All Forum Posts by: James Sebastian

Hello all. We have our primary home, auto, and an umbrella policies with one insurance company.  I have a rental house covered by a different insurance company (through the same agent) because the first company either refused or was way high on a student rental.

We renewed and increased the umbrella policy, and I just realized they will not cover anything at the rental property.  I feel like that kind of defeats the purpose... Anyone know if this a common situation?  Should we look at increasing the liability coverage on the rental instead?

Thank you!

I'm using rocketdollar.com for a self-directed IRA. Accounts are held at Solera Bank in Colorado, which will also lend to you if you have an account with them. Two things to watch:

- Check this, but I think you can do the mortgage for a 401(k) without incurring UDFI / UBIT (not so for my IRA, unfortunately)

- There are a number of lenders out there you can work with for nonrecourse loans, but be careful how you structure your deals. I got disqualified for most of them (including Solera) because I partnered with a non-IRA LLC so someone could do the work and almost nobody wants to loan to the mixed IRA / non-IRA partnership. We have a couple prospects but have done everything in cash to date. It's still been worth it, but we are also in the Midwest so have a combination of good cash flow and lots of forced equity on the rehabs.

I DIY'd a 5kW residential system so most of that doesn't apply.  But I did want to say, the calculator at

https://pvwatts.nrel.gov/ was spot on for predicting how much energy I harvest (in Ohio). You can use that as a sanity check against any estimates you get on production.

I set up with Rocketdollar.com and they set up the checkbook LLC through Solera bank. Almost 2 years, no complaints.

Around here you have to connect to sewer within a certain number of years after it goes through. But if the septic's still working and legal, I'd stick with it. Why volunteer for a sewer bill?  Mine costs me like $50 every 3 years for an "inspection" by the county.

I'm doing something similar with my daughter- almost a gut rehab.  The girls have been in it for a year and a half- white cabinets, hardwood floors.  I have no complaints.  It does just depend on the specific kids.  And it's not always the boys who are the worst.

Sorry, I have to disagree with a couple points above.  Generally, a house on natural gas uses it for the furnace, water heater, and possibly stove and dryer.  And burning it does release CO2  (hydrocarbon + Oxygen = heat + water +CO2).  As to the long term economics, we'd go on natural gas if we could but the lines don't come out here so I switched from propane to electric heat pump + fireplace a wile back (Ohio).

Look up "interest tracing" rules from the IRS and talk to your accountant.  My understanding is that the interest on the money you pull out will be deductible if the money is used as an investment.  It's not an investment in this property, you already bought it. Keep it in a separate account, it's deductible against the interest you earn. Spend it on repairs, or another property, or a mutual fund, it's deductible against the gains from those.  Spend it on any personal expenses, you're out of luck.

Hello all, we are looking for a Dayton-area architect for a small job on a 4plex remodel.  I've had several local referrals that didn't pan out, the search here on BP returned no one, can anyone out there refer someone before I just start randomly calling/emailing architects in the local directory?  Thank you.

Around Dayton, Craigslist ads for "I'll give you the wood if you cut down the tree" are usually up for a long time. I get most of my wood each year from " I had a tree service take it down, cut it up, remove the brush, please take the wood for free"  Honeylocust burns good but I wouldn't go near cutting it for you if it's not the thornless cultivar.  Good Luck!