All Forum Posts by: Charles Player

thanks for the advice

Looking to go into business with two other fellas. What would be the best way to go about doing this? Start an LLC???

How does it work...refinancing before a hard money loan expires. Do you still need a down payment? How do you qualify if you didn't before? Any help from anyone who has done this would be greatly appreciated. Thanks

Good suggestion Jon, I will do that. But I sent the Demand of Possession letter to the house when she still lived there. She basically got her deposit back anyways since she did not pay last months rent. I'm not really worried about it, but I will send those letters out just in case. Thanks for the advice

I sent her a demand of possession letter stating the rent she owed and the late fee. She never paid. So how can she come after me for the deposit? I don't know where she moved anyways. Is that my fault?

Yeah, i screwed up several ways. I didn't put the deposit in an account like i was supposed to. I didn't ask for first,last and deposit when the lease was signed. I did send her a demand of possession letter, but I was out of town until the 15th of the month. So she is out, and I have a new tenant so I'm going to act like it is a wash.

My last tenant did not pay last months rent and basically used her deposit for it. Her deposit was way less than the rent due. She did clean up the property and gave me $300, but there is still damage.She basically decided for herself that she would get all her deposit back.What recourse do I have here?

Thanks guys for the replys

So , if applying for a new loan,,,,how should I state income off this rental?

And I have not read too much into the 50% rule yet, but $200 of the $727 mortgage is taxes and insurance.

Taxcut does my taxes. It's pretty easy for rental properties. I use straight line depreciation.