All Forum Posts by: Bryce Y.

Bill Gulley Wow that is a lot to digest. Thanks for that. The thing is I'm trying to weigh the cost of painting vs how much life I get out of it. If it's only going to give me say 10 more years and it costs $2k, it might not be worth it when a new roof will cost say $5k (could be way off) and give me 25 years. Now if the rubber paint will give me 20+ years then I'm all for it.

Unfortunately these metal roofs hold up pretty well to hail, so my chances of filing a claim don't seem too good lol.

Edit: I'm assuming I don't need a permit to paint, right?

Larry Oconnor Thanks! That seems to be exactly what I am looking for. Do you know if the warranty covers the paint, or the roof itself? Would it really make the roof last another 50 years?

Rob K Pics have now loaded (thank you Steve!)

Bill Gulley I agree that the low pitch is odd. Not sure why it was done that way. Luckily it does not snow heavily in DFW. If/when I re-roof, would it be better to remove the metal and put composition shingles? How difficult would this be?

Not sure why pics aren't showing up.

[URL=http://imgur.com/jrFNMZd][IMG]http://i.imgur.com/jrFNMZd.jpg?1[/IMG][/URL]
[URL=http://imgur.com/7M77Gv6][IMG]http://i.imgur.com/7M77Gv6.jpg?1[/IMG][/URL]
[URL=http://imgur.com/8NCcOIw][IMG]http://i.imgur.com/8NCcOIw.jpg?1[/IMG][/URL]
[URL=http://imgur.com/h4XTzFz][IMG]http://i.imgur.com/h4XTzFz.jpg?1[/IMG][/URL]

Ugh. I give up. Can someone tell me the correct way to post an image?

Hello guys,

I have a 4-plex with a metal roof. It was built in 1982 and the roof is original. It is currently functioning fine. A roofer I brought in during the inspection period said I had maybe 5 years left. He said if I painted it it could extend the life, but not sure how many years. Anyone ever dealt with something like this before? What kind of paint would be best?

Here are some pics I took. Note: the white stuff isn't snow; it's paint around where the screw are screwed in.

Thanks.

[IMG]http://i.imgur.com/jrFNMZd.jpg?1[/IMG]
[IMG]http://i.imgur.com/7M77Gv6.jpg?1[/IMG]
[IMG]http://i.imgur.com/8NCcOIw.jpg?1[/IMG]
[IMG]http://i.imgur.com/h4XTzFz.jpg?1[/IMG]

John Chapman

This is a very interesting topic and I’m in sort of the opposite situation, renting and thinking of buying. If we take a purely financial approach, meaning not looking at things like quality of life, quality of neighborhood, etc., the argument to buy vs rent is not so obvious.

I have thought about moving into one of my rentals , and the more I crunch the numbers it seems to make more of a case for renting. In my case, I could get about $625/month from my rental, and my budget to rent is around the same. So by moving in, I don’t have to pay rent, but the opportunity cost is $625/month. If I rent, I pay (to make the math easy) $625/month but also get the same from my rental. It’s not quite a wash since my expenses would be less in the case where I move in to my rental because I would take good care of the place, not have to evict myself, etc.

If we assume I save $100/month in expenses by moving in to my rental, the question then becomes is that worth the cost of living next to my tenants (it’s a 4plex), living in a less desirable area, living farther from work, etc. To me it’s not worth it, so I’ll continue renting at least for the short term.

This of course neglects to take into account the lower interest rate from owner occupied financing and lower (FHA) downpayment, but I would never get FHA financing anyway, especially with the new regulations.

I think the main arguments for home ownership is if you know you will be living there a LONG time, and the house provides some utility that could not otherwise be had renting. For myself, I would never pay retail for the house I eventually move into. I would need some equity on the front end. I also think that having a place you would be happy living in long term AND being a good rental are somewhat oxymorons, hence needing equity.

Katherine Wieser

Your utility costs will kill your return. Total utilities of $6857 is nearly 20% of your gross rents. Are utilities really that expensive in Canada? I'd see if there was a way to pass that cost on to the tenants.

J Scott Matt Devincenzo

From a GC's point of view, is $500 really enough to get him to do this? He's basically putting his name on work done by someone else. Unless he has a very close relationship to the handyman (or whoever is doing the work) and the person he's pulling permits for, I can't imagine any GC willing to do this. Does the GC actually inspect the work to make sure it is being done properly? It seems like a lot of risk for little reward.

And to keep this thread from going completely off track, I agree that physical labor sucks. I just striped a parking lot this weekend. Didn't know what the heck I was doing. Multiple trips to HD and 5 hours later and I'm still not done. I guess we all have to learn some things the hard way lol.

Yeah that is an obvious concern, but it would seem like most of the cost is in the up front purchase of the machine, and the day-to-day costs would be relatively minimal.

I guess I was more wondering about the ATM business in general.

Just thinking out loud here. I'm always looking for additional income streams. Anyone know anything about running an ATM business?. I read a bit about it online from various websites, but from what I’ve seen there is not a lot out there for this. Perhaps the market is saturated already…

Another thought I had was to put one on a multifamily property. I’ve never seen this done before so there probably is some zoning restrictions but the idea seems interesting…

Any thoughts?

Tinotenda Arigurinu

I ended up passing on this one. Got another one in a better area for less.