All Forum Posts by: Barri F.

@Ashish Acharya thank you for the info.  Looks like I will be washing dishes by hand until I move out.  *sigh*

I am moving out of my residence and will be renting it out.  The dishwasher died, and I'd like to be able to treat the replacement as a business expense and get the tax advantage.  I don't mind washing dishes by hand for a while, so at what point should I replace the dishwasher?  Do I need to wait until I physically move out?  Or can I do it once I advertise the unit for rent?  Or some other option?

Similarly, the unit needs some painting done and I'd like to know the best timing for that.

I wish I could make it down there for this meeting!  Any chance for a live stream?  Or possibly record the info session and post it later?  I am hoping to invest in OBX, and am very much interested in the 203k loan program.

They may be asking for the one year term versus M2M to try to avoid rent hikes.  I would give it to them, since they are good tenants.  Sixty days is more notice than you would get with M2M anyway.

Welcome, Dwayne!  There are lots of good people and lots of good info here.

I'm thinking about investing in the Winston-Salem area of NC, which is about a 5 hour drive away from me.  My brother and his family live there, and he would be willing to be my "boots on the ground" as far as keeping an eye on the property, doing minor handyman repairs, and coordinating contractors for any major repairs.

My question is what would be fair compensation for him?  Obviously, if he did any repair work himself he could invoice me for his time at an agreed-upon rate, and I would reimburse him for materials.  But I'm thinking also about offering a flat monthly fee for him to answer any tenant phone calls, drive by the property once in a while, etc. 

What are your thoughts?  I'm brand new to this, so all advice is appreciated.

Just throwing in my two cents about wage garnishments, since I handle those for my company.

Garnishment laws vary by state, but in general the court will send the order to the employer of record a week or two after the judgment date.  The order has a return date on it, usually 90-120 days out, when the next hearing will take place.

If the debtor still works for the employer, you're in luck, and the employer withholds 25% of disposable wages each pay period until either the debt is paid, or the return date arrives, whichever happens first.  At that point the employer sends a check to the court of everything that has been withheld to date.

After the second hearing, the court will give you whatever the employer was able to withhold, so it will be several months before you see any funds come back.  If the debtor still owes you more, you will have to re-file for a continued garnishment.  Wash, rinse, repeat.

Good luck, and let us know how things work out!

 Thanks, Gregg! Where and when?

Thanks for the welcomes, and all the great responses.  I will definitely be hitting you guys up for more information in the near future!

When and where is the CAZA meeting in Kingstowne?  And the Fairfax meeting?  I'd love to meet you all in person.

@Chris Seveney thanks for the welcome!  Are there any meetups in our area?

@Upen Patel thank you for the welcome, too!  I work in the Tyson's Corner area, just up the road from Vienna.