All Forum Posts by: Jennifer Jacobs

@Virginia Hellen they are complaining about a house they bought 5 months ago? That is a very long time, anything can happen in 5 months. As a seller you are absolutely not responsible. I assume during their purchase they had their chance for a home inspection and they also inspected themselves. It is totally on them at this point, welcome to home ownership.

@Aaron Araujo yes, a HELOC was the idea coming in to this house. And, if it were in a different location....we would be doing that. But this city has grown tremendously, way too many people and too much traffic for us. I LOVE the house, but we have to move back out towards the country or we will go nuts. Lol My oldest just got his learners license, but I am scared to let him drive because as soon as you leave our subdivision you're on a major highway! Lol Thank you though, and good luck!

@Aaron Araujo My thoughts would be, do you have the capital available to continue to buy properties if you hold on to this one? If you need the cash to jump start bigger investing, by all means sell it. If you have the cash to continue investing while holding it, then hold it. You can always sell it later on if needed. I recently sold my first rental property to have the cash to buy the fixer I'm living in now. I do not want to sell this house, as it was my grandmother's and I love it, but I stand to gain roughly 90k when I sell which will fund the next deal. There is no right or wrong answer to your question, it is all a matter of opinion and what your plan is

@Jay Hinrichs well, here we have the FMLS and GAMLS which cover the state, then in my region I have Navica, which covers West Georgia and parts of Alabama and SC I believe. I am only licensed in GA, so those haven't helped me much. But oh yes, the fees. They do make their money of agents, don't they.

@Tom Smith I am a REALTOR in Georgia. We have MLS access to the entire state we are licensed in.

@Mitchell Smith I would contact the water plant personally and see exactly what has been affected, what their treatment plans are, and what the time line is. If the issue your tenant is having is truly from the water plant, there is nothing you can do about it. Enter the phase of the tenant should boil the water before you use it, or buy bottled water, and wait for the problem to be resolved. If the water plant says the problem is not from their issue, then you have bigger fish to fry.

@Tim Kaminski you can absolutely do it yourself via quickbooks, however there are extra deductions that you will probably miss if you do not know tax law.  My comment to the OP was because he was planning on renovating and re-renting, and there are tax breaks depending on when the remodeling is completed (at what stage the property is "in service") This was something I did not know with my first rental property, but am glad I know now.  You could always research the tax laws yourself, if you are good with that.  Good luck!

@PJ Kolnik what I haven't seen mentioned, find a CPA that deals with rental income. They can show you how to get the best use of the money you spend on repairs if the unit is vacant.

@Viktor Bokun yes you have to tag the person or they don't know you responded. type the @ then no space and begin typing their name. then chose them from the list that pops up.

@Ethan Castleberry I would think that there must be a way to apply for a new serial number, just as you could for a utility trailer or car. Have you looked into that possibility?