All Forum Posts by: Henry T.

Not sure if you have landlord experience, so Forget the rental idea.

California is a high risk venture for any landlord. Way riskier if you have no experience. If your first tenant decides not to pay rent, you are sunk!!! (Part two),,,Now that it's a rental the IRS will take 100k+ if you decide to sell.

Put 500k in a Vanguard or Schwab Money market fund, you'll make in interest the same amount you make in rent without dealing with entitled tenants and repairs.

If you insist on being a landlord, take the money and buy five places and spread out your risk. You'll need a strong stomach. I'd recommend somewhere other than California.

As others here have said, buy your nice house, pay down the mortgage, relax. vaya con dios amigo.

 Ha! Always some wise guy looking for a free ride  :)  We have one little requirement in these cases. Owner takes the point,  goes first.

I absolutely hate ice makers, and I would never subject my tenants to those horrible things. They're  nothing but problems, even dangerous. I once went to look at a purchase and the owners' ice maker line was leaking on the floor. Big puddle in the kitchen. His little puppy ran by and slid right into the wall. It was traumatic for all of us to see!! And the children, those poor children, they we especially upset! First thing I do is rip 'em out.

I just did a 2/1  900sf house.  Going rate around here in Seattle would be about 7k.  11k is too much, I suggest you get a bunch more quotes. I could have easily paid for it, but I did it myself for the exercise. Two days work, then the third day I made a dump run.  Nice weather. Had my blutooth spkr blasting. Fun! Shingles from Lowes was about $1200. I already had a bunch of nails. 

Why does it need servicing? Is it not starting? (A/c capacitor yes)??  Get a strong shop vac with bristle brush and carefully clean off the condensing unit.  If it's not cooling you may need R22. Which will be expensive.

I'd say if it aint broke dont fix it.

Is this a gas furnace, or just a A/C unit. Where?

 Sorry, I know I'm probably an outlier but I disagree. It's an unwelcome encroachment caused by a neighbors' lack of maintenance or poor tree placement, but I'm the one that has to hire someone (at massive cost and difficult access) to cut deadly branches that are 100' up?  Then do it again in 5 years? The law needs changing. 

Best? Jack hammer, remove, pour new floor.

There should be a law limiting how close a tree(or type of tree) can grow near a property line. Act of god doesn't cut for me when the property line has multiple fir trees, and each limb is over 300 lbs. It's a hazard.  The laws need to be changed.

When I started I moved to where real estate was the cheapest in the country. Seattle. Unemployment was high but I had savings and managed to find work. It worked out. Keeping some savings/reserve was important.

Keep those reserves up, you're ok.