All Forum Posts by: Mario Morales

I have two nice tenants who let their dog run around in the backyard. Its a golden retriever. My spidy-senses tell me that the new tenant moving in will complain that when she wants to come in throught the backyard (thats where the parking lot is), that she has to wait for the dog to be held by the owners. The dog is kind but big and jumps on people. Should I address it now and tell the dog owners that this might be an issue or should I wait until it is? It happened before in another building, where the tenant let the cat run around and it scared the other tenants. 

@Jill F. Hi! Could you share your lenders/banks name?

I don't understand how investors say I dont pay taxes, is that for the advanced investor with many properties or assets? I have 3 buidings and from what I gather, I want to show on my schedule E that my buildings are profitable to take out my next loan, but if I take too many deductions and not pay taxes, I am not profitable. Am I missing something?

I have a nice backyard and I made the mistake of letting a tenant let her lab run around the yard (3 flat w/ other tenants), the lab is destroying the mulch. So I want to build a dog pen with a shade, 6 ft in height maybe 8x8, that dog and future dogs can get some outdoor time as dog owners can't always go for walks. I want to be pet friendly but I also want the other tenants to enjoy the yard at the same time when another dog may be there.

Thoughts?

Thank you all, I will definitely get this going, how do you enforce throughout the year? If for some reason, something happens and when my insurance requires proof of renters insurance, and my tenant tells me "I stopped paying for it 2 months ago" or whatever, whats my recourse or penalties?  

Thank you again!

My insurance just went up by 2K, since my tenants in my "C" class building dont have renters insurance. I got my renewal this month and I renewed my leases this past April. I am thinking next year do I raise accordingly or require them to have renters insurance and hopefully save 2k or whatever the difference may be, thoughts? 

@Terrell Garren I have always heard what you said, but my question is if I paid zero taxes because of my deductions in real estate, will that make my schedule E look unprofitable to an underwriter when looking for a loan for my next property?

There are risks, as everyone has mentioned. I have investments from low to high crime areas. 99% of my late rental payments come from the high crime areas. I house hacked and then moved out, it was a sacrifice as I didn't go out at night and when I parked my car I made sure to look both ways BEFORE getting out of my car to get to the door. With that experience I learned a few things, cashflow maybe better (theoretically ) but evictions are higher (had 2 of them) and lastly as I invest now, any deals that I look at... and yes I may lose out on some opportunities, I have to be comfortable going to that neighborhood to deal with whatever may be needed. If I invest in high crime areas, I will use a property management company. A lot of smarter people than me are able to do it, but I don't want to do it again, I prefer the "B" class areas. 

My 2 cents, I was surprised to learn on a DSCR loan I was looking into, there was a prepayment penalty, as I was hoping to cashout refi when the rateds dropped...at some point :(