All Forum Posts by: John C.

Monthly Water, electric, gas and deposits for each.

Possibly flood insurance 

Possibly HOA dues

Landlord insurance 

Emergency fund

@Ken Nyczaj don't close on the deal until all tenants have been evicted and property inspected .

@Megan Barron In my area, PM is high, 100% of first month's rent and 20% thereafter.......always calculate high. Yes, I self manage, I currently don't want to give that income away.

@Maugno M. I just installed a colored metal roof, 40 year 'warranty'. Well worth the money, lack of maintenance, marketing and piece of mind. I don't have to touch it for 20 years. Basic maintenance, replace screws and caulking at 20 years. I have 3 buildings, 2 SFR and 1 duplex, all now have metal roof. I would put the metal roof up against regular shingles any day and any year....

@Carson Kesner If everything he is doing is legal.... I would put the money in escrow, make sure he understands it is not refundable, draw out his rent monthly and pay your quarterly taxes based on your in come from that. Don't spend the money incase you need it if he leaves early and your not paying a chunk of all that at once on your quarterly taxes. No one is going to take it from you. I would make sure you have monthly inspections of your rental and enforce lease violations as normal.

@Horacio Gutierrez Tell them you don't do business with friends or family.....easy as that.

@Brock Holliman $600 /year for insurance on a new $210k rental property ? My man, please send me your Brokers information.

@Patrick M. Rent it, explore the vent later IF you have problems. It sounds like you have a very common set up that the majority of households have.

@Dassi Lazar I send at least a card and try to remember birthdays. For all you Scrooge's out there, you don't get discounts for being a good customer, Vet, Contractor, at Home Depot, Lowes, your cellphone company, as a business, your internet, insurance, ect. ? Or do you just tell them charge me full price because I'm just a paying customer and I'm lucky to have you provided me a service? Are you taking that $25 deduction on your taxes but not actually spending it ?

@Jason Blasenak Use credit card service, square, bank, ect. Not everyone has a pay pal account. Pass the usage fee onto the customer, friend or family....