All Forum Posts by: Karen O.

This has been in the works for more than 2 years.  

I have a HELOC, I tried to refi in early 2019. They said no then.

Unless you could you rent for $950 as is, have you considered what it would cost to make the unit ready for a $950 rental market?

I'd notify tenant of need for new annual or biannual lease that will include regular rental increases.  Then pursue with gradual upgrades that support the need for increases.  

Convert Rollover IRA to Roth 401k as soon as practicable. If necessary, small amounts every year til done.

Whenever possible, save in Roth IRA or Roth 401k.

An elderly friend owns an undeveloped parcel of land with timber not far from Charlotte.  She wants to get an appraisal of the land value with and without the timber.

Anyone have suggestions on who she should call to determine the value?  A timber company?A general RE appraiser?

 Thank you.

 Thank you.  

Is it customary for a property mgr to request a new tenant provide soc sec cards, birth certificates for all tenants on the lease along with recent tax returns & paystubs? 

Given issues around identity theft, the request seems excessive and intrusive.

I gave my suggestion.  You and others gave yours.  I think it's great that she's got options and can pick the one best for her. Or not.

Were I in your shoes with an alternative housing option, outstanding debts, and no crystal ball telling me the mkt will continue to appreciate, I'd sell it. 

Figure out what the planned improvements will add to today's FMV. If more than cost, decide if you have time to get updates done quickly. If not, sell as is while the mkt is hot.

Use the proceeds for debt payoff and current living expenses if necessary.  What you don't need, set aside for future investment. 

There will be opportunities in the future to buy another rental.