All Forum Posts by: Account Closed

You need to hire an eviction lawyer and evict her for all the reasons you stated. Your lawyer will decide what is relevant and will handle it. Who cares what the board thinks they would evict her too.

No offense but everyone has told you to do this and you don't want to listen, there's no other easy solution JUST.DO.IT.

@Tammy Price

One more thing, if you decide to finish your basement make sure you have NO moisture issues that will lead to mold. 

Interest rates have fallen about by about 20% since last year (4.7% to 3.8% approx). The fed will announce their decision on rates at the end of this month which is expected to be another small cut in interest rates. You may be able to refinance at around 3.6% and be much closer to breaking even. I'd estimate your monthly payment would go down by $150-200 a month but I don't know the exact numbers. 

There will be an upfront cost to this but you will be able to keep this property long term without having to worry about short term price valuations like you are now. 

Keep in mind you will NOT break even if your monthly payment is the same amount as your rent price. You will have repairs, vacancies, property mgmt fees, etc. but you will be building equity relatively trouble free since you should have no problem getting good tenants in a new build. Hopefully it will appreciate too!

Good luck.

@Jim K.

Thanks for the explanation. Those glue-up acoustic tiles are $2-3 a sq ft? About as expensive as hardwood flooring! Any cheaper options you've come across? 

I will be looking into thick rugs for bedrooms vs replacing carpet every time.

You can make it into a kitchen by just putting in burners for cooking but no oven. Typically an oven would be an issue for code enforcement in basements whether it's gas or 220v electric. 

You can separate it with an exterior door if you want to reduce noise coming in but usually you wouldn't be allowed to put a lock on the door from the upper level (locking them downstairs). You could always remove the lock if the home is inspected but it usually isn't allowed though. 

Also make sure each bedroom has a window that meets egress requirements.

@Jim K. Do you refinish the hardwood in bedrooms too? What do you suggest for units where bedrooms are stacked above one another?

Keep carpet for added noise insulation or refinish to reduce carpet costs?

I typically see the same thing where carpet has been added on thick oak flooring and refinish the living/dining but not the bedrooms because of noise concerns but have not tested refinishing the bedrooms.

Hi all

What type of toilets do you typically get and what is your experience with top flush toilets? They were very popular a few years ago and it was getting harder to find side flush toilets. 

I know I was told that top flush toilets are more reliable and less prone to leaks because it gets rid of the flipper handle and the only point that could leak was the flapper.

Now I see side flush toilets are back and top flush is getting harder to find. Don't know why. Top flush usually has a dual flush option for 1.3/1.6 gpf and side flush is 1.3 only but I am not really concerned with the small difference in water usage. 

I can typically get glacier bay top flush for around $50 when purchasing in bulk and they seem to be working fine so I haven't seen the need to purchase pricier toilets that claim to flush better.

Below is pictures for reference.

@Kai Van Leuven

Do you have any issues with the tenant living next to the laundry room complaining about noise of machines or tenants coming/going?

@Benjamin Ford

I believe @Russell Brazil is correct but incorrect. 

There is nothing banning rentals in basements they just technically wont be a separate unit. You'd essentially be sharing your home or renting a bedroom in your basement. You wouldn't be able to put a stove in or a lock between the basement level and first floor. 

The stove rule may have changed but renting in the basement is fine but Russell feel free to chime in if you've heard something different.

@Charlie MacPherson

If it takes you 2 hours to submit an offer you should become a novelist instead.