All Forum Posts by: Michael H.

I have a tenant that is moving out on July 26. His month of rent starts today on July 21. He wants me to take out the six days of rent from his security deposit. What do you tell tenants when they want to pay the last month or the last partial months of rent with the security deposit?

@Joe Martella I haven’t sent them a new lease in the past, just that the rent was increasing and had green sign. Not sure if a signature is needed though for the increase.

When you increase the monthly rent, do you make your tenants sign the new form with the increase or do you just send them a notification that it is raising to X amount?

Nobody knows what’s going to happen. The top economists in the world are right 51% of the time. . . Just make decisions that you are comfortable with and you can sleep at night.

Nobody knows but in ten years it will seem

obvious and people will say they predicted it.

@Evan Bonnell

Bad idea but if you do it, please report back to let us know how it went. As a warning to others.

@Darius White

Josh Dorkin would probably tell you there are $500 properties in Detroit but you might not want to invest in those. If they are $500 now, what makes you think they will be over $100k in a few years? There is a reason they are so cheap.

@Jonathan Taylor

I’m looking to sell my primary where I have house hacked (collected rent and reported on taxes) for about five years. I want to buy a bigger property and rent out the units. Do you know if a lender will use estimated rent for the new property since I have been a landlord over two years or will it not if I sell my current house?

Thank you!

While you are still in high school, you should try to get a job in real estate somehow. Work at a real estate office somehow. I say this because what happens if you start working in the field and hate it? Better to know early then wait.

@Blake Edwards people that don’t invest up to the company match in a 401k don’t understand elementary school math. If you get a 100% match and the market gets a zero percent return, you still made 100%. If your investments just go up 5%, you have really made 110%.

Even if it is just a 50% match, you are still up 50% with your investments making zero percent. If your investments are up 5%, you are up 57.5%.