So actually - it is the price you will be paying as it's wrapped in the sale price.  If the seller suddenly doesn't want to use agents (which many others have replied to) - then you should not be paying your original offer; you should be paying 6% less - or whatever the commissions would have been.  

I never understood why buyers always think the seller pays the commission;  I have always considered that I - the buyer - am always actually paying the commission. 

just my 2 cents

Kelly

Hi @Account Closed - I thought the energy efficiency rebates expired last year - but thanks for the reminder - and thanks for the vote!

Kelly

Hi @Steve Vaughan - glad you found this info useful.  I only got quotes for Zen and Okna windows.  The Zen quote was less than the Okna - but I also had an Angie's List discount that Zen was offering (locally).  In truth - I have only started to really compare the two quotes: window quality, Energy star ratings, installation process etc.  so it's hard to say "less or more" right now.  

fyi: Okna would consider a 7-plex a 'commercial' property;  Vinyl Kraft (if offered in WA) does offer a 20 year commercial - 

I found the following website a great resource:  

Window Company Reviews | Replacement Windows Reviews

Good luck

Kelly

Greetings 

I have been researching replacement windows for my SFH in Milwaukee, WI and have been amazed at what I've learned - so I thought I'd pass this along.

Be very cautious about - and Read - the warranty Before you choose a window company/contractor!!!  

I looked into 5 different window manufactures:  Zen Windows; Soft-Lite; Vinyl Kraft; Okna; and Ply Gem.  I wanted a Lifetime Warranty will full (or reasonably full) transferrability - for 'investment' purposes;  if I'm going to spend $5k >< on windows - and since I don't know how long I will own this rental - I want to spend my $$ well!

Only 2 of the 5 companies I considered offered a Lifetime Warranty for a SFH "rental": Zen Windows and Okna Windows (though I had to call Okna and get clarification in writing). Most other companies limited their warranty to 10 years. NOT good enough for me as I've already had seal failures on windows I had installed 10 years 6 months ago! (fortunately I did get a full Lifetime warranty w/ that company - though at the time I had not thought about the 'rental' aspect as Mom was living there).

Soft-Lite, and Ply Gem require the original purchaser to "reside" in the property - obviously that doesn't work. Soft-Lite said a SFH "rental" would be covered under their "commercial" warranty which they sent me for review. But right there at the top, in bold print their "commercial" warranty states:  "Commercial/Non-Residential" - Despite several emails - they could not resolve this apparent discrepancy.  

Another consideration is failure of the seal between window panes.  You might want to ensure that the warranty address the formation of "condensation" between the panes.  Some warranties (Vinyl Kraft) address "dust or film" between the panes, but I'm not sure a lawyer (if ever needed) would consider "condensation" or water - the same as a "film";  I wouldn't.  Other companies clearly state that the "condensation" between the panes is an indication of the seal failure and IS covered under their warranty.  

Just thought I would pass this along 

Happy Landlording

Kelly

Thanks for all the really great points!!  stuff I had not thought of . . 

Kelly

Greetings

My tenant wants to put up a swingset and small 'kiddie' pool for the grandkids in the back yard.  I have no problem with this.  I am wondering if you modify the rental agreement with legal precautions/safety/liability (?).  Or just give written approval  - per existing rental agreement.  

Thanks in advance

Kelly 

sfh/ Milwaukee