All Forum Posts by: Drew S.

Another thing you could do/say is look at your insurance coverage and see if this breed is excluded, which i think it would be.  If that is the case you could be held liable if the dog attacked or killed someone on your premises.  

You need to tell them that their renters insurance must cover pit-bulls.  This is a reasonable accommodation under the ADA it is nondiscriminatory. 

@brandon hicks

Here's what you do.  We had someone with a large breed "service" dog apply.  Our standard is less than 50 lbs.  It is apparently pretty easy to get the paperwork people above are suggesting.  The gentleman who applied presented it to us and we said that it was not adequate, we need to have the Dr.'s name who "prescribed" the service animal.  He brought in another paper showing it was a service dog.  It didn't trace to any Dr.  so once again we told him we need the contact information of the Dr. who said he needed a service dog or he could not move in.  This was our policy for everyone who has a service dog.  He withdrew a couple days later and claimed he found somewhere else to live.

To some people service dogs are a huge help, it is to bad that people are taking advantage of the laws that have been put into place to allow these folks to have their service dogs.

Doesn't the lease have a month to month clause once it expires?  

Most TAA (Texas Apartment Association) leases have two key phrases.

[Paragraph] "...32. DEFAULT BY RESIDENT. You'll be in default if: (1) you don't pay rent or other amounts you owe on time...

...Eviction. if you default or holdover, we may end your right of occupancy by giving you a 24 hour notice to vacate,"

It is possible to w/d from your IRA penalty free for a first time home purchase. Although i think there is a limit of $10k.

If I restate your question as "Can I invest my IRA in real estate to increase my current cash flow?" It is possible if you are a qualified home buyer. There are exceptions to the penalties.

Here is the literature describing the exceptions to the 10% penalty from the IRS website.

http://www.irs.gov/taxtopics/tc557.html

To explain a little further...

So I suppose it is possible to withdraw money for your own house which would free up cash flow were you use it as a down payment if you don't already have it.  The savings on your mortgage will decrease your monthly mortgage expense thereby increasing your cash flow.   There are many rules that go along with this such as you must occupy the house for 5 yrs so I would probably  it until you consult a CPA who can look at the specifics of your financial circumstances.

Hope that helps.

I am new to BP as well.  While I am in a different stage of life than Kalifa,  I am a new investor and San Antonio native.  I too would be interested in learning more about finding foreclosures or good deals to turn into single family rentals.