All Forum Posts by: Adam Azam

When you are ready to retire, when you have negative cash flow or it becomes more stress than it is worth. If it has a large amount of equity created by appreciation and principal pay down that can not be removed and still produce positive cash flow it's time to sell. When a property is not positive with maximum leverage it means your own cash is the only thing generating income. You want the property not your cash generating income.

@John Underwood Thanks! I'd probably take this opportunity to change the terms of the lease. Increase the late fees or if late for 3x will result a 30 days notice to move.

Some companies will only re-treat for termites for this annual policy amount, and inspect only once per year. If they are not inspecting at least twice per year for termites - I would question it. Also- read the warranty policy. It will explain if they cover for repairs to the home as well. If there were termites there previously, and you stop the annual payments ( I average $135/year), you run the risk of termites again, and will have to repair as well as new service. It pays to continue it - especially if they were there previously.

I have a tenant who isn't a good tenant but not heinously bad. I have to badger her for the rent every month, but she does eventually pay. She moved her family member into the house. They smoke in the home (against the lease). They've added two dogs (against the lease). There's some damage to walls and at least one door.

Their lease is up at the end of January. Real estate is tight right now for both sales and rentals. I don't think it will be easy for them to find another place. With covid, I don't want to put people on the street but I'm honestly tired of dealing with these people and I worry about the condition of the house if I let them stay too long.

What would you do?

Depends on the state, but month to month contracts are usually just that, month to month. The landlord can raise rent for the next month (depending on local laws), and if you don't like it, you can find rent elsewhere.

Month to month leases are generally expensive because there is no certainty on either side.

My impression is that if someone is looking for a furnished room, the lack of a bed would be a con. People generally want furnished because they're here temporarily, so they don't have to buy things/move them/have to deal with them when they leave. You can live without a dresser or a desk, but a bed is kind of an essential.

Capital One 360. No fees. Mobile deposits. Zelle instant transfers too. Can quickly add external accounts as well.

We've used these wall heaters in our smallest (under 900 square feet) house. Attached them with star screws so they wouldn't walk when tenants left. I know I live in the south but this house is old, old, old with high ceilings so likely lousy insulation. Still did the job in bedrooms and living room.

This. This. This.

You need to shut off your power. Get access to your circuit breaker, turn all of your circuits off. and be ready for ine of the other units to suddenly complain that their power is off.

Several similar posts on here lately and this method seemz effective.

Depends on the tenants. If they are solid, I give them 50 to 100 off December rent. If they are less than ideal, nada.