All Forum Posts by: Irina Belkofer

4mm is the problem. It's like floors covered with cardboard .....looking good on the pictures - flips only.

I used Allure but it's not holding water as expected. Trying now 12mm but also as an experiment

Nothing is Tenant proof but tile.....and we don't tile floors in Ohio except of kitchen, baths and entry 

Some staging to off set neutral color - seasonal something....right now maybe Easter basket or red decoration? Just one accent

We don't discriminate against the source of income - it's illegal but we can choose to work with these tenants or not.

There is extra inspection every year, there are other inconveniences.

If it's a protected class in their city or county - you can't mention in your add but you can set up your criteria, for example, amount if income.

I have 3-4 rents income requirement depending on the credit. If FICO is less than 600, they must make more than 4 rents, which is in conflict with their requirements to qualify for subsidized housing.

If there will be a discrimination to reject Sec.8 Tenants, I'll make my criteria 4 rents income if FICO less than 680. 

Besides, I can offset that risk with requiring first and last month Rent in addition to security deposit.

Only Tenants who can submit security deposit and all rent money can sign the lease. Sec.8 Tenants can't  - they have to wait for the housing authority to be approved.

BTW, I never discriminate against a source of income. This is not about source of their income but much more than just income.

Not renting to Sec.8 Tenants is not discrimination - they are not protected class.

Pre qualification as drug free is not enough to get you a good Tenant - they all drug free.

The main reason is that people have huge sense of entitlement: changing light bulbs is on you because government pays you!

You're a crook in their opinion because you own a house and they would never afford it. 

I know personally quite few Sec.8 Tenants who drive nice cars (Lexus, Jeep Wrangler), take vacations, enjoy shopping in high end malls......they work for cash and have free health care, food stamps and Sec.8 Housing.

These are not legal reasons but that's not what I believe I should do. I do take chances on barely qualified Tenants sometimes, to let them get back on their feet, single moms etc......Sec.8 Tenants won't have my compassion. 

Not because they are poor but because they already using the system.....they don't need my help.

 Citi, BofA and US Bank don't report business cards to personal credit.

Don't have business CapitalOne and Discover but good to know. Thank you!

 Set up special checking account, connected to your business account, give them acc # and they will deposit Rent in a branch. I choose banks which have branches in grocery stores - they are open late and 7 days/week.

@David Barnett that's what I thought: mortgage is $150K plus $40K in improvements (HELOC?) - the mortgage alone might eat that Rent....and then there are taxes, insurance, maintenance (OOS - paying contractors).

Definitely, Rent won't make sense - sell it!

@Darius Kellar do you think $250K house in suburbs on Minneapolis is a low income housing?

How does it help to decide if he should rent or sell it? 

On the subject: once these expensive improvements were done, it's better to sell without capital gain and recapture depreciation. Rent $1200-1400 won't bring much cash flow on $250K property, it's better to cash out the equity

 That was my guess :))

I was really puzzled - you're usually very considerate about landlording 

 One landlord got killed because he knocks on his Tenants door.

If you get as far as an eviction, let the sheriff to handle that. 

No need to gloat - just be human