All Forum Posts by: Gp G.

Thank you. Spoke to a HVAC contractor saying about 7k for HVAC work and 1K for electrician work total 8k but overall may improve tenant experience and maintenance charges to me but bit more price to put upfront

Hi,

My property is built in 1961. HVAC unit is package unit on right side of the unit. Duct works goes from package unit to crawlspace to bottom of the floor to the unit. Duct work is old metal ducts. Air filter also in crawlspace inconvenient for tenants to change.  Package unit not sure how many years old as it was there even before i purchase this property about 5 years ago. Some times package unit is not working and fixed few times by HVAC contractors. Also the metal duct work in crawlspace has leaks which tapped by one HVAC contractor. Air conditioned air leaking to crawlspace making crawlspace heat or cold depending on season causing more power bill to tenants. I am thinking to remove package unit and instead of that put split unit. Put the fan near the package unit area and heater in HVAC attic area. Attic area height is less like hardly 3 feet. Does attic fit the heater there with 3 feet clearance and also duct work. Is it good idea to do this project spending about 10k now. Any pros and cons of this project I need to know before I begin and spend lot of money. Hope no fire hazards or code issues or noise issues or electric shock etc. by doing this project. Please advise

,I have tenant who is troubling for weeks. He created lot of issues saying mold in the property recently. PM gave him 60 days notice to vacate few weeks back. I am waiting for those 60 days to complete as soon as possible
Attached is the letter I received from county today as this tenant keeping junk cars and trash all around the property even after informing him multiple times. I emailed this letter to my PM as well. Please advise what steps I need to take to avoid fines or imprisonment as stated in attached leter.

Attached is the picture of the junk cars and trash he kept all over the property

Hi,

In my old rental property I am not sure when roof replaced last time. How to know when is time to replace the roof.  can the roofing companies can give honest answer.  I do not want to spend 20k to replace roof if current old roof still has more years of age left. Please advise

Hi,

I have 1961 property  causing more maintenance issues. I bought it for 136k from wholesaler about 5 years back. I spent so far about 150k. This includes some major items like below

upgrading septic to elgin septic system 20k

upgrading electric to new cod 20k

tree cutting trimming 10k

trench/French drain 10k

hvac replacement repair 10k

new plumbing 10k

crawlspace repairs 10k

appliances replacement 5k

doors replacement 5k

mold repairs 3k

roof repairs 3k

other repairs 

It is in good location. I am currently getting about 2100 rent. But lot of issues compared to other newer properties. Now i see redfin shows property value as 311k

I am thinking whether to keep the property or sell it.

If I keep it might appreciate much better.

But challenge is expensive to keep it. Almost negative on cash flow with all these repairs coming all the time.

Next major thing I see is hvac in crawlspace and those ducts are loose and coming off. Also crawlspace air also not that good quality if air leaks through those loose ducts. To remove hvac from crawlspace and put in attic it may cost me around 15k. 

I am kind of struck with this property.

When I try to sell this property before covid i got offer around 180k but do not want to sell in loss. 

I hear people having rental properties older than mine like 1900 still cash flowing and happy. I am confused what to do. As i spent so much energy and time and money on this property thinking better to keep property.

Also this property is in downhill area. Rain water used to sit in back yard and crawlspace. I have to build trench/french drain to divert uphill rain water running into my property to further down away from my property. There is small retention pond kind of area next to my property belonging to city which they are not managing ( There are big trees there which are close to my property about 12 feet away which may damage roof if fall towards my property but it never seems happened since 1961 touch wood). Water table is high due to these rain water drainage issues. Septic field lines failed forcing me to build elgin system in the front yard and put a motor to pump sewer water from backyard to front yard.  Tenants bit unhappy also due to these type of issues causing challenges there. PM also not that responsive making issues more bad for me.

Please advise

Hi,

How to sell a property as FSBO(for sale by owner) with as is condition clause. What are good websites, resources for this purpose.

Please advise

Very useful information. Any good  qualified intermediary around Atlanta Georgia area. Please advise

Hi,

Can you please share mold and pest etc. addendums you are using in leases. What other addendums we have to provide in lease and have tenants to sign. Please advise

What are the must-haves to have your insurance policy ? What are the best coverages and limits to have in insurance policies to cover edge case scenarios like these Insurance Policy with water, mold, vandalism, pest etc. Also lot of insurance companies to give new quote asking for proof of new roof replacement otherwise not giving quote which concerns me as my roofs are very old replaced by previous owner or original roofs. Please advise

Thank you for your feedback. 

Can a realtor help with 1031 exchange as I never did it. I may need some hand holding to do first time without any issues