All Forum Posts by: Samantha Hiscock

No offense folks, but Rick is the only one with some common sense here. I live in a very VERY tenant friendly state, and my county judge hates landlords and often ignores the law when ruling, if I were to burn my tenants crap or put it out on the curb and blatantly ignore the law I don't even want to think about the ramifications! Its not worth the risk to me, tenants that require eviction often have Legal Aid on speed dial.

So jealous!  Vermont is 60 days! And thats after the 4-6 month eviction process. In Vermont there is little to no way to actually collect a judgment.  

Buy now, and in 3 to 5 more years you'll have saved 20% for another property! ;-)

Call the utility companies, they usually give you that info if you tell them you are purchasing the property.  They typically only need the property address to give it to you, not account numbers or personal info. 

I can't be of any assistance in regards to wholesaling, I'm a buy and hold kind of gal. You should set up some keyword alerts (specifically 'Vermont') and maybe you can find someone with a similar strategy.  

I'm not really seeing a downside to making that arrangement, especially in writing. It will cost you a little bit of money to sue in small claims court and could waste valuable time if jail time is coming up soon anyway. Get what you can from him! Sue if you have to, but it sounds like he's willing to pay without that happening first. 

Thats 2 new Vermonters just this week! However, you all seem to hover in Chittenden County. 

I bought my first property for the same reason! I was a young single mom trying to go to college when I realized my student loans would be outrageous,  and I didn't want the same for my daughter.  So i bought 4 unit building and lived rent free, and in another 9 years when she and my stepsons all head off to college at  same time there should cash flow and equity enough for them to start their lives off without too much debt. 

My only real advice is to keep at it, and not jump on a "deal" just to get one, make sure the numbers truly work. I'm not sure what your plan is once you acquire the property,  but taxes are high and utilities are expensive so make sure they are both properly calculated.  

Type of service as in active duty vs. a national guard/reserve status. We are actually refinancing our personal residence right now and the funding fee waiver has saved us over 5k. Although I'd pay that every damn day if it meant my husband weren't so broken! ;-)

The VA funding fee is waived is you have a service related disability of 10% or more. Depending on the your type of service and the number of times you use your VA loan the funding fee can be up to 3.3%.

Vermont is also a tenant friendly state. I have a lease with the local PHA and they paid a years worth of rent up front. They sublet the apartment to the tenant and collect their portion of the rent. 

I assumed this was legal or the PHA wouldn't have offered it. The IRS requires that I claim the entire years worth of rent in the year it was received.