All Forum Posts by: Sivakumar Ganapathy

thanks a for your responses everyone. I really appreciate your time. Does anyone have a good lawyer's contact that I can use for this case?

I'm very inclined to reveal the management company's name and the emails that show their pathetic service. I would hate for someone else to fall prey to them. I'll probably wait to consult a lawyer before I do it.

Appreciate your help.

Hello members,

I'm a landlord, dealing with a property management company that can only be considered a 'nightmare'.

In order to cut my story short (unless someone is interesting in hearing me out :) ), I'm now in a situation where they signed a 12-month lease with a tenant with terms that I did not agree to. More specifically, I had asked them to either have the client assume responsibility for water  and sewer (or) increase the rent by $x per month. They did neither and now casually claim that even though it was a mistake on their front, they cannot do anything about it since the lease is a binding contract for its period. This error on their side is going to cost me at least $2k over the course of the year.

I have a trail of everything in email conversations (including a complete list of my troubles with this unprofessional company). Can someone tell me what my options are with respect to the lease, going forward?

1) Is it true that we cannot have the tenant resign the lease with the adjustments? 

2) How do I make the company pay for their mistake, and more importantly for my losses?

Thanks,

Shiv

All,

I'm pretty amazed at the collective strength of such an amazing community. After spending a whole couple of days reading through various forum posts, I'm still not clear on how people who invest in 100s of investment properties, deal with their taxes.

My biggest question is this: Suppose, I refinance my existing primary residence or an investment property and end up using cash-out to buy another investment property. Would I be able to obtain tax credit on the mortgage interest? 

2nd question: Can I do this as a chain? ie, cash-out re-fi primary residence to buy 1st investment property. After that, cash-out refi 1st investment property to buy 2nd property and so on. 

Would I be able to deduct interest on all these loans (without any limits)? If not, is it best to get individual loans on each investment property I choose to buy?

Thanks and apologize if this has already been covered some place else. 

Cheers to the community!

Shiv.