All Forum Posts by: Genny Li
Genny Li has started 21 posts and replied 422 times.
Post: Help me understand the extent of rehab required

- Baltimore, MD
- Posts 431
- Votes 281
Originally posted by @Account Closed:
Everything in the house probably contains asbestos. You need to post more numbers in regards to your purchase price and after repair value. If you purchase the house for $50k and it is worth $1.5 million when finished then maybe you have a good deal. Otherwise, you need to do the math a hundred times to project your profits before you purchase the property and not after. Only you have the numbers to do that.
Lol. Lots of asbestos from 1909? Not likely at all.
Popcorn ceilings weren't popular then. If you don't have an old "fix" with old acoustic ceiling tiles, you are probably fine. You can put VLP right over any asbestos VCT tiles and walk away happy that everyone is safe.
Lynette has the right idea. I'm just concerned that you don't have the knowledge for this sort of job.
Post: Depreciation - Which software to use

- Baltimore, MD
- Posts 431
- Votes 281
Excel. I de minimis everything I can lol. You might change CPAs. Good chance this will happen in the next 27.5 years, right? So you need to track it yourself.
Post: how many tankless water heaters for quadplex?

- Baltimore, MD
- Posts 431
- Votes 281
Originally posted by @Colleen F.:
@Mike Reynolds I am sorry if I wasnt' clear I have on demand attached to the oil furnace. It has also as small reservoir. I would guess 2 gallons. It would be the same concept as if I had it attached to the natural gas furnace. We just can't get gas alot of places up here there aren't gas lines to connect to. I had on demand whole house electric up in MA and it was fine. I have on demand electric whole house in Phoenix and it is terrible, needs a recirculating system so you don't have to run water forever. I also wish people would post their locations.
There are alot of factors like the run of the lines to the farthest fixture that will impact how well a system works. However if you have a choice of fuels and you have to pay for it I would pick NG. However if the OP can shift cost to tenants electric might.
@Genny Li and the install costs on geothermal? You use it for heat and AC with no backup heat?
It was $36k. I made a mistake when I bought this house. I didn't imaginet hat the AC had been retrofitted by blowing air without ducts through wall cavities. Ahahahhah. So when my AC was dying, I had to redo all the ducts. That was the geothermal plus ducts but not with the drywall work required to make it look right.
Also, it only makes sense if your options are resistance electric and oil or propane. It doesn't make sense if you have gas as an option.
i would recommend hanging on a few years for direct geothermal to become more common. It will be much, much cheaper than traditional indirect geothermal because they are allowed to bury the copper lines with coolant directly in the soil! I had to have a well digging service put in multiple vertical loops for mine.
This is NOT an investment property. I'd never do it on an investment property. This is our forever home.
Post: how many tankless water heaters for quadplex?

- Baltimore, MD
- Posts 431
- Votes 281
Originally posted by @Mike Reynolds:
Originally posted by @Genny Li:
While on demand are super hot, they don't actually save enough over NG to justify the switch, and they have higher lifetime costs, so it comes out in the wash. Electric on demand would actually cost more than NG tanks.... NG on demand requires more ventilation. The new heat-pump electric tanks put electric almost on parity with NG, so I'm actually not inclined to do tankless at all anymore in any application.
And I like cool new things. I have a PEX manifold in my house right now. lol.
I've never had an oil on-demand! I have an oil indirect now. lol. Exotic. I thought I'd had practically every way to heat residential imaginable....
I agree, the gas is better in the long haul. Plus they heat water better. Electric just is not feasible for most remodels anyway. Most old electric service is even 100 amp and many if you are lucky 150 amp. Back in the day we didnt have cell phones and PCs and every thing under the sun to plug in. Usually it was one plug per bedroom wall, no GFCI or arc fault. Dont even get me started on Zinsco breakers and fuses.
I built a 19,000 foot party barn and the owner insisted he wanted electric on demand heaters. I cheated and ran a gas line to the unit also and capped it off. Come the following January he asked me how hard it would be to convert it to gas. I told him it would take a good day and a new heater. I never told him that I already had a gas line ran there. I knew he would want it sooner rather than later. He thinks I am the man and I have got so many recommendations from him I have lost count. I just dont trust the electric ones at all but some people swear by them.
I can't get NG in my own home, so I went geothermal when I had to redo the AC, which beats oil and propane hands down for costs. I'm down from $5-6k per year in total utilities (high local electric rates and also oil in an older house that's about 3300 sqft with vaulted ceilings everywhere, and I work from home) down to less than $3k.
My geothermal's oversized enough that I took out the baseboard hydronic as back up heat after the house stayed super toasty during the last deep, deep freeze, so now I want the indirect tank gone. My choices are electric and electric lol so I'm doing the heat pump electric--should be fine even on the geothermal. Too bad I didn't have the indirect pack installed in the geothermal originally. I'm going to see if I can and then go to an inline instant WH as a booster, which would give me free hot water all summer long, but that may not be reasonable. I've got a few more big projects in this house before I want to do that, including the heavy-up. But that's the only use that I can think of where I'd actually want an instant today, except for like in a guest house.
Post: Modular home on permanent foundation

- Baltimore, MD
- Posts 431
- Votes 281
They're probably misclassifying a manufactured home.
Post: Some good general tips on permanent pest control during remodels!

- Baltimore, MD
- Posts 431
- Votes 281
I watch Matt Risinger for the over-the-top stuff mostly, but this is actually practical for anyone, with lots of helpful comment tips!
I think that's not displaying, so here's a shortlink:
If that still doesn't work, search "Matt Risinger Pest Control."
Post: how many tankless water heaters for quadplex?

- Baltimore, MD
- Posts 431
- Votes 281
While on demand are super hot, they don't actually save enough over NG to justify the switch, and they have higher lifetime costs, so it comes out in the wash. Electric on demand would actually cost more than NG tanks.... NG on demand requires more ventilation. The new heat-pump electric tanks put electric almost on parity with NG, so I'm actually not inclined to do tankless at all anymore in any application.
And I like cool new things. I have a PEX manifold in my house right now. lol.
I've never had an oil on-demand! I have an oil indirect now. lol. Exotic. I thought I'd had practically every way to heat residential imaginable....
Post: Kitchen & bath splash tiles using luxury vinyl bad idea?

- Baltimore, MD
- Posts 431
- Votes 281
Originally posted by @Mark S.:
@Genny Li Hmm maybe they did where you live but certainly not in any of the states I invest in.
It really depends on the age of your clientele and how trend conscious they are. If you rent to old people, they are going to be behind the trends by a lot. If you rent quite downmarket, they also don't follow the trends as closely, either. For those 2 demographics, you can look at what RV companies are putting in their RVs and what manufactured housing makers are putting in theirs. I bet you'll still be seeing word art in model manufactured housing for the next 5 years, minimum! RVs are 10-15 years behind, and MHs run 5-10, but they're pushing it now to about 3-7. In general, the middle and south of the country drags about three years behind the coasts, too.
But even if you're downmarket, watch the trends that stick and that disappear on the cutting edge of the coasts to know what you need to be doing to stay ahead of becoming out of style. And if it ain't in Clayton Homes' fanciest homes anymore but it was, stop doing it! They know their market. Clayton Homes is GREAT at adopting what was peak style about 5 years ago. (They never did any tile because it can crack in transport, so for subway tile, it's not a good idea. But you can check them for other things.) Even Clayton Homes is moving away from gray toward a true beige in its model homes. That tell you something.
For what's popular now in a very democratic sense, check out Houzz's popular today page. https://www.houzz.com/photos/k... This is what average people like, so it includes the majority of folks running 3+ years behind. The "new hotness" are these handmade super gloss wavy tiles that have a name. You'll hardly find a plain white subway tile among the bunch now, and this includes all the average people looking and pinning.
I'm old enough now that I would become numb to trends, too, if I weren't making a point not to, not because I love trends but because I don't want to make the mistakes that so many landlords do. They become blind to their building going from B+ to B to B-. The previous owner raised the price on her rental by $100/mo when she painted the dark taupe that was super popular, but she missed the gray wave entirely and had to drop the price, just because her paint was outdated and make the whole place look tired.
Post: What did you think of today's BP podcast episode (Episode 500)?

- Baltimore, MD
- Posts 431
- Votes 281
Originally posted by @Bill B.:
Yeah unless it's like the Great Recession in Vegas a dozen years ago. Then you need to sell the MFR and get ready to buy SFH. MFR got crushed with vacancies while SFH rents soared. But there's already nothing to buy as inventory is non-existent.
At least in SFH you're competing against "the little guy" instead of the experts and institutional money that thinks a 3% return is awesome. Plus you can sell to the owner occupant instead of just an investor looking for a deal.
I think you’ll do fine either way but I’ve been wrong before.
Oh, geez, I forgot about that. I had a friend in Vegas at the time. The carnage was incredible.
Post: Encapsulate a crawl space,New ductwork, rotting floor joists…

- Baltimore, MD
- Posts 431
- Votes 281
Here is a building science article which explains why MOAR VENTILATION is stupid: https://www.buildingscience.co...
(You don't actually need a flooring in a retrofitted encapsulated crawlspace, because you can just choose not to insulate the ground at all, which is the cheaper solution that is smarter for older houses, as the insulation of the ground returns fairly marginal gains for the huge cost of doing it. You put a vapor barrier on the ground and crawlspace walls and insulate just the crawlspace walls. You can think of the ground like an uninsulated slab, which was the standard until like the 90s.)