All Forum Posts by: Jesse Birdwell

Thanks for the insight my friends.

Hello all, hope someone can provide me with some intell. I am in a weird situation with one of my SFH Rental's in Tennessee. On July 1 I had a tenant move into the house. Meet her the Saturday she moved in and collected her 1st month rent and deposit of $1275. She asked if I could wait a day or so to cash it I said no problem at all. End of the week I deposited her check. The next Wednesday the bank called and informed me her check was written out of a closed account. I called tenant and she said I'm sorry I already got you a money order and mailed it. Another week goes by and of course no money order. She claims they lost it. Now we're on week 3 and of course I realize she's beating me around the bush. My question is this. And may be a dumb question at that but I have never had to evict anyone in 5 years of doing this. Is our signed lease agreement valid and binding being that initial funds were technically never colllected? If so what steps does anyone suggest I take to get this tenant out?

Yes I moved from it about 8  years ago. Thanks for the info that's what I needed to know.

Hello. Just looking for a little advice. IVe got a SFH I bought in college about 8 years ago. I purchased for $70k. After moving away I continued to rent it out and still do to this day but have recently decided to sell it to hopefully find a multi family property. My agent says the place is worth apx. $100,000. I owe about $35,000 in mortgage. So simply in my mind I stand to profit $30,000 based on paid price and selling price. Where does this leave me as far as taxes. Am I screwed no matter what? Or is there a way to not be taxed if I reinvest that money? Any help is appreciated. Thanks

thanks for the replies guys. Good insight. I had originally thought that getting rid of the debt was the smartest but like you all said, why kill your cash flow when the tenants are paying for it. 

Hello alll, just found bigger pockets recently and love it! I'm located in middle Tennessee in Nashville east to Knoxville. I am somewhat new to real estate investing. I have a couple buy and hold rentals under my belt and looking to add more. Look froward to networking with other like minded investors. I wish I knew such a community existed years ago. 

Hello all. New to bigger pockets. Pretty simple question, just looking for others ideas and opinions. In 2009 I bought a foreclosure, (my first), for around $65k, and lived in it as well as renting rooms to friends while we were in college. Upon moving I held the property and continued to rent it out. I cashflow roughly $350/month from the property and the mortgage is roughly half paid off. My question is how is this profit best used? Is it worth while to pay this extra cash onto the mortgage principal to payoff the debt off quickly? Stick cash in pocket? Reinvest into another rental property? Love to hear some ideas and opinions from others. Thanks for any help. 

Jesse