All Forum Posts by: Stephen S.

stephen
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Originally posted by @Account Closed:

update since feb (in 2mos) i sold most everything i own aside from RE, saved up $80k, which i just pretty much blew as my offer on bankowned building for my non-profit humanitarian project was accepted earlier on today and am getting the wire into escrow started tomorrow. so now i'll be down to virtually $0 cash hopeful may 1 will bring with it the big money rent rolls until then i'll practically be starvin aside from pb & wheat bread slices & 1 heineken left in da otherwise emtpy fridge & empty house.

now i will have 2 properties that are paid off (and 2 properties i manage for a family member overseas from whom i get a generous % rent split) but no $ to invest anywhere else, and bad credit. 

is there any way to borrow against my bigger property  to buy a 3rd property or will lenders nevertheless have a problem with my bad credit (negotiated cc debt after letting em go to collections)? 

otherwise this time now that i sold everything i own aside from re i will just have to wait till i save up 100k as originally planned and that could take a coupe years at least.

Someone earlier mentioned 15 years as when a boiler might need to be replaced.  This is nonsense.

What is a "bonnet" ?  I have been working on boilers for 40 years and I have never heard of a boiler or heating system part with that name.  Maybe it is a regional expression?

stephen
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Originally posted by @Jeremy Pace:

Diagnosis: bonnet are some other components are badly corroded and need replaced.

                  http://tinyurl.com/lrdnqwx

Boilers, especially cast iron boilers last A Long Time.  Most especially if they are gas fired.  You boiler guy sounds like a "you need a new one" installer - rather than a service man. <g>  I would want to spend $100. and have an precise list of the existing boiler's problems.  And cast iron radiators last even longer than boilers.  I have a customer with radiators which were installed in 1870.  

BTW:  A first floor radiator doesn't have to be an exact size match as you can just drill a new hole for the supply or return pipe and patch the previous hole closed.  On a second floor I would look for the same length or slightly shorter (left to right) so you can just add a nipple to make up the width.

99% of radiators you will encounter will be oversized for the room's heating requirements  - so going a little smaller is fine.

stephen
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 Originally posted by @Jeff K.:

Hi BP friends. I had a heating question and was hoping to get collective wisdom on the following:

I just bought a 2 unit house with 2 bedrooms each floor. Total house is about 1450 sq ft.

Boiler to first floor (according to sticker) was installed in 1964 and not currently working. My HVAC guy said it would take some money to service to just test it and see if it works- so I figured we may as well just get a new one at this point and have a fresh start. All radiators on first floor look ok. He said cost for boiler and labor, as well as the updating of some parts related to boiler would be $3700. ( second estimate was similar)

Second floor boiler (hot water not steam baseboard) is newer and looks good, however there is a cracked radiator in Living room that needs to be replaced. He told me a new one would be $2200. We searched for used/ reconditioned but they are also expensive, hard to come by for exact sizes and matches, and need time and money to test before installing.

(I budgeted for this in my purchase price)

So I see 2 options:

1-replacing boiler and radiator:$5900

2-I thought of taking this opportunity to switch out the boiler only on first floor for a forced air unit, run the ductwork under first floor in basement, and use the first floor radiator upstairs. ( maybe I could sell the remaining ones on CL to recoup some money) I am waiting for an exact estimate but his first thought was in the area of $7000-$7500. Although it is more initially to do this, down the road I would not have to worry about the expensive radiators going bad. (I don't think I would ever add AC to this down the line even though this gives me the option.)

Has anyone ever switched boiler to forced air just for heat like this? Do the numbers quoted above make sense? Any other ideas or options? 

Any advice would be very appreciated!

Also;  I would want the year's pre-paid rent in the form of 12 rent checks - each one dated for the due date for each sequential month.  

BTW:  The only legal way to do this is to have the maker of the check write the words:  "Void Until" above the date they write on the check.

stephen
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 Originally posted by @Niles Crum:

I just rented a home to a tenant who did not quite meet my income requirements.  I expressed my concern to her and she said she had $20,000 in savings and could get me a letter from the state where she gets just under $3,000 per month in a pension.

I suggested to her that if she paid her rent a full year in advance I would lower the monthly rental fro $1,100 to $1,000 per month.  She attempted to get me to go down to $950 and take care of the lawn but I stood with my original offer.  

Do you think that is a good idea to give up that kind of income to get paid one year in advance?  No criminal record and a credit score of just under $700.  No prior landlord for a reference but came referred by a friend of mine.

Can you share those shower head make and model numbers with me?  Because every one that I've ever tried have been Noticed Immediately. <g>

stephen
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 Originally posted by @Roy N.:

Before switching the hot water heater, test the current one to confirm that both elements are working ... sounds like your tank recovery is lacking.

That said, I would definitely recommend moving to a 1.5usg shower head.   We use a couple of models that folks never realise are low-flow until we tell them about it.

stephen
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Originally posted by @Diante Lawrence:

How much does it cost to remove black mold from a home?