All Forum Posts by: Ed L.

Been a while since I posted... I ran into the same dilemma with being self employed and needing insurance..

My wife and I were using golden rule which cost about $100 per month for the both of us up until ACA was passed and she was allowed back onto her parents excellent government job healthcare plan. That gravy train lasted for about a year until she turned 26.

During that time we let my insurance lapse by accident. I was waiting for the insurance exchanges to open based on the promise of better coverage and rates.. Unfortunately it was all a big fat lie.. I was actually able to sign on to healthcare.gov and get a quote fairly easy.

Just for me alone the cheapest plan available was $270 per month, with a high deductible, high co-pay, no frills junk for $270 per month... Even the promised maternity coverage was crap and only paid a small amount towards the delivery.

My previous insurer was offering similar coverage for $70 per month but they said it would no longer be available after 2013...

Luckily a family member mentioned a company called medi share. It's a religious based cost sharing program and the members are exempt from ACA penalties.. Coverage for both of us was $150 per month with a lower deductible than the healthcare.gov plans...

Looks like rates spiked and have started to settled downward again! Just hope they hold for 4 more months so I can finish seasoning on a couple properties.

I think it was previously mentioned but if you equate financial obligations with slavery then stay away from REal estate. We are all just renting from Uncle sam. If you think otherwise just quit paying property taxes and see what happens.

I think the concept of being forcibly robbed for eternity due to owning something is morally and ethically reprehensible, but apparently some do gooders just can't help but be suckered into the notion that children will not be educated unless uncle sam has the ability to steal private property....

Enough with the rant. Long term fixed rate financing at todays rates is extremely hard to refuse especially when tax benefits are taken into consideration.

I've had people approach our brokerage just looking for a place to hang their license and not contribute anything to the company.

Unfortunately there is a great deal of liability, and aggravation involved with hiring on new agents.

If you plan on actually practicing as a full time RE agent then be sure to explain that to the broker so they will know your intentions.

I keep reading all this gibberish about the fed tapering bond purchases, treasury this, stocks that, blah blah blah...

I could care less about stocks, bonds, treasuries, etc... My concern is what effect all this will have on interest rates in 4-6 months after my latest 2 sfr properties meet their seasoning requirements??

I know this is all just pure guesswork, but I'm curious where my fellow BP'ers feel the rates will be in the near future.

Will they continue the sharp rise, plateau, bounce back down, etc.

Just a update in case someone else happens to face the same dilemma.

After asking around I decided against the straight electric strip heating. Cost to operate would be about 4x the cost of a heat pump from what I understand.

I went with a 2.5 ton heat pump system. Total came to $2,800 for the complete system including the new wiring due to the previous unit being gas.

Installers were in and out in a day and seem to have done a good job.

Just to reiterate, I too would have gone with natural gas vs electric if any of the constant use systems were still gas. My decision was heavily influenced by the thought of tenants not bothering with hooking up the gas meter and overloading the electrical system with space heaters during the winter.

Thanks for all the suggestions!

Last thing I would do with asbestos is scrape it and disturb the particles.

Why not just hang new sheetrock over the old stuff. That will encapsulate the old asbestos and eliminate any danger.

We just did a whole house and it was about 2K in total. Hang, finish, and paint.

Looks like brand new.

There are definitely some bubble markets where the price of real estate has no ties to the cost of building.

Basically people are paying ridiculous prices for the lot and the house just happens to be on it.

Anytime I see a headline stating how a particular RE market is having 10%+ price appreciation it makes me cringe a little.

Next question is how much should I be paying for a 2.5 ton heat pump system installed.

I've gotten a couple quotes ranging from $2,800-$3,800

Great suggestion, but unfourtnately the old gas furnace is nearing the end of it's life cycle. I think it is around 20yrs old. Quote for going that route was about $1,800 vs $2,800.00