All Forum Posts by: Shawn M.

Is anyone concerned that if you are vacant 1 month you loose almost 2 years of cash flow?

@Ernesto Hernandez

separate leases is a disaster, then tenants only care about their room and the common rooms get neglected.

Plus I would check with your town to see if you can make it a rooming house which renting by rooms is. Then I’d worry about liability if a tenant didn’t get along with another. Having everyone on the same lease is more administrative work at times but saves a ton of liability.

@Jeremy Segermeister

ice cream sundae time

Cash flow (money in your pocket each month) is the ice cream

Everything else ( depreciation, debt pay down, deductions ) is the whip cream and cherry.

Can’t have a sundae without ice cream

@Irina Belkofer @Joe Splitrock, 

The point of the OP is talking about the concept of being a millionaire and how just being a millionaire on paper means nothing about your spending power and actual ability to have money. Thats why i'd rather have 15K/mo in cashflow than 3mm in net worth. 

@Shiloh Lundahl

Net worth is worthless, cash flow is wealth.

Does anybody have any advice on this? I take great care of my buildings and market them as per allergy free, and attract tenants that don’t like pets (smell, noise, etc. ). Now someone wants to move in with a therapy dog, this blows my whole market and screws over my current tenants. Can I deny the therapy animal. Are there any work arounds people have come up with?

@Dan Moore, @Wesley W.

FWIW, The drone I have is 3.7oz and cost $45 takes decent pictures. It's really easy to use and worth a shot if you're going to pay hundreds for a professional to take pictures so you can tell him where to plow the snow. 

Syma X5C-1 Explorers Quadcopter Drone with HD Camera

@Wesley W.

You can go on amazon and buy a drone with a camera for around $100 and take your own shots. Then have a new toy!

@Mike F.

The best answer is home improvement, add a bathroom, update the kitchen, redo the windows. Anything that increases the value of the asset securing the loan is a good answer.

@Laura Williams

Based on everything you’ve mentioned my first task would to verify that the elec is actually split between the first and second fl units. I’d imagine that the 1st fl is paying for some 2nd fl elec. it’s very common in older homes to not be isolated perfectly.