All Forum Posts by: Lucio Palanca

@Steve Vaughan thsnk you for that information. I lost my connection to bigger pockets . I am connected specially with the new app

Hello everyone, I am really a newbie at this and currently have one SFR and am syndicated with a partner with other properties in Indiana. We recently had a violent storm hitting our area and I received a call from my property manager regarding a complaint from my neighbor. He claims that a portion of a branch landed on his roof causing it to leak. The tree in question is a very large tree that I have trimmed sometime last year. It is a living and thriving tree that has been around for quite some time. I asked my insurance company to see if they covered such damage and he told me that this was not something that I was responsible for as it was an act of God. He even added that this is a well known fact among insurance companies and suggested that my neighbor contact his own insurance company. Does anyone have any experience on this? Hoping for some good advice

lg

As most would agree, our economy has not been the best it's ever been. Rising gas prices, rising interest rates, and a high probability of a recession has made things a little harder to bear. Nevertheless, people would still need a place to stay, and if they could not afford to buy a home, they more likely would have to rent one. I currently have one SFR with a renter regularly paying till his lease expires in April of next year. To ensure myself of a regular renter, I was thinking of sending him a note to revise the lease. I would offer him that I would not increase his rent so as long as he contracts to stay for at least 2 years more. I believe by doing this, I would assure him that his rent price and location is secure and in turn it would assure me of continued rent payment. What's everyone's opinion on this.

 Thank you for this.  I am very new to this and it seems easier with a template

Hello everyone, I was wondering what people use to record income and expenses.  I wanted to use excel but I was looking for a template.  Can anyone point me in the right direction or is there another way to do this?   Appreciate all the help

I usually dont place appreciation in the mix of my calculations.  I consider appreciation as a bonus for the whole endeavor.  What's important is the current cash flow.  I dont have a timeline of 20 years as Ill be in my 80's by then and at that age, I'd be happy to just be alive

What I forgot in the calculations, is adjust the rental income and make it times 2, since it is after all a duplex.  That should boost the numbers . Ill plug in new numbers in the calculator and see whta I get.  

I just plugged in these numbers based on the numbers adviced by the calculator that bigger pockets offers.  I realize that I have a negative cash flow, but I am posting this to see if I made a mistake in my calculations