All Forum Posts by: Chinmay J.

@Nicole Clemens  - If this person is as crazy and manipulative as you are suggesting, then why aren't you using the court system to properly evict her.  Cash for Keys is fine if the person is someone with whom a deal can be negotiated so you are not going through long legal process. But if its someone who is manipulative and can get violent, I would use the proper legal channels. 

@Nicole Clemens - Our responses crossed. I didn't know she didn't have any ID. You posted whilst I was posting. I do like @Brie Schmidt's suggestion of getting the police involved - especially if she has some issues going on (mentally)

@Russell Bogan - I am sure I can find crazy enough people who might have done it. I am also sure I can find people who might have used their Amex to buy a car. Hey heartbroken Gump even ran across the country for three and half years.  Plenty of crazies out there.

@Nicole Clemens - Easy.. Get it notarized and add all others as @Dawn Anastasi suggested.  I would say best if you contact a RE attorney for the 2nd question. First one is easy

@Will Menard - Looks beautiful.. Great work.

I am using erentpayment. Works great. I get ACH deposit in about 3 days. Their interface is very much flexible and allows you to bear the transaction fee, or the tenant, or split it. I bear the transaction fee, but I am very strict about late payment. You are late by a day and you pay the late fee.  $36 a year is my expense per property ($3 per x 12 months). It definitely beats running around and collecting cash and then going to bank with thick wad of cash, or wondering if the check is going to bounce or clear.  Been there done that.  I plan on making erentpayment (or such electronic portal) part of my lease agreement going forward.

I have never used anything else, so I won't be able to provide with comparison of other software, but I like erentpayment and plan to keep it for foreseeable future.

@Pavlos Kasselouris - Were you able to rehab everything in your allotted budget or you went over your budget?

@Lisa Wood  - Megamillions jackpot is at almost $400 mill. Hopefully, you don't have Bryce Harper syndrome and that's good enough money for you. And the great news is it only costs $1.00. Go play it and then pray!. 

Actually, you should consider yourself fortunate. With get rick quick mentality, if you had any significant money you would end up losing all in "effort" to get rich quick.

Sorry, there isn't any other legal way other than save money, educate yourself, and invest wisely. 

Good Luck.

@Damon R. - Welcome to this great site from a fellow NoVa realtor/investor. I am fairly new to the site as well and there is wealth of information here on various aspects of REI. Make sure you check out the podcasts and read through different boards.

@Felipe A.  - Many congrats to you and your wife on arrival of the baby. 

I will let a financial expert address your first question, but on your 2nd question please bear in mind that condos are notorious for under appreciation in terms of equity. Condo market is a whole different animal. You need to understand what condominium ownership means. Its a form of ownership wherein you own common area as opposed to fee simple type of ownership. Please understand when you run your numbers you factor in typically HOA fee and CC (Condo Complex) fee.

Whether this is good deal for you or not, is something you need to decide yourself by running your numbers, but as far as appreciation, I would work with a qualified realtor to see for how much condos in that neighborhood were bought and sold for before you go ahead with the deal. Let some one run comps for you.