All Forum Posts by: Marcee Stephenson

 Are you still looking for a window company?  I have a great one.  Message me for their information.

Thank you for all the replies.  I'll check into Stessa and a couple others mentioned.  

I have used Quickbooks desktop pro for 5+ years and have been happy with it.  They now charge an annual subscription even for desktop versions.  Anyone use Quickbooks online?  Or are there other expense tracking software that you are using?  

Wayne, thank you for your response.  That was my thought, but wanted to clarify.

Selling a flip and the Buyer wants us to cover $7,000 in closing costs.  Is that $7,000 deductible on my 2023 taxes?

Hi Chris.  I have multiple rentals in the city of Elyria.  Feel free to reach out.  Also, check out the Lake Erie Landlord Association, which is a group of over 300 local landlords.  Lots of great information to be gained.  www.lelaohio.com.

Own rentals in Elyria, Ohio.  Reach out if you need any assistance.

Curious about other BP members experiences with Turnkey providers.  Many that I've looked up seem to overestimate the returns, especially when the rent is below 1% of the purchase price.  However, wanted to check out this avenue in case I'm missing an opportunity.   Thoughts from those who have utilized these companies?

Looking at the Marketplace listings and am shocked at how many people leave listings on there indefinitely.  Makes me not even want to use it as I'm unsure if the home has already been sold or not.  BiggerPockets needs to consider deleting listings after a certain amount of time (30 or 60 days).  If the listings are still available, the person can put the listing back up.  JMO

I've heard and read many thoughts on what landlords may, or already are planning on doing due to the Coronavirus outbreak and subsequent closing down of much of our beloved country.

I've heard things such as:
1.  Waiving late fees for those who are late in paying rent due to the Coronavirus.
2.  Waiving part or all of April's rent for those who have lost their jobs or loss of hours.
3.  Using the Security Deposit as rent for those who cannot pay a specific month's rent.

My question is; Are these legal?  Meaning, could you be discriminating if you only do these for "specific" tenants and not others?  Are you legally allowed to use the Security Deposit for anything other than damages, unpaid utilities and last month's rent (if they left without paying the last month's rent)?

In trying to do good, could we be setting ourselves up for problems later on?