All Forum Posts by: Account Closed

I just had the knob and tube removed from one of my sF rental houses and replaced with new updated wiring by a Licensed Electrician. It really didn't cost that much money (approximately $2,500), but my walls were already gutted, which made access super easy. It would be prudent to get the knob and tube replaced.

The walls in this particular home are lath and plaster unfortunately! :(

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Originally posted by @Michael Ohara:

At that year built you're gonna run into issues for sure. I'm not an electrician but with today's demand for electricity to run computers, TVs, appliances, I don't if knob and tube can handle the load of a modern lifestyle.

Thanks Michael - that is a big concern of ours. Due to the age of the home, not only is some of the home still on K&T wiring, but many outlets are not grounded or protected. With our budget, we're not sure if this is inline with our other options on the market or better/worse.

We're still trying to get a grasp on just how much of the home still relies on K&T. Regardless, we're making it part of the negotiation that the K&T be upgraded to new wiring and removed from the home.

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Originally posted by @Matthew Paul:

You just bought a house with wiring thats 100 plus years old . Do you drive a 100 year old car ? Update the electric first before you do anything else

Hey Matthew, thanks for the detailed and constructive advice with regards to the electrical system of the home. Incredible insight that we can use in any future property investment. For whatever reason, it didn't occur to us that homes age and depreciate at the same rate cars do. We will be sure to only purchase homes that were built within the last 5 years.

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Hey everyone,

Context: My wife and I are very new to the real estate investing world. We spent about 3 months looking at different properties and finally found a three-unit property in which we want to invest in as owner-occupants. Our offer was recently accepted and we just completed our home inspection yesterday.

The property was built in 1910 and has knob and tube wiring throughout the basement, which is apparently common given its age. Outside of some electrical concerns the house was very structurally sound and the plumbing seemed to be fine, except of some water pressure issues.

Questions:

Should we be concerned with knob and tube wiring? Is it something that makes this investment property a high probability of becoming a money pit?

Many rooms throughout the house had 1-2 outlets that didn’t have power. We DID’NT identify any rooms that didn’t have ANY working outlets but I’m trying to gauge the chances that it’s a $30 outlet replacement vs. a very expensive electrical nightmare. Anyone have any experience in electrical work? Anyone come across a similar situation?

Thanks in advance!

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Has anyone used a 203k loan before? If so, did it work out for you?

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All Forum Posts by: Account Closed

Account Closed has started 6 posts and replied 15 times.

Post: Electrical questions with potential investment property

Post: Electrical questions with potential investment property

Post: Electrical questions with potential investment property

Post: Electrical questions with potential investment property

Post: 203k Loan- have you used it before?