All Forum Posts by: Neil C Stark

Natalie

We had to drop 12 thousand dollars on a huge asphalt driveway to cover a temporary driveway used to cover fire damage debris.  I don't care if you don't buy the fact that we didn't have the funds. I had 1500 dollars in our checking and savings combined at one point. I didn't try it because I have never done it before and I wanted to gather more information first. I already own a long term rental and was weighing the benefits. I appreciate your response but don't assume so much of people and calm down a little bit if you want to offer advice to someone.

Thank you everybody!! Lot to think about and research. Good advice and resources from the thread. Much appreciated!

Thank you so much Michael!

Thank you Kevin! Exactly the sort of guidance I was looking for. There are several AIRBNB's in our town, so I imagine they are allowed, but I will surely verify!

Neil

Paul. No Doubt! But if you have a problem with a tenant on a one year lease, you cant do much about it for a year, or a long drawn out eviction. If you don't like your BNB tenants, they will be gone in a couple of days. While I agree with your response, its not that cut and dry. Also, like most, I am willing to deal with a few more problems for a substantial increase in income.

Thanks for the reply.

Thank you!!

Hello Investors,

I purchased a duplex in which to house hack with my family.  The units are a 2 bed, 1.5 bath and a 3 bed 1.5 bath, all newly renovated with high-end appliances.  We rented out the other side on a 1 year lease for 1650/mo.  We were wondering if we lost an opportunity to BNB and make more money (at the time we were short on funds to furnish the unit for a bnb).  Our goal is to make as much money as possible to acquire more rental properties.  We plan to move out in a year and buy our (hopefully) forever home.  I am wondering whether or not to BNB both units or just one, or none.......The city is Palmerton, PA. It is 15 minutes from Blue mountain ski resort, white water rafting, biking, Beltsville state park, etc......I would also like to know the best way to research BNB in regards to occupancy rates in specific areas. Any help will be greatly appreciated....

Regards,

Neil

Hello Bigger Pockets Community!

I am renting out my first Single Family home and had a potential tenant call me.  I am requiring applicants to earn 3X the monthly rent for income. The tenant did not meet this, but said that his daughter received SSI and would make up for it.  I told him that I could not count his daughter's income as she was not on the lease, but I realized I'm pretty ignorant on SSI and how it can be applied/counted as income.  Can anyone tell me if I made the right decision?  I also do not want to get in any legal troubles for discrimination.

Regards,

Neil 

Thank you Mark and Bill!

Thanks to the help of Brandon Turner's books and BP, I have my first offer accepted on an investment property.  I'm looking for a investment wise CPA in the greater Scranton area.  Any recommendations on what I should be looking for? Thanks in advance.

Neil Stark

Gouldsboro, PA