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All Forum Posts by: Ralph Pombo

Ralph Pombo has started 8 posts and replied 80 times.

Post: New to 1031 Exchange

Ralph PomboPosted
  • Posts 90
  • Votes 28

@Bill Exeter - Thank you. That is very helpful.

Post: Setting Issues in Profile

Ralph PomboPosted
  • Posts 90
  • Votes 28

I have also tried to contact support for almost a week with not response at all.

Originally posted by @Dennis Wayne:
Originally posted by @Ralph Pombo:
Originally posted by @Dennis Wayne:

This is a easy solution actually .. find a new tenant . His health issues are not your problem and you didn’t cause them . Do not be losing a bunch money buying fancy 1000$ toilets or having plumbers come out every month . You will have a much better profit and landlording experience if you “Don’t make the tenants problems your problem “

That is really dependent on the area, the tenant, and several other factors. This might be a fantastic tenant other than this issue. Do you really want to take the chance? I think that others probably have it correct when they are mentioning pipe and toilet issues. That is far more likely than a human being able to do this on a regular basis.

Well Fantastic tenants don’t cost you money every month or suggest you buy a 1000$ toilet  . There’s thousands of tenants so why yoke up with a guy like this long term who is hurting your business and costing you money ? His health problems shouldn’t be your financial problems ! He isn’t a great tenant unless it’s a 501c or unicef .. 

I have had bad tenants before and there is a huge difference between bad ones and good ones. In today's environment, you might be lucky just to have one that pays on time depending on the property and location. I will bend over backwards to help someone that is a good tenant. In CA, $1000 is next to nothing, so it depends on the area, as I mentioned. A hot water heater here is $1500-$2500 to replace, leaks, plugs, etc. are measured in the thousands. Of course, rent is $1400 a month for a one bed, one bath.

Originally posted by @Dennis Wayne:

This is a easy solution actually .. find a new tenant . His health issues are not your problem and you didn’t cause them . Do not be losing a bunch money buying fancy 1000$ toilets or having plumbers come out every month . You will have a much better profit and landlording experience if you “Don’t make the tenants problems your problem “

That is really dependent on the area, the tenant, and several other factors. This might be a fantastic tenant other than this issue. Do you really want to take the chance? I think that others probably have it correct when they are mentioning pipe and toilet issues. That is far more likely than a human being able to do this on a regular basis.

This is a thought. I am just thinking out of the box on this one, but if you really want to accommodate this renter then have you considered a composting toilet? They cost about $1000 - $1200 but they don't even need plumbing. Some of them actually don't even really compost, they just bag up the waste. In this specific case, once a week the renter could just put the sealed bags in the trash and solve the entire plumbing problem completely. I have worked on a few tiny houses and these are used successfully all of the time. Just a thought...

These are all good ideas. I tend to agree with the suggestion to make certain that all pipes and the toilet are running as freely as possible. A thorough inspection, video of the pipes, and a new toilet might be all that it takes. 
That said, we have a similar issue with an AirBnB condo that we own. We get people flushing anything and everything. I am not sure how they were raised, but it is really annoying when the kitchen, the toilet, and the tub are all plugged after a person leaves. Good luck!

Post: New to 1031 Exchange

Ralph PomboPosted
  • Posts 90
  • Votes 28

I hope that it is okay to hijack this thread for a few follow up questions. If not, then I can take the discussion to a new thread. I have done 1031 exchange about 6 years ago, but never really understood the process completely. Actually, I have questions as to whether or not the real estate attorney did either. Here are a couple of concerns that I have. 
1) How is the exchange value calculated? I am in the process of selling one home, but I am not sure what the replacement value needs to be. Is it the entire amount that the home sells for even if you are paying off loans?
2) Do replacement purchases need to be financed or can they be a cash sale?
3) If I do not replace for the full replacement value, does that ruin the entire exchange or can you exchange only part of the total amount? For an example, the replacement value is $500k but you only bought a property worth $400k.

Did you have any luck with this request? I may be needing property management also in the near future.

Thank you,

Post: Investors in Tyler?

Ralph PomboPosted
  • Posts 90
  • Votes 28

I am just moving investments into Tyler and the surrounding area. It would be a great help to talk to others that are also working in that region.

Thank you,