All Forum Posts by: Napat Wan

i am just going to answer myself lol. I finally found a contractor that would do it for 10k! And he did an excellent job!

Hello, my fellow Biggerpocketers,

I have been looking for an HVAC contractor (Hillsboro, OR) to replace my furnace and ac unit. I have contacted multiple HVAC companies for quotes, and their quotes are in the range of 16k-21k. I am not sure if it is because of the inflation but I was not expecting this price. I thought it would be somewhere in the low 10k. Do you agree if this is a typical price to replace a furnace and an ac for a 3B/2B 1400 sq ft home (Gas Furnace, Up to 96% efficient, Up to 60000 BTUh and Air Conditioner, 2 Tons, Up to 18.00 SEER, 71 dB max)? 

I am also thinking about hiring a subcontractor to replace my furnace and ac. I will provide him with the parts and pay for his labor. I have not found a contractor that would do this yet. I assume it is because the HVAC system is more complicated and needs a separate license so it is not common for a subcontractor to have one. I would really appreciate it if you can share with me your subcontractor that can help me with this.

Thank you in advance!

Hello @Joshua Aden

I am looking for an HVAC contractor at the moment (I am in Hillsboro, OR). I would really appreciate it if you can share this with me.

@Taylor L. @Robert E Thompson @Kevin Romines Thank you for your responses. Look like I should start looking into a commercial real estate, but for now I am going to try to control my DTI and buy more multifamily until I become more comfortable with real estate investing. My other question is what are a typical interest rate of a non-conventional loan (in the current market)? I have only seen 9%-15% from a HML or a private equity. Is there a buy-and-hold friendly lender?

Hello my fellow biggerpocket members,

I live in a rather expensive area, Portland, OR in particular, where 1% rule or even a positive cash flow are not possible. I wonder what strategies people in these areas use? Especially, if they want to scale. I really cannot think of anything mainly because of the DTI ratio as one purchase more and more properties. Let's say I bought one multifamily, and it almost maxed out my DTI ratio. I can probably buy another one, but that is it. I cannot buy anymore because I have reached my DTI limit. Even if I rent them out but since my cash flow only break even, that means when I apply for another loan my DTI would be higher because I can only do 75 cents to dollar on the rental income.

Do people in these expensive areas have to invest only out of state or in state but rural areas?

Thank you for your answers!

Hello everyone,

I need some help choosing a roofer. Let me give you a short summary of my situation first. I just bought my first house. It is a single family home in a decent neighborhood. I am planning to stay here for at least the next 5-10 years. After that I will convert it into a rental property. Right now, my whole roof needs to be replaced due to age and small leakage. I have already received 7 quotes ranging from $13k - $22k. The 2 best candidates are a general contractor and an Owens Corning Platinum Roofing Contractor. 

The general contractor proposed $13k for the whole roof replacement with IKO material (can upgrade to Timberline HDZ for $500 extra)  and 10 yr transferrable workmanship warranty. He is a licensed contractor with good reviews and referrals.

The Owens Corning Platinum Roofing Contractor proposed $17.5k for the whole roof replacement with Owens Corning Duration material, 10 yr transferrable workmanship warranty, and transferrable Platinum protection limited warranty ( Lifetime of workmanship warranty with coverage reduced after 25 years based on the age of the roof).

From an investor standpoint, what would add more value to the property? Spending extra for an extended warranty and advertise them when selling the property (would it actually increase the price of the property?) or saving $4.5k?

From a homeowner standpoint, Is the extended warranty worth the paper it is printed on? Can you actually use it?

Please let me know and thank you in advance

@Brad Hammond Thank you! I will contact them for a quote.

Hello everyone!

I am looking to hire a general contractor to reinstall my roof but having a hard time finding one. My property is in Hillsboro, OR 1 story and the roof is 3k-3.4k square feet. I want to add a few vents and also fix the ventilation system in my attic. I have already received a few bids but they are well over my budget. I would appreciate if you can give me some contractors referral that are bang for the buck in my area.

Thank you in advance!

Thank you everyone for answering my questions. After giving it a lot of thought, I re-evaluated my investment strategy, and I am going to go with a house hacking strategy instead. Even though the area where I live is expensive but a 700k Triplex with 3.5% down in my city will still give me a positive cashflow. As for my future investment, I am going to try both BRRR strategy and a buy and hold light rehab strategy. After all, I want to know which strategy will fit me best.

I have decided to invest in out of state properties but not sure where to invest. I am thinking about Cleveland, OH and Dearborn, MI since the real estate there are quite affordable and good cashflow for a turn key properties (according to the listing). I don't know if I am missing any detail but the cashflow sounds almost too good to be true (ex 8 beds 4 baths fully occupied $1500/month for a price of $70k). I would like to hear from a local or someone who has properties there if this is true or am I missing something? I am also open to invest in other states please let me know if you have any detail. Feel free to connect with me if you think we can work together. I am looking to purchase a turn key property for less than 200k that also meet the 1% rule criteria for my first property. Thank you for taking your time to answer my question.