All Forum Posts by: Kristi K.

One reason is you don't have to pay capital gains in an IRA. You have to pay ordinary income taxes eventually when you withdraw but it makes a lot of sense until then in some markets.

We do our turnovers for less than $400 on average, the last one was there for 4 years and we turned it in 4 days for $400. Our tenants are responsible to leave the place in the same shape they rented it in, most do. I can't imagine paying someone one months rent to do a turnover for me. Maybe your market is different. Best of luck. 

We closed on the property today! The problem was the mortgage broker that my buyers were working with turned out to be a bad egg. He was fired from the company he was representing a couple of days before the closing date in December. I got the mortgage company I usually work with to take over and 7 weeks later, success!

Never hurts to ask. I never sell so my perspective is probably skewed anyways. Best of luck, I hope they accept your offer. It's a great way to start your real estate journey. 

This is just my perspective as an owner of rental properties. I would NOT take into consideration any rent that you have paid in the past. That rent was paid for a service.  Let's say you lease a car for 3 years, would you expect the car company to give your credit for those 3 years of lease payments when you decide to buy it at the end? Nope, doesn't work that way. Your offer of $260K on a house valued at $250K to $275K is a fair offer though. 

 😂 💯%

@Mica Moore  Excel and text is all you need, like @John Underwood mentioned already. Most of our houses only have one or two service calls a year and I just have them call the plumber or AC guy as needed (99% of my tenant problems fall under these 2 categories). Why would I pay someone 10% of my rents for two texts a year? We go in and change the AC filters every 3 months (and look around) so we know if we have any problems. 

   As for receiving rents, mine all deposit into a bank account that is named after each address, then on the 5th of each month the money is all scooped out of those accounts into my main account. This is "free" at my local bank because of the minimum deposit that I have in there. And I get a notice from the bank if the money isn't in there on the 5th when it is time to transfer so I know immediately to ask what's going on but to be honest, I haven't ever got that notice because of the screening process my realtor does!   

@Mike Schorah In Texas we use TREC form 39-8

@Zachary Bellinghausen Try Mark Martukovich with busy advisory.com. A lawyer that I know highly recommends him for SDIRA CPA stuff.