I was wondering if anyone uses gross rent multiplier when evaluating income property for purchase? Specifically for SFR and duplexes. Or do you prefer comps? Or both? Any thoughts?
First off, any new piece of equipment can fail. It happens all of the time.
The problem could be a number of causes, line sets leak, low on refrigerent from the start, compressor turning off on overload, compressor valves bad....
The line sets do not necessarily need to be replaced when installing a new condenser, If it was installed properly the line sets and indoor coil would have been evacuated before start-up. That would have completely cleaned the system from moisture and contaminants. A filter should have been installed though on each copper line outside by the condenser.
The tech who is coming out to look at it should be able to determine if it was installed properly or not.
You should not be liable for any costs. Either the new system is faulty, or was not installed properly, and most contractors will warranty their labor for one full year.
Well the tech showed up today, appears the freon level was low indicating there is a leak somewhere in the lines. The tech forgot his leak checker ??? He filled the freon and will return tommorrow to track down the leak. This is lame, who forgets a leak checking device when the symptoms point towards a coolant problem? Now I have to make sure he can get access tommorrow , which may mean anoither trip out to the property. Oh well , while I was there I used the shop vac and sucked out the condesation lines located outside the units, that task is becomming a regular job (2 month interval).
I stil feel that this AC installer was not a good one to use. It appears he is solo (no other workers) and is a new company. Hopefully he will not fold, move or change profession leaving me hanging out to dry. On my side, I did not hire him (partner did) but he was a few hundred below the established guys.
He explained the worse case scenerio would be if the leak is under the slab and not accessable, I do not even know how a new line could be run, or who would be required to pay for the new line or the repair of the
buried line. Any thoughts? If the leak is easy to get to he sounds like he will fix it for no charge. If it is under the slab ...what next? and who is responsible for the repiar cost? It seems he should have caught this leak after his installation checks. Hope for the best and plan for the worse.
Anyone?
For large multi-unit properties, GRM might be a useful quick and dirty metric to estimate the value of a property.
For single family or duplex properties, the value of the property is determined by comparable sales.
You should use a cash flow analysis to determine whether the purchase of a specific rental property is a good business decision.
Thanks NewKid!
First off, any new piece of equipment can fail. It happens all of the time.
The problem could be a number of causes, line sets leak, low on refrigerent from the start, compressor turning off on overload, compressor valves bad....
The line sets do not necessarily need to be replaced when installing a new condenser, If it was installed properly the line sets and indoor coil would have been evacuated before start-up. That would have completely cleaned the system from moisture and contaminants. A filter should have been installed though on each copper line outside by the condenser.
The tech who is coming out to look at it should be able to determine if it was installed properly or not.
You should not be liable for any costs. Either the new system is faulty, or was not installed properly, and most contractors will warranty their labor for one full year.
Well the tech showed up today, appears the freon level was low indicating there is a leak somewhere in the lines. The tech forgot his leak checker ??? He filled the freon and will return tommorrow to track down the leak. This is lame, who forgets a leak checking device when the symptoms point towards a coolant problem? Now I have to make sure he can get access tommorrow , which may mean anoither trip out to the property. Oh well , while I was there I used the shop vac and sucked out the condesation lines located outside the units, that task is becomming a regular job (2 month interval).
I stil feel that this AC installer was not a good one to use. It appears he is solo (no other workers) and is a new company. Hopefully he will not fold, move or change profession leaving me hanging out to dry. On my side, I did not hire him (partner did) but he was a few hundred below the established guys.
He explained the worse case scenerio would be if the leak is under the slab and not accessable, I do not even know how a new line could be run, or who would be required to pay for the new line or the repair of the
buried line. Any thoughts? If the leak is easy to get to he sounds like he will fix it for no charge. If it is under the slab ...what next? and who is responsible for the repiar cost? It seems he should have caught this leak after his installation checks. Hope for the best and plan for the worse.
I would get a second opinion.