All Forum Posts by: Dianne Forwood

Have not invested but just make sure you understand your risks of secured vs unsecured as honestly tired of listening people complain about getting screwed when they invest in unsecured debt and are like “oh I didn’t know”…

https://www.sec.gov/Archives/edgar/data/1831623/000117152023000262/eps10909.htm

The Notes are unsecured and holders of the Notes do not have a security interest in the real estate loans or the proceeds of the real estate loans. The recovery, if any, of a holder on a Note may be substantially delayed and substantially less than the principal and interest due and to become due on the Note. If we were to become subject to a bankruptcy or similar proceeding, the recovery, if any, of a holder of a Note may be substantially delayed in time and may be substantially less in amount than the principal and interest due and to become due on the Note.

Their website says these are first lien notes. Why do you say this is unsecured?

0 Votes

We just moved to take care of my elderly parents. We now have our old home for a rental. Currently my nephew is living in it, and it's not ready for "real" renters yet. But, I am finding I have such an emotional attachment to this house we lived in for 27 years, raised our children. The turn of events in moving and caring for older parents happened quickly. When we first moved out in October my mind set was we will probably move back. Now my husband says he doesn't want to. So, we still have personal items in our basement and garage that we need to clean out before renter ready, along with painting etc. Plus little things like my windchimes and park bench. I still feel like it's my personal home.

My question is, has anyone else experienced this emotional attachment to a prior house? Any suggestions for moving on?

Also, at what point do we consider this a rental versus a second home? We settled 10/25, moved 10/29. Nephew did not move in until 1/6/24.

2 Votes

Philadelphia, Pennsylvania

Quote from @Tony L.:

I've been managing up to 50 units using Quicken Home & Business for the past 15 years or so, and haven't had any problems. I've looked at Quicken Property Manager and didn't like it - was not very user-friendly and didn't seem to offer any real advantages over basic Quicken.

With only one property, I'd keep the Quicken you have now. Just make sure to properly set up the accounts that you will need to track your property. From my experience, people usually do a fine job with revenues and expenses, but mess up the accounting for assets and liabilities.

0 Votes

My husband and I recently moved to take care of my elderly parents. We still have our old house and rent it to my nephew, short-term. We want to keep it as a rental, but we need a property manager and guidance. Is this website only for those looking to expand their portfolio? We are just looking to manage the one property we have. We are not currently aspiring to obtain more. Where can we find guidance on managing the property we already have? Thank yhou.

0 Votes

Philadelphia, Pennsylvania

All Forum Posts by: Dianne Forwood

Dianne Forwood has started 2 posts and replied 5 times.

Post: Private Lending with ConnectInvest

Post: Private Lending with ConnectInvest

Post: Emotional attachment to prior personal home

Post: Quicken Home & Business vs Quicken Rental Property

Post: New landlord needing guidance