[plm]

Yes, totally agree with you Flu. I’m way too trusting and have too much compassion to treat the rental as a business. If it gets to be a problem, I will hire a property manager.

I’m not that trusting though. I will get the cash before I give them the keys.

[plm]

No credit check, there was some issue where it couldn’t be done. But did verify employment.

Will provide cash when they move in so security deposit will not be an issue.

Not sure rental market is hot or maybe its the time of the year now. After initial surge of around 20 people, it slowed down quite a bit.

I know I should treat this as a business but I think its good to give nice people a second chance.

[plm]

Lots of good advice. I should have asked these questions before agreeing to the lease. I’ll see what happens but I haven’t ruled out renting to them if they come up with the money.

The bank account number I’m not sure what they can do with it. Every check you write, the other person gets your account number anyways. But this Zelle Quick Pay seems the way to go in the future.

Thanks

[plm]

I checked the lease, here is what is says:

Tenant shall not be entitled to possession of the premises designated for lease until the security deposit and first month’s rent (or prorated portion thereof), less any applicable promotional discount, is paid in full and the premises designated for lease is vacated by the prior tenant.

So it seems like its ok for me to withhold keys until I get paid. I know there are numerous red flags but we’ve met them and they do seem like really nice folks.

From a business stand point, I agree, we should run away from this but I think we can still do the lease as long as they come up with the money.

[plm]

In my rental, one neighbor replaced the fence with a white vinyl one. and the other side is still wood painted brown and it doesn’t look bad having two different types. What is ugly though is the vinyl fence. Wood looks so much better than the vinyl fence.

[plm]

[quote=gzz]A fence is about the simplist thing to do yourself.

I enjoyed picking through the pickets at home depot to find the reddest redwood.

I put two side stacked rows of standard bricks partly underground below the wood to make it harder for weeds and animals to burrow under the fence, and also so the bottom of the pickets had less soil contact.[/quote]

My rental property I need to fix up so I need to repair some pieces of the wood fence and also replace the rusted out wrought iron fence. Are the wood pieces all standard size so I just buy new ones and replace. Or do I need a saw to cut to length? Don’t know if I should do it myself or just have whatever company I find to do the wrought iron fix, fix the wood fence as well.

Thanks

[plm]

I think there must be a courtesy rate. During a connection in SFO, we missed our flight to Frankfurt since our plane was delayed coming in. I remember the gate agent going well beyond her job duties walking us over to Lufthansa getting us two Business class seats (only seats left) then walking us through security to bypass the lines so we can board the Lufthansa flight in time. Totally saved our european vacation although we didn’t get our luggage until four days later.

This was United so it really depends on the person, not the airline.

[plm]

Well, what I did was put a lot of money in the stock market last year which is working out very well. Putting some money in this year as well but not as much.

I’ve been following a different stock strategy (buy stocks that are trending up than what I did in the past which is working out well. Tried diversifying by buying stocks in sectors other than semis and internet but those stocks aren’t doing as well. I’m not going to worry about diversifying going forward.

But really I’d suggest you make your own decisions. I’m not experienced in the stock market at all, making mistakes all the time. As long as the market keeps going up, more than likely the stock you pick will go up as well. So its kind of hard not to make money.

[plm]

Not trying to outsmart the market. I am way too much of a novice for that. Just got extremely fortunate in the market last year (dumb luck) and talks of bubbles scare me into whether I should diversify. Last year I decided to let it ride and that worked out beautifully. Hope the market keeps going up.

[plm]

[quote=tnuomarap][quote=plm]Why do people think there is a bubble?

According to historic data,
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html

It seems like the geometric average is 7 for the last 10 years vs 10 percent in the past. So doesn’t this mean the market is undervalued since its been growing less than historic levels?[/quote]

Yes, but consider that GDP growth has been subpar for nearly a decade, around 2%. And yet as mentioned the market (dow) has soared (relative to gdp) during the same time period.[/quote]

That’s a valid point that the stock market should grow slower if gdp slows. I think historically the stock market grows at a rate higher than gdp though. Maybe PE ratio is the best way to determine if there is a stock bubble.

[plm]

[quote=phaster][quote=plm]Why do people think there is a bubble?

According to historic data,
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html

It seems like the geometric average is 7 for the last 10 years vs 10 percent in the past. So doesn’t this mean the market is undervalued since its been growing less than historic levels?[/quote]

FYI when playing the markets or “forecasting” too often people get fixated
on the past financial performance figures because they expect the same
going forward, this is known as the “Gambler’s Fallacy” or the “Fallacy of
the Maturity of Chances” and why the SEC mandates investor warnings
(note this idea also applies to real estate prices)

http://www.investopedia.com/terms/g/gamblersfallacy.asp%5B/quote%5D

I don’t think the Gambler’s Fallacy applies in this case. Historical average of 10 or current average of 7 percent return is what one should expect over the long term.

[plm]

Why do people think there is a bubble?

According to historic data,
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html

It seems like the geometric average is 7 for the last 10 years vs 10 percent in the past. So doesn’t this mean the market is undervalued since its been growing less than historic levels?

[plm]

Regulator is replaced now. Seems like an easy enough job if you know what you are doing. No pipes to cut or soldering. Drain the water, replace the regulator by unscrewing some large nuts and replace the washers. Turn the water on and drain the air then set the pressure.

[plm]

[quote=ucodegen][quote=plm]
Home depot had what I needed. 100 psi and the pressure didn’t change when I loosened the screw. Now it leaks as well so definitely need to replace the regulator. Only lasted seven years. Thanks to both of you for your help.[/quote]

Where is it leaking from. The adjusting threads? If so, the diaphragm is broken. On some of them, it is possible to replace the diaphragm. It is much like the diaphragm on automatic sprinkler control valves.

Find the make and look it up. It might be something like: this[/quote]

Yes, its the adjusting thread. Since I’m having a plumber do the fix, it makes sense to just replace it considering a plumber’s hourly rate. But for do it yourself it makes sense to repair, no pipe cutting, soldering needed then. My valve is actually a larger 1 1/4″ part which isn’t even available at home depot locally. But he was able to find it cheaper locally somehow so I don’t mind paying for a professional to do the fix for me. And he’s a very nice guy, super helpful when I had a crisis that almost flooded my house.

[plm]

[quote=Hobie]Since you are going to replace the reg, you could sacrifice it until your get the repair. Shut off water and get some JB WELD putty. You mash it between your fingers ( gloves) to mix the epoxy. Remove the pressure screw and coat the threads. Reinstall and it should stop leak. Dry within an hour. ( Im assuming it is leaking at the threads only)[/quote]

It’s a slow drip at the treads so I’ll not worry about it since the plumber will be over tomorrow afternoon. Got to drive back home and get a picture of the whole thing so he can order the right size, the model number isn’t good enough. Thanks for the info on stopping leaks.

[Author]

Posts