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All Forum Posts by: Susan Herschell

Susan Herschell has started 10 posts and replied 30 times.

Post: Tenant with criminal history

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Thank you all for your helpful responses. I will definitely pursue terminating the lease within the laws of the state. The property is in Washington state. Thank you all for taking the time to response and help out!

Post: Tenant with criminal history

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Hi All,

I have a tenant whose boyfriend was a frequent guest at her apartment. As time went on it was apparent that he was permanently living on the premises and I knew that I needed to get him on the lease right away, but since several months had past and he was already living there full time, I neglected to perform a background check as I felt it would complicate things more. Well, I was wrong! It has come to my recent attention that the tenant is a registered sex offender and has a list of other felonies, including kidnapping! on his record.  Both tenants have been problematic and there are frequent unsavory visitors to the property and I get reports from the neighbors that they're noisy and there's a lot of foot traffic. I don't have any evidence of illegal activity and other than them being messy tenants and having a lot of visitors, not a whole lot of ground to evict.  I should mention that they are on a month to month lease. I am looking for the best way to get rid of them. Any advice would be greatly appreciated!

Post: Real Estate/Finance Meetup in Portland w Mindy Jensen @ Bunk Bar

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Sounds fun! Been on my goals list to get out and meet some local investors so this comes at a great time. 

Post: Does holding rental in LLC trigger 1099 filing requirement?

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Thank you guys. Would you recommend filing them late or starting this year? I think we have 2 or 3 only.

Post: Does holding rental in LLC trigger 1099 filing requirement?

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Hoping somebody with strong RE tax knowledge can help resolve this question!! This is the first year we have held a rental property in a multi member LLC (our other rental property is held personally). We self-manage both properties on the side because they have long term tenants and are pretty low maintenance. However, as we don't qualify as real estate professionals (not working close to 750 hrs per year etc.), we haven't filed 1099s for contractors in the past. However, I am now trying to confirm whether holding the property in an LLC with separate EIN (that contractor payments were made from) has any bearing on whether we are required to file 1099s for the LLC property expenses? Our CPA thinks it is a gray area for the property held in the LLC but I am wondering if anyone with more RE specific tax experience has had this question answered conclusively. Thank you guys!

Post: Portland, OR Landlords -- Please Take Note

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

I am about to make an offer on a 4plex in Portland with rents undermarket by nearly 50! What were some strategies that you PORTLAND investors are using to overcome this ordinance? Or at least soften the blow.

Post: Amazon Home Services

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Any feedback out there on Amazon Home Services? looks like you can hire anyone from a licensed electrician to a window cleaner. Anyone tried this service? What was your experience like?

Post: Cozy vs Lease Runner

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

Thanks all for your input. I have decided to go ahead and partner with Cozy. They have great onboarding rescources, support for tenants, and the convenience matched with price is a good value. I like their tenant facing marketing material which acts as a tenant guide. I include this flyer with every new tenant orientation packet. Very professional and helpful when educating tenants. Also, their support team has been extremely helpful and quick to respond. Timely responsiveness is key when running any type of business so they get an A from me. Hopefully others find this thread useful.

Post: How do I start in RE?

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

I am also new to RE estate investing. My husband and I purchased our first multifamily in January, a 7 plex in WA state. I have found the BP podcasts extremely valuable. They have been my sole education including @Brandon Turner book on Real Estate investing and Managing Rental Properties. (No! I was not paid to plug that. They are truly awesome and easy to follow). I too had a full time job and would stream a podcast on my commute home from work each night. If your not sure your niche yet, I.e. Buy and Hold, Flip, Wholesale, etc...I would listen to a few in each category and see what resonates. My husband and I are buy and holders, but we still find valuable nuggets listening to podcasts on other investing topics. 

Good luck on your journey!

Post: Cozy vs Lease Runner

Susan HerschellPosted
  • Rental Property Investor
  • West Linn, OR
  • Posts 30
  • Votes 11

thank you all for your input. @Alexis J., I'd be curious to hear your value prop (if appropriate in this forum) compared to your competitors. I.e. ***********.