All Forum Posts by: Loren Thomas

I think a crew of 4 is too big for the example given, that alone reduces costs quite a bit. 

20 weeks is a lot. Lots of wear and tear, and the prime weeks would likely be around when I'd want to use it.

You make valid points. The definition of real estate would have to be modified in order to include it. Definitely a high risk asset. But if cash flow positive, certainly an asset. Banks finance them nearly the same as houses, you can even write them off as a second home on taxes.  To be honest I'm not looking to scale a huge business. I'm trying to own a yacht! (many years from now)

Here's a real example.

2.5M Yacht 

http://www.yachtworld.com/boats/2001/Sovereign-Pil...

~50k/Wk income 

Comps: http://www.infinityyachts.com/site/browse_yachts/alaska_and_pacific_north_west.html

I think a strong argument can be made for a yacht to be considered real estate. Perhaps not by some standards, but an argument could certainly be made... 

Does anyone own a yacht? Do you charter it? Has anyone done this? I'm not talking the 250M one at F1 races in Abu Dhabi, I'm talking say a 1M one. If you can get it to cash flow then you have a viable business asset.

Location is obviously important. Me being in the Pacific Northwest, I think location would not be an issue so I haven't put much thought into it. There's many years worth of places to go here. (RE!?)

A good certified captain Captain would have to be found, another title for him could perhaps be property manager... (RE!?)

Depreciation. This is the only area that's really tough. It's never going to increase in value.. it just isn't. But the income in produces perhaps could.

Anyone!?

Ha how's that for a hook! I've had iphones and droids both. I have a Note 5 now and it is the best device I've had.

I think an iphone is fantastic for your 70 year old grandmother's first phone, it's so simple. But for work, it shouldn't be the trendy competition that it is. It's a blow out.

Why do you like your iPhone so much?!

Baseboard heat is NOT efficient. As far as heating efficiency goes, its at the very very bottom of the spectrum.

@Brie Schmidt 

Split units are great, but compared to the cost of just putting in little electric cadet forced air heaters, it doesn't seem worth it. You don't have to change the wiring or run any ducting or coolant lines or anything else. Cadet or King forced air heaters that you can get at any home improvement store ($50-$100ea) are the closest thing to a direct replacement, and therefor a lot cheaper to do, and much more efficient as they have a fan that blows the heat rather than relying on "heat rises" only theory.

You should get 1% or 2% of the purchase price of a property in rent every month. Some consider it pretty unrealistic.

Getting the license makes sense to me. I've been looking online for a good portion of the morning. $289 is the most economic I could find, while others wanted 500+... 

What program did you use and did you like it?

Is there an update to this situation? @Yoann Mamy Randriamihaja

It is a problem and needs to be fixed properly. It will function properly until you plug something in that must only go in one way, and could also require the neut at the neut location. It's a different size for a reason. 

You need to find out how many are doing this, if I read right, there's two? Its probably not a problem at the electrical panel unless there is nothing else on those circuits. The problem is likely in a wire nut behind an outlet or in a switch box. The 2 outlets that are incorrect may be at the end of a circuit, so you need to find the first thing that works properly when working backwards on that circuit. If it were me, I would turn every single break off except for the circuit that needs troubleshooting. It will be easier to determine what is apart of that circuit and what is not based on if it has power or not.

I don't know the wiring system, this could be very easy or very hard depending on your experience and what the problem is. 

Generally, whites go to whites, and blacks go to blacks. There are some reasons to use the white wire for power, and there's nothing wrong with doing it as long as the wire is re-identified with black to signify a power wire. When wires don't get re-identified, the wiring easily gets mixed up cause issues like the one you're having. 

My guess is the problem is behind a properly operating switch or outlet.

People will put the wrong size fuses in. True. The ungrounded electrical system that is wired to a fuse box is not code compliant. True. 

A new electrical panel and all new wiring should be considered. Some knob and tube wiring is still rubbery and well insulated and still very usable, but some is brittle and the insulation cracks exposing energized conductor. A new electrical panel will be properly grounded and bonded to ground rods, the plumbing system, and the gas system (if applicable), To make an insurance company happy, you'll need to upgrade to breakers, and GFCI protect all the knob and tube. By the time you do that, the cost to upgrade the whole electrical system won't be much more... unless its a big house.