All Forum Posts by: Adam Widder

Hi all, we house hack a triplex currently. So we've had expenses for repairs, maintenance and improvements. As I do my accounting for these expenses to keep track of them, how do you divide the receipts? Currently I seperate by house expenses, my unit expenses, and other unit expenses.
Is there any reason to track what I spend on my unit for tax purposes?

Should I save receipts? If so, how long?

Thank you!

Update, we did a house hack, for the loan we used, the underwriter had to a have end in tenancy notice from the current owner to process the loan!

I think average snowfall in cities is around 60. last year it was 90... Think of it this way, contractor would be more willing to sign a long term contract on snow for a flat rate because the average snow fall over a period of 3 years will be average. but if you sign a 1 year contract, the contractor will want per event because now its risky if it doesn't snow a lot, they lose money. for you, it works out if you contract per event and it never snows, but if you do a flat rate and it doesnt snow you lose money. So I'd aim for a long term contract 3+ years on flat rate, steady numbers you can project into your cashflow as well.

I've also heard sunrise. Flagship bank advertises on their site they do small MFR loaning.

Call the city to say what they say about the zoning. Im sure the whole city will be getting revamped zoning, so just calling and hearing their thoughts will give you clear moves ahead.

Thanks all! Appreciate the comments!

Hey all, what is the proper way to remove a tenant in order to occupy a small MFR property?

Example, we're using a FHA loan, we find a fully occupied property that meets our criteria and we want to live in the MFR. How would I go about removing the tenant so we can move in? Can this be arranged on the contract or can I do it once we have, cash for keys etc. My concern is if I do it once the property is in my name under an FHA loan, the tenant may not want to move, then I'm stuck not occupying the property. Thanks in advance all!

BP, I'm transitioning from Active Duty military and doing some career exploration. I'd like to talk to some of you who are in a CRE firm either as a broker or other roles.

Specifically career progression, where to start, lifestyle... etc Thanks!

How do you go about being an owner and neighbor? Do you tell them you're the property manager for a group of owners? Like they know who they're paying, unless a third party app handles that.

If it's in a rental, I would not anticipate a renter having the where with all to preserve the counters. most likely your pm would do it or who ever you have turn over the properties in between leases. if its similar to granite, just get granite.