All Forum Posts by: Raghu Kota

@Jean Bolger @Sharon Tzib : Thanks for the suggestions! I have left her emails and messages to call me back and discuss this further.. Still waiting to see where this leads..

@Jon A. @Raymond B. @Richard C. @Rafael Floresta @Jon Holdman @Marcia Maynard @Mike M. @Andrew Syrios : Now that I figured out how to use the "@" symbol (Thanks Raymond!) Thanks much, for all your responses. They have been incredibly useful and relieving.

Raghu

@ Mike , thanks . Code chapter 91 was helpful!!

@Marcia thanks for the advice.

@Jon H, Jon A : Thanks for your comments! : I heard back from Landlady.. Although she admitted that lease expires end of June, she still insists on us vacating by june 1st.. Says she already made plans for the house beyond that date (without giving any details , of course). I will see what she's willing to compensate.. I have a vacation planned with non refundable tickets at the end of the month.. I am concerned that if we don't reach an agreement, someone might show up and try to evict us when we are away on our vacation. Is that possible ? Any suggestions as to what I can do to prevent this ? Certainly looks like a "OO" got caught case. I just saw another postcard from the BoA today addressed to her and asking her to confirm occupancy.. Thanks again, for all the help!!

Thanks Rafael. She's is not responsive and out of state. Once she responds, I think I can negotiate a few things. But right now, she isn't responding at all.

Hi,

I am a resident of Texas. I have been a good tenant (openly acknowledged by my land lord) and on occasion, I have even helped her out by forwarding her critical mails etc. I can only guess that she is having trouble paying her mortgage, given how many times the bank sent a occupancy verification letter to our house, which I forwarded to her.

Now my landlord is trying to terminate our lease early (move out by june 1st , 2014 ) without giving me a reason as to why, which is 1 month before our current lease term expires (june 30th, 2014). It is just not feasible for my family to move out by that date. So far, she has been ignoring my calls/emails, which is increasing my concern. Last thing I want to happen is someone showing up on my doorstep on May 31st and asking me to vacate.

In case someone tries to force me out, what is the best way for me to get help without incurring expensive attorney fees ?

Thanks!

Rich Weese : Yep, well said! Thanks !

Dave Meyer : Not much. It is a basic lumpsum package of around 16k (includes tax assistance) . After I factor in cost to move my family of 4, find a temp stay and then rent at new location, not much remains..

Jon Holdman : Thanks for the detailed reply and objective advice. I am now more inclined to sell!

Hi all,
I am not an real estate investor, but do own a home in Fort Collins, Colorado area (2009 built; 3520 total ft2; 2350 finished ; full basement - unfinished). I have an out of state job offer and trying to decide whether to sell or rent out my house.

Preliminary sale estimate from my real estate agent suggests that it could sell for 315k, but with commissions (6%) and fees, I'd be left with $292k (3 k less than what I paid for the home : $295k). Also, house is in a great new neighborhood with excellent schools. So I am tempted to keep it for now and rent it out. It would also be a nice option to have a home back here in colorado, if the new job offer doesn't work out.

Having done my research, I believe I need to hire a property management company, since I will be out of state and there is no one to help here in Fort Collins.

With this back ground, could someone please help with the following questions :

1) Is renting out your home when living out of state a huge deal ? In terms of maintenance etc ?
2) What are the tax implications if I have rental income in Colorado but live in state that doesn't have state taxes ?
3) Any recommendations for a reputed property management company in Fort Collins-Loveland area ? I am reading mixed reviews for all of them online. Any recommendations on how to choose a property management company ?

4) I am not hard pressed for cash even if I don't sell my home. Is there any strong reason for me to sell my home rather than rent it out ?

Thanks Much,
Raghu