All Forum Posts by: Daren H.

Your problem should not be with the tenant, it should be with the painter! I am a believer that if you show people you don't care about basic details of your property, they won't care in return. Fix it and get off on the right foot. Dont even let the painter run an errand to even go pick up paint from now on. He/She cannot be trusted with paint, lol.  

This sounds a lot like trying to predict/time the market. I don't even look at the real estate market as a national housing market. I focus on my market conditions (my market being the market you are buying in) which could be doing things differently from other markets. Obviously, things like U.S Government policies and economic levers they pull have an impact and ripple effect (think about interest rates as an example). I can't tell you anything about what, when, or how to predict a crash. If I could, I probably wouldn't be on BP typing right now. I will say this, don't be fearful. Study your market, the trends, economic conditions, control what you can control. Wish I had more for you. 

You will have to honor the lease as long as they are complying with it until it expires. You should look at if the current rent pays for the property sufficiently at your current purchase price. In other words, is it a good deal at current rents. If it is, and will become a great deal later when rents are raised, then it might be worth seeing it through. I have bought properties with tenants and the deals were good enough for me to wait the tenant out. 

One thing to consider is making the transfer for seasoning purposes and credit score recovery. Your credit might take a hit depending on your total credit availability and usage and current score. On time payments, no further usage, and your score will rise over time. A long time ago I got caught up in the seasoning requirement and my credit score took a dip below 720 because I used my 0% credit card offer to fund a purchase. In about 30 - 60 days I was back in good shape. I learned going forward and it never happened again.  

I know nothing about your financial situation so take this with a grain of salt. If you are going to sell it in the next two years anyway, I would probably sell it now and take the gains tax free. This is just me personally. Life happens and you don't know that the situation will be in 2 years or if you will have the right options or market conditions available in 2 years that make sense (what if San Diego explodes even more). Not sure what you are shopping for in San Diego but it sort of feels like you might be swapping your equity and rate for a higher cost of living. But I would imagine you would experience even more appreciation. Plus, if being in San Diego is best for your life and happiness, then that's important too.

I will say this, there is one primary residence I wish we would have never sold despite the tax free gain. I regret it to this day. There is another that I am good with us selling and taking the gains tax free. Good luck in whatever decision you make. 

The baby momma, kids, husband, wife, other kids, and kitty cat all gotta go if the lease is broken (and I like kitty cats). Right now only the lease is broken. Sooner than later I could see your property being broken. I would stay out of the personal stuff. Its all unfortunate but this won't be the last tenant problem. If you go around taking on everyone's personal stuff you are going run away from this business. Just do it nicely, politely, and as professionally as possible. 

I would imagine your realtor can provide you with an extension form which probably is just a few pages that detail what is changing (rent, term, etc.). I don't think long term leases mean much. The fact of the matter is if someone wants to leave they will leave and if they don't want to pay you they won't pay you. We do a 1 year initial lease then we let it roll into month to month. If the tenant has a great history and is the one pushing the issue for their own security then we will re-up for 1 year. It hasn't been a problem that I am aware of. If the tenant has had some flaky moments, we just let it stay month to month. 

Let them go before its gets nasty. This Texas heat will make people do some strange things. What is the remedy long term? I don't see it getting any cooler in Texas summers. 

Having money and no physical health is like having a Lambo as your car and Scarlett Johnansson as your girl, but you are 100% blind. Personally, I would be good with the new Vette and Megan Thee Stallion. Anyway, you get my point. I have upped my gym work outs and started doing it first part of my day. It energizes me for the rest of the day. I recently lost 10 pounds. My next goal is better diet. Substitute the bad snacks with healthier snacks. Limit the fast food. Also cut my alcohol intake. I like a good beverage with sports. I have a 13 year old son who requires that I throw and catch the football or shoot hoops. He plays for his school. I have to be healthy and around to yell at him from from the sidelines or bleachers. 

I never understood why people worry about stuff so much that will happen long after they are dead. I think its kind of vain to be honest, lol. I care about what happens to my immediate family right now if I pass. I want them to be set up to move on with life without financial interruption, but there isn't much I can do after I am dead if they screw it all up. Furthermore, I am not thinking about my kids financial future when they are 50 freaking years old themselves. As I get older and my kids get older I will think less about them and more about grandkids, lol. I preach to my kids to take the wisdom and learn to eat what they kill and teach their kids the same. My family will benefit ultimately solely from me grinding for me and leaving assets. When I am gone, they can have whatever I have. But it isn't because I am sitting around worried about their financial future and grinding so I can take care of them in the future.