All Forum Posts by: Stephen Sloane

I have considered Roof Maxx for the front of the roof; though the back side definately needs replacing.

The house is roughly 2600 square feet. I;ve received a quote of $31,000 for the whole roof. The guy used a satellite to make the bid; he didn't even get up on he roof to see its condition.

Hey folks,

I have an old Craftsman house in Riverside, CA that needs the roof shingles replacing - at least the back half of the roof; the front half still looks pretty good to me. I've had some ridiculous quotes, most of the other guys don't even show up or respond to messages. If anyone knows a roofer that doesn't charge an arm and a leg and will respond to texts/calls, I'd appreciate your passing their number on to me.

Best wishes,

Steve.

Thank you Bob, much appreciated.

Thanks Bob, but I meant the stimulus money ($1200 per person, $500 per child) that the government is supposed to be giving out probably sometime in May.

Sorry Ann, I used VRBO once and once only: After a rental in London that put my family's health at risk, and VRBO doing absolutely nothing about it, I would not consider using them as a source to find renters. The way they set up their business, they protect themselves and no one else. In short, they are crooks - with big pockets that can afford lots of advertising, but crooks nonetheless. Please practice due dilligence before continuing on with this despicable business. 

Hey folks, like many out here, I've relied for a few years now on "passive" income (as the government would call it) from my rentals here in Southern California. It's quite common knowledge that if you make under 75K gross a year, you should qualify (or 150K for married couples), but does anyone know if one qualifies with passive income only on their 2018/2019 taxes (still making less than 75K)? I can't find anyone who know the answer to this.

Stay healthy, and prayers for Boris!!!!

- Steve Sloane.
 

Hey folks, I have a five-unit rental in Riverside, CA. Getting a HELOC on that rental has proven very difficult. I'm not familiar with All-In-One loans, but they could be the ticket for borrowing against rental units. If anyone has such a loan, please let me know if you think they are a good idea, or not. Are there any pitfals to such a loan?

Thanks Jason, yes I believe we should all check out water heaters for leaks, etc. every six months or so; they can be culprits. In my particular case the issue ended up being the toilet flaps in three of my units. About seven buck for each new flap took care of it, and now my monthly water bill for the five units is between $50 and $60. Alsa, one of my tenants is elderly with poor hearing, and didn't hear the almost-continuous flow of the water through the flap.   

Hey folks, 

I purchased a four-unit rental property in Southern California, back in 2012. At the back of the unit is a studio apartment, that a previous owner must have converted (probably at the weekend) from two one-car garages. It's a very nice unit, which brings in $775 per month. It doesn't have its own gas or electrical meters. I somewhat gullibly said at the time I would call the city, have them look at it and see what they think... Everybody and their brother said, "No!!! Don't even think about it, just rent it out and pay the utilities." So, I did. Roll on seven years: Now, a realtor who's doing a valuation on the property tells me if that studio were legal, the property would be worth at least 70K more that way, and maybe a good deal more than that. My question: If I consider getting this studio legalized, am I opening up a Pandora's box? My thoughts are that I am, but the hastle may be worth it for the increase in equity. Has anyone out there been crazy enough to do this themselves with their "extra" unit?