All Forum Posts by: Bryan Findlay

I have just bought a primary home in KUNA Idaho and also a rental property in Nampa Idaho.  I am going to be searching for the best but cheapest insurance company to use and would like some recommendations.  I am going to be new to Idaho and would appreciate any insights or guidance.  

Much appreciated on the views.  Now to learn how to go about the pay or quit, and unsure if personal hand service is required. I only mention this as my rental is a little over an hour away.  Thank you.

I own a rental in CA, and current tenants have lived there for about 3 months.  Rent is due on the first of each month. The lease states the rent is due on the first of each month and will be deemed late any time past.  There is a late fee charge per the lease.]

Tenant sent me  a text this morning (2nd) and said, "Just wanted to let you know, we deposited the rent, except we are $75 short on rent this month due to something unexpected that happened. We will pay the rest of the rent on Friday and the late fee."  

3 weeks ago for whatever it's worth, a neighbor called to inform me the tenants are partying and disturbing her peace.  She was advised of her options but nonetheless, I am seeing a pattern and want to nip it in the butt now.

With that said, should I do the 3 day pay or quit form that will also set the standard for future incidents?  Or do I acknowledge the tenant and document the incident and call it good assuming she pays the late fee?  I am looking for help on how to proceed. Thank you! 

Have a younger family that pays rent on time.  2 neighbors called me to make the complaint.  We have rented for 8 years and never a complaint. I spoke with the neighbor who said basically the tenants every weekend are partying but outside which is near her window.  It goes until 1 am or so loud music, voices, beer bottles breaking.  I familiarized myself with the city ordinance and have law enforcement experience but lacking the landlord side.  I decided to draft up a brief letter which basically was pointing out the complaint and a reminder to be mindful of other neighbors.  The tenants in response sent me a case law and penal code which states they can play music up unitl 11PM per some noise act.  I know this is untrue and their are violations but explained I didn't want to get into such debate unless necessary.  The follow up was tenants send me a message, "Net time they have an issue have them come to us....not you.  oh.....and by the way we are having a live band and birthday party next weekend so make sure to invite the neighbors.."  I documented the incident, explained to the neighbor to contact PD if her  piece is being disturbed which will get me a paper trail. What should I have done or am I going about this proper?

I apologize now for the confusion and I know there is "what ifs"  and  "it depends", but looking  looking for input involving "my" situation and leaning towards a 1031 exchange.

My situation: I own one rental home in California and my cash flow is approximately $550 monthly. I purchased the home 10 years ago $185,000. It's now worth approximately $310,000. Home is only 2 bedrooms, but needs updating and the condition is relatively fair to good. Regarding the 1031 exchange my choices "given my situation" moving to Idaho?.

We are moving from California and will be relocating for good in Meridian or Kuna Idaho (within the next 6-8 months). The money from the 1031 exchange property in California seems it would allow us to make some big decisions, and one important factor (for us) is the instant monthly cash flow (yes future is important also). Do we take the full amount from the rental and put it into 1 rental property in Idaho? We could have a new rental home in Idaho for $300,000 like a 3-4 bedroom home. Or do I use this situation and split it amongst a few rental properties per the rules of 1031. My fear with distributing the monies into several rentals  is knowing the mortgage will be higher monthly payment.  Should I even do the 1031 exchange on Cali property since the cash flow is good?

To make matters more complicated, our primary home in California we will also be selling and will profit approx $220,000. I want to keep our mortgage payment cheap as possible in Idaho and again, do I pour that full $250k amount into a new primary home in Idaho which will allow for a very low mortgage (looking to buy a home primary residence around $320,000). Or maybe dump like $150K into our new home and use the remaining to pick up another rental property or two? I apologize if my question is difficult to understand and I would appreciate any open minded thoughts.  Thank you in advance.