All Forum Posts by: Account Closed

I have the same thought as @Sandeep S., "Bet more on the blip".  

Hi, I found a property built in 1959 in Las Vegas that I want to purchase. This is the first property built before 1978 that I'm interested in. No experience on lead based paint disclosure. I didn't have a lead based paint test on the building, and do not plan to do it, so I don't know if the building is lead based paint or not. When I rent it to a new tenant, beside the Brochure - EPA lead based paint pamphlet - Protect Your Family from Lead in your home, and the residential lead based paint addendum, Is there any other forms and documents that I need to give it to the new tenants about the house is built before 1978 and possibly lead based paint? Is there anything else that I need to pay attention on so I won't be violating the laws? Thank you for your input!

I agree with Charles Kennedy , I project my personal income expenses saving all the time, that's how I find out if I will be able to pay off the credit cards before the promotional period end.

I would say yes, go ahead to get the 0% interest rate credit card only if you are 100% certain that you can pay off the balance before the 0% interest rate expires. I have been using 0% interest rate credit cards to buy rentals for a few years. I love numbers. I love mathematics very much. I am always able to pay off the balance before the 0% interest rate expires, then get it (0% rate fund) again after paying it off. If you are not good at numbers, or if you are not sure if you can pay it off before the 0% rate expires, then this may not be something you want to do.

BS and MS in Mathematics.  I found myself fall in love with numbers since I was 10 years old.  

How I handle my previous case is, as long as the seller transfer the security deposit to me, I will transfer the security deposit credit to the new lease of the existing tenant, which means, the old tenants still have the security deposit credit with me. I'm the middle person, that the seller transfer the tenant security deposit to me, I keep the security deposit for now, but I will refund it to the existing tenant when they move out without damage in the property.

One of the stories my friend told me. His relative (the buyer) was under the contract buying a house in 2004. The seller backed out last minute. The buyer found an attorney to sue the seller. The buyer win the case; but then the seller files bankruptcy. The buyer spent a lot of time and $10,000.00 attorney fee to win the case but get nothing (zero dollars) from the seller due to seller's bankruptcy. Winning case, but losing time and $10k attorney fee... Sue or not, up to you...

I sold several properties with tenants occupied. If I could start it all over again, I would have chosen to vacant the property before selling it. 1. Tenants were not happy with the showings. 2. A lot of work to do the showing scheduling. 3. The most important thing is, lost the owner-occupied group of buyers. (The lease still have 8 more months left). Limited to investors only. I had a good offer from an owner-occupied buyer; but I had to turn them down because the property is available for investors only. Looks like owner-occupied buyer are willing to pay more money than investors. I might be able to make more profit if my property was available to all different type of buyers.

If your sister is unable to refinance under her name only, then there is "no other way" as I know.

I was in similar situation before. Like @Don said, the only way is to get your name out of the property by having your sister refinance the property under her name only.