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All Forum Posts by: Mary lou L.

Mary lou L. has started 66 posts and replied 360 times.

Post: Local MLS listings? or MOAR PROSPECTS!!!

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Other than Zillow, Redfin, ect.

here are three that I have used  that are exclusive to the Central Valley of California.

http://www.metrolistpro.com/

http://www.metrolistmls.com/

Merced County Board of Realtors

http://www.mercedcounty.com/properties/

I would think a master list would be nice..maybe a drop down list somewhere on the site that will give lesser known mls listings?

I just see commercial or land resources under the Resources tab. Is there another place for this type of MLS info?

Thanks!

Post: Going big! We are concidering a teardown and rebuild.

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Property is still there..but has dropped to 73000.

Post: Kids pulled up carpet in our house and found.....

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

@Mindy Jensen  @Account Closed

Post: How do lenders see income from rentals?

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123
Bob Beeler I want to show as much income from the property as possible.

Post: How do lenders see income from rentals?

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123
Is it worth to take deductions if it does not change your tax liability? Let's say my only income is 8000 for a home for the year. I get my standard deduction and end up not owing any taxes. Is it over kill if I keep taking deductions such as maintenance insurance if the after everything I just show 1000 income? I am asking because on the forums I read of a woman who couldn't get a loan because the income after all deductions was too low. Is this how lenders see income? So bottom line is it the before deductions or after deductions lenders look at? Thanks!

Post: Tenant lets dogs potty on floors! How to handle?

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

If her lease is up in June I just would not renew it. She will be out of the apt and you can do your rehab. I think that is the strongest thing to stand on is just not renew. 

Post: Kids pulled up carpet in our house and found.....

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

I am trying  to get my kids excited and bold about DIY! They pulled up our carpet ( it was much needed ) and to out surprisr there are wood floors! It doesn't go all the way across as there was an extension made to the livingroom and that is plywood . But the majority of our livingroom is this and I am excited in taking our chances in redoing the floor. 

I see it as practice at least lol!  

Post: Real-Estate invetment for Rent Income

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

As far as the concept of owning rentals as an investment it is a great option. The numbers have to be right and you have to be ready to deal with managing your property and tenants. 

What are the numbers ? Such as purchase price, down payment, taxes and insurance, and what you can expect for rents. Also any repair costs involved to get it ready. 

There is more to learn than just putting out a for rent sign.  It really is a science with the numbers and an art managing tenants! 

Post: Quiting my job Tomorrow!

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

A new adventure! Best of luck! 

Post: So a realtor came into my house unannounced today...

Mary lou L.Posted
  • Investor
  • Wichita Falls, TX
  • Posts 382
  • Votes 123

Did you look on the mls to see if your house was listed? I know i would be to find out who the listing agent/company is.