All Forum Posts by: Nephtalie Pierre

Thanks for your replies. Have you found it to be helpful to try for MTR like in furnish finder for the time being. I'm feeling it harder because only 1 month of income to carry through this period. 

@Nephtalie Pierre, after further due diligence, I'm incorrect. PadSplit charges a 12% recurring platform fee plus a 2.75% flat rate transaction fee for a total of 14.75% fees.

@Amity Word, I refer to this simply as a rent-by-the-room property/investment. Since you are not occupying the property, you are then not house hacking. Which leads me to question, how did you finance the deal? Please don't tell me that you acquired the property via an owner-occupied mortgage product. If so, you are committing mortgage fraud. Gauging rent rates for individual rooms is an entirely different game with more uncertainty than traditional long-term rentals. As noted by Alexander, your rental demand situation is entirely dependent on the MARKET. Marketing the property with PadSplit is going to cut into your cash flow since they receive a 25% fee on monthly rent. If you want to maximize cash flow, then you will need to self-manage to cut expenses. That being said, managing a rent-by-the-room property can be a full-time job in itself. Where is the property specifically located? Good luck! 

@Nephtalie Pierre Good luck with everything, anymore questions feel free to ask.  Also if you do not have a handyman start looking for one you can work with and trust.  Start building that team!  They are a valuable piece of the puzzle.

Toilet leaks do reek havoc if gone unfixed or unnoticed but generally a halfway decent contractor would fix/stop the leak before replacing the floor.  The biggest red flag for me is the fact the woman there said something else was causing a leak and gave specifics of the cause and it fits the damage and time frame.  Another red flag is your friend and the lady were discussing the original builder whom they both had similar and negative experiences with, seems to me the original builder is a HACK.  

Definitely do not ever hire him for any future work.  Be sure to do your due diligence before purchasing this property, if you can't get it for the right price walk away the headaches down the road will not be worth it.

 Most people get an invoice when work has been completed.

So you think that they made up a fake invoice to blame the repairs on the plumbing?