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All Forum Posts by: Stephen Masek

Stephen Masek has started 25 posts and replied 602 times.

Post: Landlords - What are all your practical Money savers?

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204
Originally posted by Patrick Snyder:
Another tip I have picked up is to have leases end /begin in the summer.
Indeed. Also close sales so that you can rent in spring or summer.

Post: Landlords - What are all your practical Money savers?

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204
Originally posted by Naga A.:
Michael Lauther, can you provide an out of state landlord like myself with a tip to find a reasonable and reliable handyman who can do almost everything? I have the exact problem with my Las Vegas property manager.

Thanks

Who are you using in Las Vegas. Our manager, Dane Brooks at Valleywide Property Management has a handy man.

We've got the same problem with the bone-heads managing our houses in memphis, so will be replacing them.

Post: Landlords - What are all your practical Money savers?

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204
Originally posted by Ken Latchers:
Buy post 1989 buildings (lead).
Wrong! Lead-based paint is rare in buildings built 1960 to 1978, and some built in the 1950s have little or none.

Asbestos usage peaked in the middle 1960 to late 1970s, then fell to almost none by the end of teh 1980s.

Post: This is Retail Center a deal? Please advise

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204
Originally posted by Tod R.:
For commercial acquisitions, you should have a property condition inspection/report. This will give you an assessment of the remaining useful life of the major components of improvements and recommend a certain level of reserve. Usually the lender will base their required initial and monthly capital reserve escrow payments off of this report.
I'll second that, as I helped write parts of the original ASTM E2018 standard for PCA as an active member of the task group which developed it.

You need a Phase I, PCA, asbstos survey, lead survey, and miscellaneous toxic materials survey (mercury, PCBs, etc.).

Those of us who collect and restore old radios lament the current state of Radio Shack as a battery and cell phone store with few parts. However, they seem to be doing several things right, as there are plenty of them in business all over the USA. I wonder how much they are making per square foot?

Post: Trafficmaster Allure and Vinyl Wood Flooring

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204

I discovered this material when I noticed that one of my company's clients uses Urban Luxury Vinyl plank flooring in kitchens and bathrooms of their apartments, and it appears to be very durable and looks quite nice.

Post: Churchill Rehab Project Underway

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204

Asbestos was still common well into the 1980s in materials as common as drywall joint compound. By the end of the 1980s, it fell off to almost nothing.

Respirators are really intended to be back-up protection when "engineering controls" such as adequate wetting fail. If a respirator is used, it needs to be tight fitting and equipped with P-100 cartridges. It also needs to fit (not leak). For employees, there are specific detailed regulations.

Post: Insurance for Landlords

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204

Insurance is inexpensive. We're paying $32 to $69 per month, with $50 being typical.

As Ryan stated, umbrella policies are very inexpensive.

Post: Replace those compression valves with 1/4 turn angle valves!

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204

Ineed, good advice. Often, the old ring is stuck to stay on copper pipe. In those cases, simply discard the new ring and nut which come with the new valve and use the old ring and nut.

Post: Why do investors buy HOA liens at auction?

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204
Originally posted by Ryan Webber:
Auctions and newbies mixed together is crazy to watch. The stupidest things I've ever seen an investor do were at auctions.
Indeed. Just a few months ago I saw a guy at a foreclosure auction bid almost full market price for a house with a great big IRS tax lien on it.

Post: Churchill Rehab Project Underway

Stephen MasekPosted
  • Investor
  • Mission Viejo, CA
  • Posts 627
  • Votes 204

Any asbestos in that drywall joint compound? The peak usage for it in residences was the middle 1960s to late 1970s.