All Forum Posts by: Arthur D.

I have to register my single family property with the city and get a business license. I wonder should I put it under my wife's name or mine. Does it make a difference for tax purposes? I currently have a 9-5 and my wife is a home maker. We file taxes together. If I put it under her maybe she can have some kind of income history? Please device.

So I read from some of you guys that Rochester is up and coming great investment area. Overnight a 13-year-old and 16-year-old were shot in Rochester in separate incidents: whec.tv/1ZoYCot. That don't sound safe. Thanks just my 2cents.

Originally posted by @Alin Toncz:

This is a reply for all:

NPNs are non performing notes where a mortgagee failed to pay his mortgage for sometime. The note or mortgage holder that has had enough, puts the NPN up for sale on a servicer site: I'm using FCI Exchange. If the mortgage is for $50,000, the note holder will sell that mortgage note for a discount (many times for less that 50%). Now, I buy the NPN for let's say $20,000, I can use the servicer to do all the title & lien searches while I hire a home inspector to inspect the property. I can also use the FCI servicer to communicate with the mortgagee and either ask how much can the mortgage afford to pay a month. What I can do is restructure the payment with a lower interest to make it affordable for longer periods of time. If mortgage refuses to wot work with me, I can use the FCI servicer to initiate foreclosure, where I have to pay foreclosure costs. I can also offer the mortgage cash for key helping him avoid 7 years of bad credit & foreclosure costs for myself. Once they move out, I can rent it, sell it outright at lower market value or finance it to a new buyer. Hope this helps: I tried put it into words as I understood it explained by Eddie Speed

Got my first rental in 2015..

Want another in 2016..

Just wanted to update everyone. And to thank you all.

Got a town house, fixed it up, and rented.  (easton).

On my way to financial freedom...

I'm just concerned that it maybe hard or near impossible.to evict in the event of nonpayment.

I have a person who has a autistic child 12yrs. She a single mother has child support Ssd for her and child. She will have trust fund once she sells her mothers house of100k. Paid out monthly. She does not have section 8 as in not looking for tenants with section 8. Should I stay away from this kind of tenant?

Finally got it painted. Carpet coming at the end of month. Need to resolve some code issues. EXTERIOR IPMC 604.3 - The rear receptacle must have GFCI protection. LOWER LEVEL IPMC 704.2 - One smoke detector is required in the bedroom. IPMC 604.3 - Install a grounding jumper wire (bond) across the water meter. #8 copper. UPPER LEVEL IPMC 704.2 - Smoke detectors are required in the following areas: 1. One in each bedroom. 2. One outside the bedrooms IPMC 604.3 - GFCI protected receptacles are required in the following locations: 1. The receptacle to the right of the kitchen sink. 2. Bathroom The receptacle on the east wall of the front room tested as having reverse polarity. GARAGE IPMC 604.3 - The taped wire connections on the ceiling must be in a junction box. The receptacle must have GFCI protection. IPMC 703.1 - All openings and pipe penetrations in the ceiling and around the perimeter of the ceiling must be sealed with fire rated material. I find it hard to find someone to take care of these. So I'm looking for a handyman. I'm 100ml away. So it's hard to find someone dependable. Some guys take days to respond to text, emails or phone calls. It makes me feel like these guys don't need money. It's different in ny.

Thank you all for your input.

I'm getting my property painted in order to rent it. I left this painter I got for a week to paint. When I came back to pay him The job was half finished. The trim was not done, not painted completely around the ceiling lights, he painted the ceiling off white. Not to mention the half painted door. Needless to say I haven't payed him rest of money yet. He will come back to finish but I insisted on being there when he does. The property is 100 miles away from me. Thanks for reading I just felt like to vent a little.