All Forum Posts by: Jane S.

Hi There,

At last I found a property that has CF potential. I'm getting interest rate quotes of 7.99, 6.99, 7.75, even 6.34 (conventional loan.) 805 credit score. no bankruptcies. Should I buy down points to help with cash flow? I'm also considering increasing the down payment to 35-40%.

The sellers installed a $50,000 solar system in January this year, then they listed the house for sale in June. It's been sitting for about 80 days. I have no experience with solar, sellers claim it will save est. $2400 per year. Has 25 year warranty. Dont know what it covers. The system has been approved by our regional building dept. It's not a storage system. That would add about $12000 to install. The sellers financed the solar purchase with a credit union and will be required to pay off the loan with proceeds from sale of house. I am trying to get statements from the sellers showing their utility bills prior to solar install and after the solar system went into operation, so I can use it as a marketing device.

They also spent about $35000.00 upgrading the property inside and out.

Also whats your opinion about buying the rate down?  Any one with solar system ecperence out there please contact me. Appreciate all your comments.

BRRR is the "best" strategy for me right now, since equities suck and renting is becoming very respectable. Ramit Sethi in his How to Get Rich Netflix series explains that renting offers flexibility and freedom from hazards of ownership (fire, flood, sewer backup, etc etc) and I see multiple posts on social media from people needing to fiind a rental ASAP. Thanks to Pete Harper for good brass tacks advice.

Big thankyou to Tim Miller's truth. The worst part of section 8 is getting in bed with the Housing Agencies you dont want them involved in your biz!

One of the interesting trends in rentals around here (Colorado Sprngs) is multi-generational. I have had several good tenant experiences with this (great grandkids!) and am planning to see a few recently built 4/3-4's with finished lower level in good family locations. There are many comps in each location so I need to be very careful with quality of the property. Up till now I've focused on older housing stock but the market for these doesnt give me the CF when interest rate sucks. Any opinions?

hello headache

the rabbit proofing you do will outlast many tenants. Its worth the cost and is a capital expense. Unless theres a way to trap them and rehome them elsewhere. Talk to an exterminator who is licensed for this size pest. Or a groundskeeper for a golf course? I have a population of rabbits on my primary property but I xeriscaped and have no lawn which is my preferred solution. Next time you turn over the rental get rid of the lawn.

thanks everyone I disqualified them. The wife said "he can call Amazon and make his job permanent." What planet is she living on?? Fed up with these fakers.

Has anyone rented to a warehouse associate at Amazon? Their offer letter says the job is temporary and at will. I've heard various negative feedback about working in an Amazon Warehouse at $16/hr. The offer letter is on Amazon letterhead but has several glaring spell errors and no signature of the supervisor. Wondering if its a fake.

thanks, Nathan, we had a very long talk 2 days ago that was super stressful to me but werent getting anywhere when I asked whats the solution. There was no answer. I have no idea whats law here except only 2 people per bedroom and there are 3 legal bedrooms (10 rm house). Have had squatters there before. Glad that mess is gone. 

The tenant decided on her own to call these family members "visitors". Without asking me. The lease is extremely clear they need written permission to make ANY changes, which adding overnighters is. I dont think that's accurate since they are there every weekend, and they told the dad to go away when I was scheduled to visit one saturday. Which is when I found out about the kids for the first time since they moved in. It would have been appropriate to introduce him to me. Dont you think? Tenant chose the word "visitor" not me. I dont know what to call them other than pests.

my tenants' son/grandson 24 y.o. stays at the house almost every weekend fri nite-sun nite with his 2 boys, 1 and 3 yo.

i just found out about it 6 months into lease when i discovered he's getting mail at the house because "his mailbox where he lives keeps getting broken into". 

tenant decided he's a "visitor" but i don't agree. Should he be on the lease? his place is "too small" to have the kids there with him. This is probably an exaggeration. Plus if he lives elsewhere he cant be on my lease. Plus I dont want him moving in with his kids and snarly exwife.

Tenants want to spend time with the boys. but they are living there  I have no idea where their "dad" sleeps. The house already has 5 permitted adults and a teen. plus baby supplies.

Unfortunately the lease doesn't specify how long or repeatedly relatives can couch surf. My painful learning.

They might leave peacably if I agreed to refund a certain p.c. of the security deposit. ON the other hand they might trash it.

Should I just man up and be happy to non renew their lease in a few months? I resent their using my asset to solve a non paying ****up's problems and making itmy problem.