All Forum Posts by: Kaylan Field

@Karl B. Thank you!

So, I've got a few rental properties between two different states that I handle independently without the help of a property management company.  I put away X amount of money per house, per month for anything that may come up.  Is there a way to actually become your own property manager to be able to write it off on your taxes?  Considering I take all the phone calls, use my gas and time, buy tools if needed to fix the things I can and schedule contractors to do the things I can't?  I'd rather "pay" myself and get the tax write off than pay a company who may not be as "on top of things" as I am (I'm a very preventative maintenance/proactive landlord).  I'm a licensed real estate agent if that matters.  TIA. 

@Manas M. Tell them to contact their renters insurance for loss of food.

@Dustin Allen 

@Dustin Allen I am trying to find out who bought it, but I've also rumors that he may have a partner who might try to buy it, so I'm trying to get my ducks in a row to be able to make an offer and then try to work with him on building on it.  

Hi everyone.  I'm looking to get into a small development which I belive will be a big payoff.  I currently own 8 residential properties that I rent out, but have been itching to bump it up a little.  I found a nice piece of property for sale on 5 acres, on an allsports lake that currently has one old, small lake cottage on it and a pole barn.  A man just bought the 8 acres next to it and already has approval for splitting the property into 2 acre parcels, building 4 homes and putting in a private road.  I would like to put 3-4, 2 unit condos on the 5 acres I'm looking at and keep the cottage as an "office" type of building and the pole barn for maintenace.  However, I've been speaking with a couple of banks now and keep getting told that they're very hesitant to do developmental and/or construction loans at the moment and those projects that I see happening now, are likely either seller or private investor funded.  I really don't want to pass up lake front, buildable property.  I've got a bit of money to work with but I'd like to get a loan for a nice chunk.  Obviously, I'm an investor myself, but I need a wealthier investor, lol.  Where do I find a private investor?

@Logan Perkins. You’re welcome!

@Logan Perkins. If you can find one! Houses are going so fast and for top dollar right now. There’s also practically no rentals available either. If you can something that might need some work, get that done quickly, you’ll find tenants immediately. People are selling their houses because it’s such a sellers market right now but not been able to find new houses so there’s even more people looking to rent right now. 

@Kayla Jones

I’ve been using cozy for years for my rentals. Very easy to use and you can export spreadsheets directly from there as well.

@Nick Rutkowski I'll be living in it in the winters and renting it in the summers.  It's only a couple blocks from the oceanfront with the beach, restaurants, shopping etc.  We get a big tourist crowd in the summer and there's a lot of rentals down there, so I'm sure it will do good.  I just want to make sure it stays rented out all summer so someone else is paying for the mortgage and utilities while I make at least a little bit of money. 

@Sean Rooks That's great, thank you so much!