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All Forum Posts by: Tim Holmes

Tim Holmes has started 1 posts and replied 107 times.

Post: Househacking with a Garage

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Nathan Christensen If you choose to do this you should pull the permits. I have a friend who tried to do it the stealthy way, and the ''departments'' came in and made him restore it back to a garage. All it takes is one neighbor to complain.

Post: Should I become the bank?

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

Since I'm looking for passive income, If this were my situation I would sell by owner all these homes at as close to retail as possible. And 1031 the money into a Delaware statutory Trust. Take my 5% annualized payments monthly and live off the passive income.

Post: Fixated On Real Estate:Wholesaling Systems and Bad-Ass Networking

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Tarl Yarber Thanks for the invite Tarl. There will be two of us coming.

Post: Fixated On Real Estate: Systems for Success/Badass Networoking

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Tarl Yarber Thanks for invite. Working that night. Please keep me on your list for next time.

Post: Do I add a 2nd furnace to improve cash flow?

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Neil Beeharry if you take one unit off the oil burner, that oil burner will be oversized for one unit. A good HAVC guy will be able to run manual J tests to properly size your units.

Post: Do I add a 2nd furnace to improve cash flow?

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

I think @Travis Frenchak idea of electric baseboards might the lowest cost solution. However when I tell my prospective tenants that the ductless mini split in their unit is only going to cost them $50 per month, in the winter, it's a big selling point. So like @John Underwood was saying. If ducts are in place use two heat pumps. If ducts are old and need to be replaced consider two ductless mini splits. I think you may be able to buy two 24000btu mini splits for $5000. I will admit my western Washington winters are warmer than Conn.

Post: Best place to purchase windows in the Tacoma area

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Matthew Foldesi I got my windows from Cascade Windows. They were all custom sizes and way cheaper and faster than home depot. The territory manager, Monty Huddleston, came out measured and ordered the windows. Message me if you need more information.

Post: Liabilities vs Assets

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Pavs Doychev Hold a big towel under the dent with a shovel. Pour very hot water on the dent while damming the water up with the towel. Get the dented area very warm than push the dent out from the inside. Sell the liability, I mean dog .Use the proceeds to get bumper painted. Long live hockey.

Post: ADU to HOA then sell?

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

If your single family residence is zoned to accept an ADU, accessory dwelling unit, you could build an ADU but then you would have to subdivide the property before you could sell either home separately from the other.

Post: BP local area meetings

Tim HolmesPosted
  • Canton Ms. Tacoma Wa.
  • Posts 117
  • Votes 39

@Daren Jones the meetup in Lakewood is at the Ram and you should contact @Troy Fisher.