All Forum Posts by: Darlena Jones

Steamer.  And, BTW, I wish wallpaper would be made illegal.  Just saying.

I like the solution above - continue to pay rent until it's released.

A couple of knee-jerk reactions- how much money did she make in commissions?  If these 15 houses were all $10k homes then she would have made ~ $4500 in commissions (assuming a 50/50 split of 6% commissions).  That may not be enough to motivate her.

Have you thought about her an investment partner in the business?  That way, she's a little more motivated to work with you?

Just an FYI:  If you get your license, you'll need to hang that license with a broker for 2 years.  

Well, it might be illegal (depending on the type of student loan) and is unethical since student loans are to be used to pay for education.

http://www.investopedia.com/ask/answers/100314/it-...

BTW:  It's only the income that YOU realize.  If you're 50-50 partners then half of the rental income becomes your income less half of the expenses.

Yes you have to declare your rental income unless tax fraud is something you enjoying doing.  And, yes, you can apply all of your expenses (like management fees) against the income.  If you have more income than expenses, you have to pay taxes on that income.

It should go back to the mom.  She should be the one to transfer the deed to the daughter. Stay out of this one.

Cardinal rule - Don't bank on a property appreciating.

Well,  unfortunately, a 6% cash-on-cash is super low too.  Walk away...

Don't stress over this.  Life is too freakin' short.