All Forum Posts by: Tommy Sessions

I would be interested in the same property if you decide to sell and would keep the tenants in place.

The whole valve would most likely have to be changed out behind your drywall. If you are going to tile over it then you can patch it back. Not sure if that is drywall with red guard over the top, If that is the case, I would not recommend putting tile directly over that. I would still put a hardi board or cement board on it. In that case just cut the shower valve area out replace with the one you desire and cover with cement board. 

I have been interested in the market out that way and further towards Payette area. How has the tenant availability been. I just worry about there not being enough people in the market for a rental in the smaller rural areas. Would love more info on the property if not already gone. 

That is a moon cartridge in the wall. It is the posi temp line. 

Originally posted by @Lana Lee:

Originally posted by @Tommy Sessions:

we just increased our heloc to 87k and the interest rate is 6.5

Is that HELOC on primary or rental?

Yes. I could be wrong, but bank would not give us heloc on our triplex. 

we just increased our heloc to 87k and the interest rate is 6.5

I have one rental that is primarily the tenants I have in there. Now that being said, things are treated a bit different than normal single family tenants. First we charge about $100 more per room than single family in the area. We figure the rent price per room. We rent each room at $375 and that includes everything from power to internet. This is not conventional, but usually they are only in the unit for 10 months out of the year. rotation of primary on power and other utilities just seemed to be easier keeping it and adding it into the monthly rents. We also are very picky on who is in the unit. I know the sports coaches at the local college and we have only had female athletes in the house. There has been no shortage of tenants by any mean. We have them sign a year lease. They each pay part of the deposit. If one is late on payment the fee is the percentage of the entire unit rent (haven’t had a single late payment yet). There are rules about people staying more than certain amount of days and they can’t sublet, no questions asked. The contract also states that they are liable for the entire rent if one tenant moves out. They are aloud and encouraged to find a new tenant, but we screen and have the right to say no to that applicant. We have had great success with the athletes because most are either on scholarship or their parents pay the bills. Feel free to message me with further questions.

Nevermind I was going to, but there is no contact info. I have some properties that I have gotten into for much less by house hacking. I would love to share this with you and give you my insight. Message me. I may also have a property for you to look at.

I’m in your area I messaged you.

I have been told that some will lend if the power is unhooked, plumbing unhooking and treated as “storage” don’t know if this is a plausible solution.