All Forum Posts by: JR T.

I'm curious how 15k to make needed repairs is unattainable but converting the property into a duplex is a potential solution.

Tell him he will waste a lot of money and time filing a lawsuit but if he wants to waste his time that's his decision. You'll likely have your court date after you move out date.

Advise him if he unlawfully withholds the damages you are going to sue him and then follow through and do it if he doesn't comply.

Once you have documentation of the rental income you're receiving on your tax return and an existing, performing lease agreement you can count that as part of your regular income and you will qualify for ever higher amounts of credit.

You will thank me if you keep with the local long enough to earn a pension check equal at least to the rent you receive on a unit. No expenses associated wth that. That pension is real life actual passive income, don't pass it by. 

Good luck with your investments.

They keep the late fee because they performed extra work to collect your rent and the late fee. There is no room in an 8% fee to cover doing extra anything. 

Just order the replacement remote and notify your landlord the good news about finding the remote. If he has issues when you turn it in at end of lease just act like that was the one he gave you. If he withholds a new garage door system from your security deposit don't despair - see a lawyer cause you're about to get paid.

"Private money" is supposed to come from people you already know so there are no such meetups. If you're marketing to private people looking to find a stranger to manage their money for them (my first indication they wouldn't have much to speak of) you're looking to market unregistered investment securities to unqualified investors and committing a lot of felonies along the way. 

If your own family and friends do not trust your "feel" for real estate enough to go in on a deal with you your chances of getting a stranger to invest are next to nil. If you're not asking your family because you're worried about your relationship if things don't go well your relationship will be strained you're trading positive vibes for a potential prison term.

I'd also make sure they're keeping the unit clean and sanitary. If not you might have to give them some life-skills coaching.

Of course it's not your problem. It's the tenant's responsibility to see that their rent is delivered to you by the first of the month. 

I'll note that some bank's billpay systems deduct the payment when they mail a check or on the expected date of payment delivery. This does not mean that the check has cleared just that the bank impounded the money. But not your problem, tenant owes the late fee and if they used bill pay their bank will refund it to them.

Are you trying to earn interest on the tax sales or wind up with real estate? 16

With the vast majority of decent tax sale properties getting redeemed if you want real estate my advice is to find out who the successful bidders were in a sale you're interested in from 2016's sale. Determine through court records the properties that have yet to redeem and see if you can strike  a deal with the certificate owner. 

Based on what was posted are you perhaps able to count the rental income from the occupied, performing side? I think that your funny lender friend may mean you can't place a tenant where you live today and count rent as income that has never before been collected during your time at the property.