All Forum Posts by: John M.

I've noticed that some of the properties forsale in the neighborhood my rental is in have radon mitigation systems installed (2 units out of 10 forsale).

I'm curious what everyone else would do?
Should I worry about it?

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I'm new to renting, and this is one of the many small details I don't have the answer to.
It would be free for me to ask my renters to change the air filter in the furnace every month, but I'm skeptical they would do it.

What does everyone else do?
Is there a good trick, like maybe signing a HVAC contract with a major service provider, or something like that?

Thanks

Thanks everyone!
One more question. The lease agreement form I have as a place for everyones social security number. If I'm having them mail this back and forth to all of their parents for signature, is there any liability issues there?

Thanks! That's what I needed to know.
Now logistically, having the 4 kids sign it is easy since they're in school together. What about having the parents co-sign? Could I have the parents each sign a COPY of the lease? I'm just thinking if each parent had to sign the original copy, it would be difficult.

I was looking into it on google and I saw some pretty bad reviews.
I don't know...

I just got a townhouse in a college town where it usually rents to 4 kids at once. They all share the same electric, etc. It's just a normal townhouse with 4 bedrooms.

How should I do the lease? Should I have 1 lease that one person agrees to pay the full amount, or should I have 4 separate leases?

My fear with 4 separate leases is if/when one person leaves, the others have no incentive to replace him and I couldn't really force them to live with a random stranger that I pick out.

Any thoughts?

The debate is basically over 1% tax interest savings. The tax/money difference isn't worth worrying about. It's nothing.

To me, paying off my house quick made for a nice healthy goal to reach for. It made me save more with a tangible goal in sight.
Now that it's paid off, it opens up more options. Start a business. Build enough passive income to not work, etc.

I don't think there's a right or wrong approach. Some people like to smell the roses and live large. Die at 90 yrs old in a massive house with a $500,000 mortgage. Others would like their own home to be the smallest house they own.

To me, you can't be free if you have debt.

Good stuff. Thanks!

It's probably more sobering when you adjust for cost of living per state.
I would bet over half of that 6% live in states with high costs of living making the $100,000 not a TRUE $100,000.
AKA, making $100,000 in DC or NY is like making $70,000 in other states in terms of what it allows you to buy(standard of living).

I would bet, adjusted for cost of living, the number is closer to 2-3% make over $100,000/yr.

How do I determine that I'm the person who owns my LLC?

Sounds like a dumb question, but I had a lawyer set the LLC up for me, and I don't see my name anywhere. Should my name be on the Certificate of Organization or on some other document?

I'm just worried that I'll go and put all my money into a house that this LLC owns, and then find out that somehow I don't own the LLC!

Thanks