All Forum Posts by: Jimmy S.

Thanks everyone for your input.

They have moved and I found this when we did the final walk through. My lease does state no pets but we did talk about IF they got a pet they would need to notify me first so I could approve it and would also need to pay pet rent, however they did not.

Property is in a very very good location and I was thinking about selling it. Its worth about 140,000

Hello

I have 3 bedroom doors that all look like this.  I used a wood marker and it seems to help out alot . How would you charge them for this? It will take me a long time to do 3 doors or should I get a estimate from someone else.  I dont mind doing it my self but im not doing it for free and not sure how to charge them.

thanks

My income is about 45k after they add back in everything for the year.

Right now my income is an issue. I cant even cash out my rental even though they have like 50% equity. The bank says I cannot afford to pay it back. My DTI is about 60% and not sure how they calculated it since im self employed also and that really complicated things.

I have a building lot I bought about 8 months and I ideally would like to 1031 exchange a rental into this new construction home and then convert it to a primary resident but not sure if that's possible..

I had a professional glass company come out and they said its hard to tell if its the inside or out.

Paid 70k for the house about 2 years ago and its worth about 135k now. It cash flows about 400 a month but its an old home. Figure I would owe about 15k in income taxes. Rent is $1000 a month.

Its very tempting to take the profit and I would not have to deal with tenants any more with that house or worry about repairs. I have 4 rentals now and looking to build my own house so could use the money. Figure if I can make 50k thats about 10 years of cashflow upfront. 

Tenant is been there 6 months and always on time. She called and told me when she got home the front entry glass pane was broken. I asked how it happened and she told me it was mabay because of old glass  Glass company says it was clearly hit with something you can see the impact point. She does have a dog and small child who plays in the living room.

Anyways its $120 to fix it. Would you eat it or take it out of her security deposit at the end or how would you handle it?

Thanks

How far do you let your tenants get behind in rent before filing a complaint with the courts and proceeding with eviction. Also do you have last months rent as well as security deposit or only security?

Also how much does it cost you in your county to file a complaint?  My county costs $160 if you do it yourself.

Every lender I have worked with about 20 of them will use your tax returns. ( I am self employed) They go by the bottom line on your tax return, your AGI and add back in mortgage interest and depreciation to calculate your yearly income.

If you have a property paid off but cant show the income to pay it back they wont loan you a penny, I am in the situation and its blows. I need to show more income.