All Forum Posts by: Samantha Klein

We have We Energies here. I use gas heaters whenever possible. It sounds like you should start charging for the water there lol

I hear people say they have to double flush the 0.8 ones but I have them in all my units and my personal unit and very rarely does it not go down the first time. All of my tenants like them. I've had no complaints and they've been installed in some for almost a year.

@Peter B. Ouch that always sucks. They sure paid for themselves though over the years. Where do you typically purchase water heaters at? 

I'm planning on stocking up on appliances and vinyl plank flooring this weekend for property I own and possibly future ones, just storing the stuff until I need it. How does that all work when deducting on taxes? Do you deduct/depreciate it the year bought even though you may not use it for a year or more? Example is the vinyl plank is for 2 units that are occupied right now with tenants, units are all carpet and I am planning ahead for when they eventually move out. 

It's more of a calculation of how much life remains and what it will cost to replace the items. When you have a bigger portfolio, you can spread the risk out because you'll be getting more cashflow but someone with one or two properties, a roof replacement could put you in debt if your not properly prepared. I go by average lifespan and how much life is left, figure out what the replacement will cost and find your number for reserves to be safe. In a property with newer capital items; you'll still want to budget for their eventually replacement unless you plan on selling long before they need to be replaced.

I tried sending gifts last year and not a single tenant thanked or even acknowledged it so I won't waste my time and money now. It's reasonable enough that I properly maintain the properties and fix things when they ask.

As soon as I close on a property, I install a Niagara 0.8 GPF toilet from Home Depot. They use half the water of standard toilets and have no flapper so they don't leak and run up a water bill. I also do not use regular wax rings, I use the Perfect Seal from Danco and have had absolutely no problems with high water bills, they actually are a little less with the water saving toilets. You can only order the Niagara online.

If this property is their primary residence then you cannot do a 1031 exchange. That is only for investment properties. They can however just sell it and get up to 500k of gain tax free.

I prefer duplexes. I have 4 of them. There seems to be less drama from them than a 4 plex and I have been able to get good rents for duplex units. I plan on only purchasing duplexes here on out.

recent rehab we found above a bathroom ceiling in a dead space an old chair, a cast iron stove top piece, and a miniature pool table from the early 1900s possibly worth a grand or so. house was built in 1875