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Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
Updates:

- finally got a hold of the recommended deck/wall contractor dude today. He will be able to do his more focused/detailed inspection of the deck and associated wall tonight or tomorrow. I'll have to pay a rush fee for this short timeline, but this inspection and rush fee would be subtracted from his ultimate bill to fix it after closing.

- related to the above, requesting extensions on the inspection related deadlines:
-- inspection objection deadline to 3/19 (from 3/12)
-- inspection termination and resolution deadlines to 3/24 (from 3/17)

- chatted with Vacasa and got a better idea of their pricing structure: 30% management fee. No flat fee/upfront fee or costs. Linen fees on top as an option. Short term rental insurance as an option: $8.54 per rented night for a presumably primary $1M policy. Owner cleaning fee ~$100 after our use. Platform agnostic to method of entry (garage code, keypad locks, etc.). They can arrange for snow removal services at my cost.

With no flat fees associated with Vacasa and things that'd be convenient to me (like the linen service and basically a corporate maintenance guy) I don't really see a downside, besides juggling the schedule of the post-use owner cleaning (at my cost) to coincide better with possible rentals instead of being a regular thing.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
- finally got a hold of the recommended deck/wall contractor dude today. He will be able to do his more focused/detailed inspection of the deck and associated wall tonight or tomorrow. I'll have to pay a rush fee for this short timeline, but this inspection and rush fee would be subtracted from his ultimate bill to fix it after closing.
Screen Shot 2021-03-12 at 3.11.15 PM.png


Note that drywall texture, painting, and the Trex for the deck aren't included in this quote. Going to confer with realtor of how much I should ask for as a concession, given that redoing the deck, per se, was always assumed.

When we do this I'll have the deck shored up to support a future hot tub.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
Going to confer with realtor of how much I should ask for as a concession, given that redoing the deck, per se, was always assumed.

When we do this I'll have the deck shored up to support a future hot tub.
Let's assume that the second bid comes in similar to the first, and I get, say, $25k in concessions and we close on 5/7 as per the current plan.

What's the best financial play to pay for this immediate deck repair (and upgrade while at it), given that the water intrusion forces my hand to do this now rather than a season or two out?

I'll have a fair chunk of money in my taxable account by closing, but I really don't want to touch that given the whole taking on large new monthly obligations aspect of this transaction. At 90% LTV on the new house there'll be no equity at all to tap.

I could do a HELOC on my Denver house as I'll be roughly 63% LTV on it, but wouldn't be able to deduct interest on it if the proceeds are used to improve the Tabernash house per my reading. (Yes, I still itemize/am over the standard deduction even as it is.) Maybe just a standard loan via Lightspeed or the like?


:semi monocle: Big obligations!
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
What'd really actually make sense would be to hire @TN for the month, if he knows construction...
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
Let's assume that the second bid comes in similar to the first, and I get, say, $25k in concessions and we close on 5/7 as per the current plan.

What's the best financial play to pay for this immediate deck repair (and upgrade while at it), given that the water intrusion forces my hand to do this now rather than a season or two out?
Related: if the structure of the deck is shored up (or verified to be adequate) with this rebuilding process, then this Vacasa program looks to be the best option for a hot tub. Effectively 12 month interest free financing. I was planning on going with them for management in any case, and if all it does is defer the cost for the year then so be it.

As someone who has searched for many a short term rental, I can confirm that the presence of a hot tub is a big plus for a listing.

 

jonKranked

Press Button, Receive Stupid
Nov 10, 2005
68,148
11,669
media blackout
Related: if the structure of the deck is shored up (or verified to be adequate) with this rebuilding process, then this Vacasa program looks to be the best option for a hot tub. Effectively 12 month interest free financing. I was planning on going with them for management in any case, and if all it does is defer the cost for the year then so be it.

As someone who has searched for many a short term rental, I can confirm that the presence of a hot tub is a big plus for a listing.

when we got out hot tub, we got it on black friday weekend deals. it was enough of a discount that it offset the installation cost
 

canadmos

Cake Tease
May 29, 2011
13,140
9,903
Canaderp
Related: if the structure of the deck is shored up (or verified to be adequate) with this rebuilding process, then this Vacasa program looks to be the best option for a hot tub. Effectively 12 month interest free financing. I was planning on going with them for management in any case, and if all it does is defer the cost for the year then so be it.

As someone who has searched for many a short term rental, I can confirm that the presence of a hot tub is a big plus for a listing.

Not trying to convince you to not and maybe it was an isolated incident, but the hot tub our group had via one VRBO was straight up nast.

Then after a week of 7-9 guys using it post biking, maybe spilling beer in it etc etc it could have been classified as a toxic waste pit.

I think @Dirtrider saw/smelled it. :rofl:

It was pretty obvious when we arrived that it wasn't exactly cared for by someone that knows hot tubs. Smelled like they tried kill it with chemicals.
 
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jonKranked

Press Button, Receive Stupid
Nov 10, 2005
68,148
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media blackout
Not trying to convince you to not and maybe it was an isolated incident, but the hot tub our group had a VRBO was straight up nast.

Then after a week of 7-9 guys using it post biking, maybe spilling beer in it etc etc it could have been classified as a toxic waste pit.

I think @Dirtrider saw/smelled it. :rofl:

It was pretty obvious when we arrived that it wasn't exactly cared for by someone that knows hot tubs. Smelled like they tried kill it with chemicals.
hot tubs are easy to take care of, but they get nasty quick without basic treatments under even moderate use.
 

Dirtrider

Turbo Monkey
May 2, 2006
1,185
1,407
Asheville, NC
Not trying to convince you to not and maybe it was an isolated incident, but the hot tub our group had via one VRBO was straight up nast.

Then after a week of 7-9 guys using it post biking, maybe spilling beer in it etc etc it could have been classified as a toxic waste pit.

I think @Dirtrider saw/smelled it. :rofl:

It was pretty obvious when we arrived that it wasn't exactly cared for by someone that knows hot tubs. Smelled like they tried kill it with chemicals.
I thought that was the septic tank.:blink:
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
Not trying to convince you to not and maybe it was an isolated incident, but the hot tub our group had via one VRBO was straight up nast.

Then after a week of 7-9 guys using it post biking, maybe spilling beer in it etc etc it could have been classified as a toxic waste pit.

I think @Dirtrider saw/smelled it. :rofl:

It was pretty obvious when we arrived that it wasn't exactly cared for by someone that knows hot tubs. Smelled like they tried kill it with chemicals.
Vacasa would handle the maintenance of said hot tub.
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
Second estimate is back and much more reasonable.

Screen Shot 2021-03-17 at 7.44.07 PM.png


I'd be ok with a concession of this $9,760 (new Trex at my expense).
 

Toshi

Harbinger of Doom
Oct 23, 2001
30,968
3,607
I'm not giving Bloomberg my email address to read about how tall trucks are. But I agree, they are caricatures now.
 

SkaredShtles

I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!
Sep 21, 2003
54,167
5,819
In a van.... down by the river