All Forum Posts by: Rasheed Mcdaniel

Hello everyone,

I've recently gone pro and im excited about jumping into the community and becoming active. I have an interesting situation and figured what better to start with.

I currently house hack a duplex and have great tenants. They always pay on time, infact they pay early most months. They have been effected by the recent lay offs due to the COVID-19 pandemic. Coincidental two weeks before the shut down they decided to foster a dog (a pitbull). The lease states pets are allowed only with prior written approval from management. Also all pets require an additional deposit and a $25 addition to the rent. So, how should i proceed when an otherwise great tenant moves in an unapproved pet?

The simple answer, I imagine, is to serve them a notice to comply and require the additional deposit or the removal of the pet. however they are the best tenants I've had in my investment career (4 years), moreover evictions are temporarily on hold till who knows when so my threat to evict can be drawn out dramatically longer. Also it could be months before the economy gets back to business as usual. Now does not seem like a good time to be looking for a new tenant. any suggestions?

hello Marcus, I am a new investor. I currently have a duplex in Delaware county and am looking to expand. With my expansion plans I have been building a list of agents and contractors In the area that I would be willing to share with you. 

Also I Reside in Newcastle county, DE so our areas of interest are very similar. Shoot me your email and I'll put the contacts I have so far together for you. 

@Christian Bors Thank you for your response. sounds exactly like every other typical "insurance" company take your money and deny coverage as much as possible. I will save my money as much and fast as possible, and cancel as soon as i have a nice safety net

@Jeff A. thank you for your responses, their services promises did kinda seem almost to good to be true. With no one around to share their experiences and points of view with me i was just at their mercy for my own story to unfold however it may. Now at lest i have some foresight in order to prepare myself.

thank you everyone for your responses, as always this forum and bigger pockets in general have been VERY helpful where I would otherwise be lost.

@Phil Earley thank you, as for right now I think your idea sounds best for me at my current point. I just started and although I do not have the extra money throw away on a warranty that I may not even need I REALLY do not have the money to spend on an occurance if one should arise and I'm not covered. as soon as I build a nice cusion of my own I think I will discontinue the warranty as per your suggestion.

@Ryan Beacher thank you for your response, i do intend to scale and get into bigger properties with way more units. with that said as you mentioned i don't think multiple properties with them is a good idea like i originally did after doing the numbers following your response.

@Howard Klahr great idea, thank you. maybe when I'm ready to scale using a 1031 i may repurchase at that point to have as an extra selling point.

@Justin

@Justin Fox yea that's my thought process aswell, and with me only two months into my first deal money is super tight right now. i think ill finish out my first year with their coverage as a safety net and in that time build my own savings for capex

Has anyone had any dealings with American home shield corporation. It is a home warranty company that seems to talk the talk but is very Vague on the specifics. I'm curious to see if they are a reputable company or if anyone has a good home warranty company they can refer. To be clear "home warranty company" refers to a company to cover appliances and systems such and washers, driers, refrigerators, heating and a/c, plumbing, etc.

thank you @Brandon Hall I have never considered a non-local CPA I just kinda assumed it was a task that needed to be handled locally. 

I will continue to look locally first and if none are available or to my satisfaction then I will start looking non local, thank you!

Hello, I just pulled the trigger a few months ago on my first house hack (duplex). 

The property is in well enough shape needing only light cosmetics I can handle myself to get value up. What I'm looking for is to start building relationships with local contractors so that when the time comes that they are needed I know whom to call for what job etc. looking for painters, electricians, plumbers, and lawyers. If anyone has any suggestions or can even point me in the right direction it would be much valued and greatly appreciated. Thank you guys

Hello, I'm new to investing. I've been doing research for a while and finally pulled the trigger a few months ago house hacking a duplex. Since I'm now a property owner and investor I'm looking to have my taxes done by a more personalized real estate based CPA vs going back to H&R block. They have done a well enough job this far but each year I seem to get a new person that seems confused and must continually ask for guidance from senior personnel. Id prefer to deal with a more knowledgeable CPA whom doesn't seem confused with each form and can maximize my return and minimize my taxable income. If anyone has some good suggestions please let me know

ok will do, thanks hopefully I'll see you guys soon