All Forum Posts by: Jason Sung

Hi, my rental home got leak from shower and damaged shower floor. 

shower is fixed without of pocket. 

I have landlord insurance with deductible $2500. the house has continuous flooring, meaning the entire house has same LVP. 

The claims adjuster says they can only cover floor replacemnt in the master bathroom as there is a door between the bath and the room. 

Is this common? Would appreciate any comment from people with experience. thanks. 

 HI @Daren H., very basic question. 

When you say price per pier, what do you mean the pier here? Do you mean the piece of material (either steel or concrete) used for repair, or one spot of a house that needs to be lifted?

I got an engieering report showing I have 7 spots to needs to be lifted. The repair quote from a company is $7000 (steel pier). In this scenario, I wonder what is price per pier? 

 @Dave Foster, thanks for your reply. 

I bought a house in this Feb from a wholesaler. My plan was to buy, improve a bit (house was not in bad shape, just need some TLC), and rent out and hold at least 2~3 years. 

The house is at a nice area with HOA, which requires at least 6 month rent.

I found a tenant who signed one year lease contract. Sadly, she broke the contract in early Oct. This is not the best time to find a new tenant. In the worst case, I may need to keep the property empty (while paying more than $4000 mortgage each month) until next Spring. 

If I keep having trouble finding a new tenant, i may just sell the house. Based on your 1031 experience/knowledge, do you think this scenario can justify selling it as 1031?

Hi all, 

For a rental home, tenant says bathroom floor keep getting wet, even though it is small amount. at first, they thought they dropped some water. after wiping water, however, it keep coming back and now they think there is some water leak. 

my plumber went to check and found no issue with bath sink. he thinks it must be shower leak. 

the shower was redone last year by a contractor, who i ended up firing since he did not show up to work later. 

anyway, i hired water damage restoration (Servpro) company to check how much damage there is now. 

unfortunately, based on my research, it is very hard to find source of shower leak. i am thinking of rebuilding shower. i hired a kitchen remodel contractor and he gave me two options; either fix shower pan only, or (optionally) rebuild shower as well. 

I am debating whether i should just fix the shower pan. or, rebuild shower as well just in case water leak is coming from shower walls. 

what do you think? I think that my previous contractor most likely did a bad job. maybe i should rebuild the entire shower. but, seems crazy to rebuild shower after remodeling less than one year ago. 

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Just do shower pan repair. $1,520.00

•Demo about 12” of walls and rip out entire shower pan and step 

•Install cement board on exposed wall 

•Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls 

•Install new drain adapter in shower floor 

•Install new tiles provided by client

Optional (just in case fixing shower pan does not fix the water leak) rebuild shower. costs extra $5100

•Demo shower 

• New plumbing for a new fixture 

•Install cement board on exposed wall 

•Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls 

•Install new drain adapter in shower floor 

•Install new tiles provided by client 

•Client provides plumbing fixture

Hi all, 

I have a rental property that I bought in Feb 2024. After rehab, I have been renting it since May 2024. Hence, no tax filing was done for rental income from this property yet. When would be the earliest time I can sell it as 1031?

@Gerry Rae, the link is not working.

 Hi @Jingru Sui, i wonder if you did title transfer to your LLC? How did it go?

I am using Stessa to keep track of 5 rental units. I am happy with that. 

Hi, 
I have a rental house in McKinney free and clear (without mortgage). I would like to have HELOC. Do you know any lender who can do that?

Hi, 

I have a W2 job (my wife stays home and I have two kids) and owns a few SFH as rental. I did tax return last year (including buying two SFH houses, selling one house) through a CPA and he charged me ~$1000. Is this amount normal?

It seems TurboTax® Premier is for RE investors to file tax by themselves. Is this a good option, instead of relying on a CPA?