All Forum Posts by: Bill Briscoe

I use it. I look at NPV, BTIRR, and BTCF/ATCF

Of course if you can manage to do a no money down or next to no money down rehab, or flip in <60 days, it really skews your IRR, so sometimes I just look at the sum of the ATCFs over a shortish time horizon (2-5 years) to determine if it makes sense to tie up my borrowing capacity.

Thanks. My tenant is already in the house and then filed a pet application to keep this dog for her son. How do we word a pet application rejection letter given that we are unwilling to accept any pit bulls or pitbull mixes?

FWIW, our base lease states no pets at all, but before we found out what kind of dog this was, we did verbally tell her that we would try to accommodate the situation if possible.

I'm not a dog expert, but it looks a lot like this:

http://en.wikipedia.org/wiki/Pit_bull

I am a partner in an LLC, one of our employee/owners was injured on the job. If the LLC pays for the medical treatment, or if a lawsuit is filed and settled, can the payment be deductible since it came out of an LLC?

The payment was not real large so from a worker's comp liability perspective, we are effectively self-insured for claims at this level.

It sounds high to me for laminate flooring, but I'm used to doing that myself. I would probably pay $1 ft for materials plus a few incidentals. And it depends on how much trim is being removed, doors to cut around etc. As total beginners, my wife and I did a square living room in a little over half a day.

Thanks. I've heard some people will charge a non-refundable cleaning fee as well as the pet deposit, since the chances are my next tenant will have dog allergies. How much should this be?

This is a 1700 sqft house with new carpet/tile and it rents for $1200.

(of course if she ends up buying the house from me, I'll credit the non-refundable fee to the down payment).

We just rented our remodeled 3/2/2 to a great tenant in November. She is interested in buying the property and is installing mini-blinds, gutters, and maybe a new dishwasher at her own expense. She should probably be able to qualify for a loan after her 2013 income tax return, as she has great cash flow but is self employed.

Anyway, her grown son is moving to another town, but can't take his dog for now. She wants to keep it for him for a few months. How should we work this out?

Its an 8 y/o dog, which she says should not be any problem...

Jon, I think the only downside is to the tenant, since you have the ability to withdraw at will from their account. However, this isn't really any different from giving paypal, your insurance company, or another merchant the ability to draft your account. Some people trust merchants to do drafts honestly, some don't.

But if you get tenants to agree to it, go for it. Sounds good to me. You certainly aren't the only business accepting payments that way.

Joe, why is every single post of yours encouraging us to move back to the last century? If I wanted to keep doing things that way I wouldn't need to ask advice here

Those of you who issue the deposit ATM cards, do they work for checks? How do the checks get endorsed?