All Forum Posts by: Nicholas W.

So I can't recommend a contractor in your area but I up until recently I provided snow removal services in mine. There are basically two ways contractors charge. The first way is simple, each time they plow the lot the cost is $XX, sometimes there is an extra charge if there is a larger amount of snow when they plow it. The second way is they charge $XXX per month whether it snows or not but the cost is never more than that specific $XXX per month charge even if they come out 15 times. There are obvious pros and cons to both ways, personally I prefer the per plow type but for budgeting going with a monthly charge might be better. Google a few contractors, ask how they do their contracts and get some prices. Make sure though that they are licensed and insured to do snow plowing and not just a "chuck in the truck" because there are a lot of those offering plowing services.

My vote goes to reasonable purchase. It's a simple equation of cost of ownership. The Accent you can buy it, keep for 5 years, spend nothing on repairs and sell for maybe $5k only costing you a little more than a grand per year. There is a reasonable expectation of spending probably half of that in annual repairs on your older car. Beyond the financial cost of dealing with repairs there is the annoyance and opportunity costs associated with a break down.

One thing I would consider is financing the new car though. The interest rate should be very low if not zero. Keep the cash for investments that should yield much more than zero percent.

If no one recorded the existing state prior to the tenant taking occupancy I don't see how a judge could rule in the landlords favor. I'd keep the $250 and chock it up to a lesson learned.

I assume your offer has an expiration date in it, in which case you just have to wait it out. Although you could of course put in another offer at a higher price if you are so inclined.

One question I have is does the $214 average market rent include water or not? If it doesn't then there is room to bill back water and increase market rent leaving decent upside. My math showed it is a 9 cap based on actuals and will be a 13.5 cap after it is re-positioned (market rents, sub metering water). If those are numbers you're happy with then I don't see why it isn't a good deal.

My opinion on this may differ from the rest a little bit but it is all dependent on how you figured out the $215 monthly profit. If that number factors in maintenance, vacancy, capex reserves in addition to both principal/interest payments and the taxes and insurance I would definitely do the deal. $2580 of annual returns on a $0 investment is a hell of a return. 

On the other, probably more likely, hand if you're making $215 after only paying your 2 mortgages, taxes, insurance then I would pass on the deal because once you add in all of your real world expenses you will make little to nothing.

@Eric Rodriguez how do you know it was full? Unless it was just pumped days ago a septic tank will be full. They are always full because the outlet to the field is up towards the top of the tank. The way it works is the solids go to the bottom, the effluent(dirty water) settles in the middle and there is a scum layer on the top. The effluent flows through the outlet that is towards the top of the tank and into the field. The only way to really determine if it is "full" and in need of pumping is to insert a stick to the bottom and then you can see on the stick where the layer of solids begins. If no one has done that there is no way to know if it is "full". The rain water is irrelevant here, septic lids rarely have seals on them because any water that gets into the tank just leaches out into the field just the same as when you're taking a shower. Pull up a few youtube videos on how septic systems work and you'll understand this better.

As for the gray water goes: as part releasing your inspection contingency require the owner to have the gray water diverted to the septic system per current code prior to closing. It is a relatively easy job a competent handyman could have it done with $15 in pvc pipe/fittings and an hours worth of time. Although it will most likely need to be done by a certified plumber to appease FHA. Talk to your agent and they should be able to write up a simple addendum for this.

 When I first read this I thought you were being sarcastic but after reading further I see that you meant drywell instead of drywall lol. But I do agree with everything you've said.

I wouldn't make an assumption about the gray water discharging separately. I know people who have brand new houses and discharge gray water separately albeit not within the confines of the law. The fact of the matter is that it is soapy water and it'd be hard to argue that it is any more harmful to the environment that washing your car on your lawn. I am assuming that the toilet in the basement is still routed to the septic system since you obviously wouldn't want to discharge solids onto your lawn.

It sounds like the system hasn't been maintained and more specifically pumped recently but that doesn't mean that it is undersized. Regardless of how large the tank or field is, if it isn't ever pumped it will fill up. I assume this is a traditional septic with a leach field and not just a holding tank. Also unless the system is backing up or otherwise failing discharging the gray water to the tank will not fill it up any faster as the gray water will leach out into the field (in the case of traditional septic) or be pumped to the mound (if it is a mound system). The same goes for rain water seeping in. Only solids remain in the tank so any additional water just minutely increases the wear and tear on the leach field (in the case of tradition septic) as well as the frequency of the pump running (in the case of a mound) and that is why some people (illegally) choose to discharge gray water onto the lawn instead of running it through the septic.

From what I hear the only thing that needs to be done is to reroute the basement gray water to the septic tank and have the tank pumped and you should be fine. The lack of diligent maintenance could be of some concern but if the septic isn't backing up or otherwise showing signs of failure I wouldn't personally be all that concerned about it.

Who determined the septic was not adequately sized? If it is the inspector how did he go about determining that? Septic systems are sized based on the number of bedrooms in a home and typically highly regulated, obviously if this house is 100 years old that doesn't really apply. Did he get into the tank to measure it or is he assuming it is too small just because the basement gray water is discharged to daylight? A lot of people choose to divert gray water away from the septic to reduce wear and tear on the septic system. Although this isn't necessary legal I see little issue with a little bit of soapy water discharging on the lawn. But it obviously won't pass FHA guidelines. Unless an unbiased septic system expert said that it is undersized you should be able to divert the gray water discharge into the septic system and pass muster.