All Forum Posts by: Debbie W.

I agree with the competence responses and that dress codes aren't what they used to be. 30 years ago, tattoos were on military, prisoners or street thugs. Now it's all over. As long as someone doesn't have jailhouse tattoos and can do their job, I'm good with them. I had someone come for an apt once who had a tattoos of a gunpoint robbery on her thigh. Nope. Didn't feel good about it :-)).

I had 2 tenants that left the apt in such beautiful condition so the next tenant could move in the following day. I gave them the check upon them moving out. On the other hand, my cousin had a tenant that hadn't paid the utilities. He got stuck with their past due bills because the utilities would not turn them on again for the property. Follow the law and send as soon as you are sure everything is kosher.

@Byron Scott Congrats! That is wonderful. We all wish you the best of luck.  I listened and read for over 2 years and finally took a leap. I'm working on the next one already.  The mindset is the biggest challenge. I wanted to learn everything I could so I would minimize looking stupid lol. The people on Bigger Pockets are a fantastic resource. I love the meetups too. Do great!

Debbie

@John Morgan TY. Odd. Replying from my phone made me do 3 msgs. I must be missing something

@Natalie Kolodij TY

@Wayne Brooks TY

Will depreciation help minimize cost if SFR is break even or not cash flowing? I have 2 other rentals that cash flow. I have read everything and just can't seem to understand how the tax breaks apply. This home and 1 other are on Long Island in NY. The other is in FL.

Do the rentals affect the taxes I pay on my regular income? I don't work a job anymore. I retired and get a pension. I should probably find an accountant who can explain this to me lol.

Thanks in advance for anyone who tries to explain.

@Greg Gaudet

The woman who told me about the condo fire next door said her insurance took care of her unit immediately. The neighbor didn't have insurance or the money to fix so the stench comes through to hers

Just my 2 cents - I have a rental condo in FL. Most of the HOA's there did not allow a rental until after a year or two. Others allowed only 1 rental per year, even if you had to evict the tenant or they ran out or died. A friend found one that he wanted for personal use and noticed the place was underinsured. They also did not require each owner to have insurance so if the guy next to you had none and something occurred (like a woman we met who still couldn't live in hers because the guy next door had a kitchen fire and didn't have money to rehab) , you have no real recourse it seems.

Always ask to see the Board's financials. I looked at a cute 24 unit condo. The one I saw was nice and reasonably priced. I made an offer and got the Board rules and financials. THe Board had 6 units in arrears, 3 of which had the same owner. THey had no reserves. Ran away from that one.

Joesiann Cortez At least 6 people were at the original location. I don't know if there's a better way to notify but we knew nothing about the change. Once we all left for the day, none of us went on bigger pockets again. Is there some way to have it reach our email so we know in the future? I am interested in attending an auction before your suffolk presentation. Do you have any handouts or presentations that you were using or can I view the meeting as an archive? Thank you. Debbie