All Forum Posts by: Willow Loney

I'd really like to know what folks say to this too. I am paying someone to manage my duplex but I have 4 other SFH I rent out. I'd like to take advantage of the tax benefit too. I was thinking I may need to start another LLC? I'd it that simple?

I've been thinking about starting a property management company but just to manage my own properties.  If it's a separate entity I could expense it and reduce my tax burden.   I'm just starting to think about this and see how to go about it or if it's even legal.  

Decided to put him on the lease. Going to run a full background check anyway just so we know all the details. They are going to pay a fee for the background check and to get him added. Thanks for all the advice!

She pays all the rent right now. Her mother only works part time. I'm not sure the husband even has a job. He typically watches the kids while she is at work.

I feel like he is going to end up sleeping there at times anyway. If he's not on the lease and ends up staying too long I have reason to evict or end the lease. But if I put him on the lease then I am stuck with him. When they signed I stressed no more people moving in. No boyfriends moving in. It is not that big of a place and I don't really want that kind of stress on the house. Plus the extra noise could be bothering the other tenants in the duplex.

I'm kind of thinking that maybe I can just find a bigger place to put all of them. I would actually like to buy a 3/2 that might work better. Does that sound crazy?

So I rented my duplex to a newly divorced mom with two kids and her mother. We are six weeks in to a one year lease. The girl told me that she was recently divorced. Now she says they were just separated for a trial and are considering getting back together. She asked me if I would add her (ex?)husband on to the lease. When I said we would run a background check she informed me that he has had three prior felons - fleeing an officer, third degree assault and third degree burglary. All were more than 10 years ago before they were together and he has not had any more offenses since. He has been off probation for seven years.

I am concerned about his priors but understand they were a long time ago and people change. Also I am not happy about the potential extra wear and tear on the house. But I can't see keeping a family apart, besides he is there a lot during the day watching their kids anyway.

What should I do?

I was the highest bid on a Hubzu auction but did not meet the reserve. I still want to negotiate but they seem to only come back with the reserve price which is a bit over my budget for significant cash flow given that I haven't even seen the inside of the home. Any tips on how to negotiate with these folks?

Thank you thank you thank you everyone! I never expected this kind of great advice. I really appreciate all the help!

Ok I checked out the city's code and turns out "it is unlawful to park or store any inoperable motor vehicle on private property" unless it is in a garage or lawfully erected building. So I guess it is a city code violation. . .

I talked to the owner a few minutes ago she said that car is licensed and registered and will be fully operational once she gets the tire fixed. I told her it needs to be fixed as soon as possible. She said she can have it done within a month. I'd love to say she needs it fixed in three days but I guess I am ok with a month considering we don't have anything specific about operational vehicles on the property.

@Jon Holdman what does IMHO mean?

Thanks everyone. I think I need to strengthen my lease in the future. Lesson learned there.

@Jon Holdman: To clarify on the designated parking spot. The house is a duplex and we built a brick parking spot for each tenant off the alleyway. It is pretty much out of site from the road, but can be clearly seen by everyone who uses the alley. The other tenant (who has been there for about 3 years) was concerned because it had out of state plates and the missing wheel etc. and was the one who originally brought it up and got me thinking. . . .

I don't want to be judgmental about what people drive either, believe me I drive a 1997 Buick LeSabre that I bought from my grandma with 75,000 miles on it. The bottom is all rusty too.

When I talked to the car owner she said she was trying to save money to fix the tire. I'm pretty sure that we don't have a case in court. I doubt there are any ordinances on this but I can do some digging. And @K. Marie Poe. You are correct, I was worried about creating "house rules" after the fact. Hence my posting here to get some advice. I do hope that I can just go on faith that it will get taken care of. They just moved in and I want to be nice but firm so they don't try to get away with anything in the future . . .I also want everyone to just get along. Perhaps I am a bit idealistic that way!