All Forum Posts by: Michael Gregory

@Joseph L. Have you ever worked with Quartz countertops? They are actually pretty easy to cut and install yourself. All you need is a $30 diamond blade for your skill saw to get started and a cheap diamond drill bit for punch holes. Well, that and an extra person to help lift the stupid heavy pieces. ;)

Quartz is much better than granite in that it doesn't stain or require any maintenance. You could have done that kitchen for about $800. Sure it's not home depot cheap, but it adds a touch of class,and the stuff lasts forever. It makes a ton on sense from a long term perspective as it will not chip or delaminate and is totally waterproof. If you can get another $20 for rent out of a unit, it's a no brainer. 

Thanks for the advice everyone! Mom has said that her church has offered to backstop her rent if dad fails to pay, at least in the short term, so I should at least be collecting that. I'm leaning toward giving her until the end of this month to come up with a credible budget plan that shows she will have enough money to pay rent and live on in the future. If rent is going to be more than 50% of her total income I'm going to suggest she looks at some government assisted housing that will be a better fit long term. 

I don't want to be a total jerk and give them notice right in the middle of a divorce, but I also don't want to be stuck with a sob story tenant with inadequate income. 

Any thoughts on my plan?

Michael

I would take that as a VERY good sign. It means that they will probably keep it clean. You should be able to hire someone for less than $100 to get it spotless. 

So I rented out my basement 2 weeks ago to my very first tenants ever. About a week in, the you know what, hit the air propulsion device. I have no idea what to do! 

Backstory: December 1, 2015, I bought a fixer and started fixing. A couple weeks ago I FINALLY got the basement ready to rent. The plan was (is) to have the tenants pay 2/3 of my house expenses, so I don't have to worry too much about a day job and can focus on my next BRRRR.

I selected a nice family of four. The dad had a very good job doing construction work and the mom stayed home with the kids. About a week in, the dad left at midnight and didn't come back. The mom has since revealed to me that he has been unfaithful to her, and she is filing for divorce. :( They both signed the lease, and the man has said he will pay this months rent. I have no idea what will happen when the divorce goes through.

Help?

Michael

I'm just starting out with my first (of hopefully many) refinance on a property. Is it better to try to find a local bank / credit union and build up a relationship, or find a mortgage broker who can source from more lenders?