All Forum Posts by: Matt Tallent

Hey all I eventually want to add a full bathroom in my house. The bathroom would go in a room right above the sewage/drainage line. I calculated the supplies to around 2500. The part I’m worried about is the labor. Any idea how much it would cost to add a full bathroom labor wise. Just lighting, plumbing, toilet sink install, and a shower stall install, plus doors and walls? Thanks!

@Ben Morris hey Ben yeah I would set a bank account for each of your rentals or you could even do all of them under one account. Sync to your quickbooks and pay for everything with a debit card. When you swipe at Home Depot it will register in quickbooks and you just click expense and it adds it. I get rents venmo trnasfer straight to my bank account and I just add as sales. At the end of the year my cpa has access to my quickbooks and just prints a profit loss statement. It’s 21$ a month also a tax write off under office supply and software!

@Mike McCarthy thanks Mike! So the seller is willing to replace with a new 100amp panel. When I viewed the house there were existing tenants and they had outlets running a tv and ac unit. Obviously this is where the hazard comes from but it didn’t seem like an issue. My question is I guess with an updated panel and if I installed one grounded line in each bedroom do you think it would even be an issue?

@Mags S. I’m looking to buy a house now in Philly with knob and tube the seller is putting in a new service line and panel. Should I still be worried?

I have a four bedroom that I was house hacking and living with friends but now I am about to move out. My roommates are nervous about a rando. Any suggestions on finding a good tenant that would fit with my current tenants. I’m thinking usual screening process and also have them meet the currents tenants before hand. Any other suggestions would be greatly appreciated!

Anyone know the cost installed with parts to replace a furnace? I’m looking at a house that may need a new furnance in a few years. Price is already pretty low so i probably won’t get it off in the inspection.

@Jenny Adel I used to own a landscaping company. I’m from PA and we’re getting the same type of rain I feel like we’re Seattle now. Even if you try to grow grass in this it’s going to wash away. Sod is so expensive even for the material then the labor is thousands. Cheapest way to do it in the rain is to put seed down with erosion mat over it. But maybe just say “o I checked with a landscaper and they said it won’t grow in this rain”.

Thanks @Caleb Heimsoth yeah the only thing that came up for me was a bathroom that cost me 2k but so far everything else has been good.

Just wondering what’s a good rule when it comes to having reserves. For vacancies and repairs how much in reserves should I have for a rental and an owner occupied house? Thanks!

@Frank Chin hey Frank how do you get an sba loan I don’t know about those?