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All Forum Posts by: Lakshay G.

Lakshay G. has started 35 posts and replied 143 times.

Post: Overcoming the Idea That Paying Off Mortgages Is A Good Idea

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20
So do you see that you’re paying more money in taxes than interest?yes, paying taxes is money out of your pocket, but isn’t paying interest worse?

Originally posted by @Patrick M.:

Any time you feel like paying off an investment property is a good thing just sit down and go through your tax return.

It is a horrible idea.

Too many new landlords and "new age" landlords blur the lines between their personal and professional interests. From cancelling rent to providing free massages every week to off set the stresses of being a tenant. This is right up there. Milk the crap out of that asset in a responsible way.

Post: Finally quit my J.O.B.! After 7 years of investing!

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Congratulations Pancham. Godspeed. I will be in your shoes in 5 to 7 years. All the best...

Post: Small Multifamily Investing Location

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Maryland multi family market is not good my friend. Just sharing an area that is NOT as good as compared to others. 

Post: Do I need to ask my tenants for any additional coverage for pets?

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Thank you Taylor for replying. Let me rephrase dear. Here's a scenario. A person gets bit by their dog on my property. Legally, I'm liable as well as the tenants. What's the best way to protect myself from this? Am I thinking too much? 

Post: Do I need to ask my tenants for any additional coverage for pets?

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Hello, 

I am getting a tenant with a pet for the first time. What should I ask for regarding a pet coverage in their renters insurance policy? I don't know the "proper' words to ask them to get and what amount? I ask for $100,000 but not sure regarding the pet part. Any suggestions? 

If I'm thinking too much, let me know as well :)

Thank you

Post: Grass cutting not in lease - what can I do?

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

It's funny I came across this topic. Sorry, not funny at all actually. I'm kind of in same situation as you are. The tenants in Brooklyn Park don't cut the grass on time. They have a lawn mower but they don't cut it in a timely manner. So, they're leaving next month but that's the only problem I had with them in the past. Other than that, they were great tenants. In my next lease, I'm going to mention that if the lawn doesn't look neat (5 inches or more of grass), I will inform them to cut it within 2 days or I will have the grass cut and add the bill on their next monthly rent. Now, it's a different story whether they pay me or not, I'm damn sure it will be a conflict for sure. 

Another fact is, which I learned from another experienced investor that you can have a 100 page lease and write down all kinds of fancy points BUT there's only a handful topics that actually will be legible if the case goes to the court. Yes, the fancy long lease will help up to a certain degree to enforce your rules on the tenant but it depends person to person. Do let us know how to resolved this please. 

Wish you the best @Morgan Biggerstaff

Post: HIT MY GOAL OF 100 UNITS!!

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Congratulations buddy. Some people I’m sure will say or think that you got lucky that you knew an investor and he/she helped you. But they won’t see your hard work and sweat that you put in to achieve your success. God Bless.

Post: Voucher Question in Baltimore Area.

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Thank you for you reply Ned. 

Post: Voucher Question in Baltimore Area.

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Thank you Michael for the detailed answer. Although you aren’t in MD, still you took time to write out an answer. I really appreciate it

Post: Voucher Question in Baltimore Area.

Lakshay G.Posted
  • Small Business Owner
  • Fallston, MD
  • Posts 145
  • Votes 20

Okay. Thanks Bryan. Let’s see  if somebody else joins this forum. 

 And as far as the rental amount goes, I don’t see how that’s discriminating because it’s not bad the tenant cares how much the government is paying the landlord, because the difference is not going in her pocket.If somebody should have a problem with this, it may be the government.