All Forum Posts by: Ian K.

Not sure how to handle this situation...

We bought a house where the tenants are on a government program that pays their rent. They pay their rent for a certain period of time..the tenants must work..and can choose to stay/leave after the program stops paying the rent.

I just checked with the water company and there is a 600$ past due bill. It is about to be shut off. It hasn't been paid since October (about the time we bought it).

I called the program and they said the tenants were paying it before..then the case manager said they shouldn't have been paying it b/c it's a duplex and they can't tell whos using what.

I really don't know how to handle this as the water is about to be shut off.

Not sure how to handle this situation...

We bought a house where the tenants are on a government program that pays their rent.  They pay their rent for a certain period of time..the tenants must work..and can choose to stay/leave after the program stops paying the rent.

I just checked with the water company and there is a 600$ past due bill.  It is about to be shut off.  It hasn't been paid since October (about the time we bought it).

I called the program and they said the tenants were paying it before..then the case manager said they shouldn't have been paying it b/c it's a duplex and they can't tell whos using what.

I really don't know how to handle this as the water is about to be shut off.

I am real estate investor in the midwest..I currently own 10 properties/17 units.

I was talking with my uncle today(he owns 150 units) about taking our show on the road to Texas.

We like investing in the midwest because the price to rent ratio is so favorable here.

But it seems like a lot of Texas cities aren't bad in that area either.

What are some growing areas in Texas? What are some areas with good price to rent ratios?

A quick google search showed El Paso and San Antonio as having good price to rent ratios.

I'm in a discussion with my business partner about a deal he's doing upstate NY and whether it's a good deal or not. So I am looking for others opinions.

It's futuristic looking house in the middle of the woods upstate. Will be used primarily thru AirBnB bookings.

The management company thinks they can rent it out for 1k a night.

Mortgage and Taxes will be about 78k a year or 6500 a month.

I have no experience with airbnb or these type of vacation rentals...but it seems risky to me, any insight?

I own 40% of 8 properties in Ohio. My partner offered to buy me out of our LLC at 155k. I'm just wondering how that will be taxed?

I am currently staying in one of my duplexes. 

I've noticed on two occassions when then downstairs tenant has an issue with me, there is dog feces waiting for me when I step out of my vehicle.

I placed a letter on the door stating to pick up the dog shi* in a timely manner please.

She places a letter on my door showing a 150$ bill for a snow plowing and said you are welcome to reimburse me or take this off my rent..

I'm not sure the rules for Akron, OH but I read for Ohio that the tenant is responsible for snow plow.  I do not have it in writing in lease.  Also, I'm not sure how to handle the tenant places dog feces in a retaliatory way. 

Are there any resources to find houses under 500k to finance besides the MLS?

We don't have enough cash to buy them right now, however my friend makes $1mil a year and has good credit so we can finance...

I'm just not sure where to find such deals besides searching the MLS day and night

I read online its for 4 units or more that is the case...IDK how accurate that is?

 I told the girl, we can put up another door for extra security for tenants to have access. She said "NO i wanted that apartment for the extra space!!!" ...

So what do I do, move the breaker somewhere else? 

Yes the basement is unfinished and just an area for storage...its still part of the unit 1, but it's blocked off by a locked kitchen door.  

I know it was a bad idea, I make awful decisions all the time lol.  But like the 2nd floor tenant had a background check, she works for the county courts.  It's the middle of winter, they need their electric to be on...if it goes off at 5am, I don't wake up til 11 am...the 1st floor is out of town often....like what do i do?  I've been actively trying to fix it w electricians coming over and trying things...

But thank you.