All Forum Posts by: Charles H.

Great to see investors in the same area! Quick question... Do you guys have good recommendation for flooring people ? I am planning to remove carpet and put luxury vinyl planks... Might need somebody to install that.

Hello BP Rehabbers!

I spotted a house for sale for months and months in a beautiful area in hilton head island, SC. The house has a cathedral celling design, which is unique to the community so ... it gives me some interest to work on this house.

Now, while looking at it, it has been empty for 2-3 years, apparently with windows opened. The inside is not that bad actually, i didn't find many signs of mold, except the floor in the main room that warped. It looks like some kind of engineering or laminate floor, on top of a slab so i am not worried.

What i wonder is the roof which looks good from inside, except at 2 locations.

Attached is a picture of one of the location, where i spotted a highway of ants. Pen/thumb to show scale.

Roof was never changed. 1990. I understand it might be tricky, but would replacing the roof be the main thing to do, or do you suspect some other costs seeing the damage/ants?

Any idea on the cost (just an idea) looking at the shape of the roof ? Doesn't seem like a complex roof. House is 3000 sq ft.

Also I didn't find the outside air conditioning units...wtf? Not even a piping, except 2 pipes going into the ground outside, but i would be highly suspicious that it's geothermal here in SC....

Thanks all.

I am in the area too. Lots of small multi in Ardsley Park. Safe-ish area with solid houses around. A shy pricey though.

The Starland seems to get a lot of investment incoming too.

Hi all,

anybody has an idea how to run the BP calculator and tweak the payments to simulate paying every week instead of monthly, and ultimately generating ROI after 5 years, 10 etc?

Thanks!

Journals are sold! Thank you all!

One journal left!

@Eric Egeland, I sent you a PM. Thanks for your interest!

@Michael Plaks About the picture, I wanted to ask him, but he was too busy buying his new plane on that particular day for 2017 tax write-off ;-) $60MM write-off... Anyway.

Thanks @Eamonn McElroy & @Michael Plaks for your detailed answer.

I have a quote for $3240 for brand new system, 3T Carrier. Compressor repair was going to be ~$1500+ with 1 year warranty so no real choice here, I'll have to go with brand new.

From what I understand from your answers, it's not worthy to consider any tax benefit of the 15 year HVAC.

And the only tax benefit, if not doing cost seg, is to depreciate it over 27.5 years, correct?

Thanks guys for your help!

No I haven’t. I was not thinking it would be worth the cost of the cost seg process for such small property. 

Hi all,

I am having difficulties to have the exact answer for my question and I need a quick answer since I need to pay a bill soon!

I purchased a townhome last month and got it rented out within a week. Of course, this week, the compressor died. Supposedly $1800 for the repair. Or I may get a new unit for $4000-ish (waiting for the quote).

The HVAC is original and is 15 years old. I read on different post that the remaining depreciation of the old system could be taken this year.

Is it true ? How is the remaining 12.5 years calculated? Will it be 12.5 x some value = deduction for this year ?

Thank you guys for the help!