All Forum Posts by: Gayle Eisner

Hi all:

I had just heard about a Sandless method of refinishing wood floors that costs half the price of the regular method of sanding then refinishing.  Has anyone had any experience with using this method?  If it is legit, I think it would be great for fix and flipping as it is much less expensive for wood floors. Thx!

I don’t want to be a Debbie downer but in earthquake country, two story garage units are the very unsafe. I’m fact after the 1989 big one, they were banned…in Santa Clara co..just a thought— maybe get EQ Ins rider?

I have moved from one property to 4 and I am having a hard time with investment decisions.  I attempted to try a financial advisor, but mostly they are interested in if I have any stocks or cash. I am hoping to find someone to guide me along my real estate adventure and retirement that knows what’s going on. Is there any kind of advisers out there?

I think a good tenant is worth their weight in gold.  If something comes up, they will accommodate you as well.  I have a tenant that pays her rent on time every month, is quiet, never complains, takes a 3 month vacation every summer and pays me up front.  She has been there for 2 years.  I will consider an increase in rent this year of a small amount.  Good tenants are hard to find and with the unstable economy  and the uncertainty of a new tenant, I would keep that tenant happy... We could be in for some rough financial times ahead. It also depends on your local market situation as well.  Getting a new tenant may pay you more initially, but there are a lot of "lemons" out there that have the possibility of losing you money and causing many headaches. 

Old houses like what you described can be money pits unless you are a contractor.  I would stay away and look for something with less potential pitfalls.  It sounds, however, like you want the property.  Good luck! let us know how it goes!  

I have used American Home Warranty on my rentals for the past 20 years.  The older the house, the more you might consider a home warranty.  The cost I pay is $85 per visit.  The cost of the yearly warranty is around $400-500.  On the plus side, they do numerous common repairs, but you must read the contract to be sure it is paid for and you can add "extras".   My one rental property duplex is 86 years old AND it is located in the mountains.  Just the fee for any company to drive to the house is usually $50-$75 alone so the warranty company saves me money right there. Many regular contractors will not even come to the mountains... AHW have paid for new water heaters, , propane  plumbing, washer dryer repair, as well as replacing other appliances, such as a refrigerator and a dishwasher.  In one of my homes they installed a new heating system that only ended up costing me $800.  Another I had an entire stove top replaced for free, minus the $85 fee.  It has been a blessing to me as it is difficult to find a reliable handyman and I am not much of a do-it-yourselfer AND they charge one fee for both units.

On the down side, sometimes they have shoddy repair companies.  I usually look on Yelp before they send someone out for repair.  I have been working with them so long I can navigate some of the resistance they can put up for fixing things as well.  If I can, I ask not to use that company and they will accommodate my request most of the time and find someone more reputable ..  Also, they sometimes add fees.  For instance, when I had a water heater replaced, the company charged me $400 for the added cost due to the fact it was propane hook up. 

Further, there are long waits to get a hold of the company and I find myself having to follow up with them many times but I try to push this on the tenants as much as I can. That way they can have some flexibility over the situation and be home for the repairs.

Overall, I have been extremely happy with using a warranty company.  It can be a real headache at times, but overall it has paid for itself many many times over the years.

Thanks Steve! My house is really old..1931. Followed up on new fire station. I talked with the fireman & it was disappointing to learn that the facility will be new but they are not adding any new fire trucks (2) or men (3). Just a heads up!

Hi Steve:

Yes, I have a duplex in Redwood Estates.  The talk on the mountain is that CalFire will be mandating property inspections every year (which is a good thing).  What type of renovations did you have to do?  Can you give me more information?  My property has a great cash flow.  

Older homes always take longer and are more expensive, in general, to rehab. Many with older homes enjoy the nice features of a well-built home but the plumbing, heating and cooling, and electrical are key problem areas.  With upgrades and inspection costs, it could be very costly for an investment.

Beware of the fluctuating costs of supplies.  I had a friend that tried that but was half way through her investment and lumber prices skyrocketed. Not only that, it was almost impossible to get so they had to put off a costly 6 months of building time plus they could not find other products as well.