All Forum Posts by: Tyler Labelle

So one of my first purchases this year was a cheaper little 2bed 1 bath condo that was around 62k  I'm now looking at my Tenant Cloud accounting software and realized they don't have a section for entering that. I put it in closing costs but I'm not sure if that is correct.  at the end of the year how will this house affect me?  I'm regretting putting that much cash out there on one house but for now it is what it is.  not bothering with a refinance but hindsight I wouldn't have paid cash.  

Does anyone have a copy of what I should give him and have signed for the deposit to hold property?

He's agreed to pay from the 1st.  so he's good to go. I really dropped the ball with not listing the house earlier but i had the inside torn apart and its a totally different place than it was and I felt I needed to wait for the professional photos to be taken and list with those.  

ok he's agreed to start on the 1st.  I bought this house empty and updated it.  ill request the full first months deposit 

how much should I tell him for deposit?  500?

Found A extremely well qualified tenant but he can't move in until the 15th of September. Do I take his deposit and let it sit empty? Do I offer him the place but only if he signs and pays from September 1st? or do I just keep looking?  I've have 15 people call and probably 8 view the house most of them not meeting the income requirements.  

About me,  I have 5 rentals but I bought them all this year and most of them had tenants in place so this is my first time dealing with filling the door. 

So this tenant is a pain in my butt as she's always weeks late.  SC has a 5 day pay or quit so i posted the letter on the 6th.  I went down there in person to address a leaking toilet and of course she promised to pay the last day "yesterday the 11th" . but here it is the 12th and no payment.  do i follow through with my threat of kicking her out?   I've never evicted a tenant as she is my first property I'm personally managing.  i feel like she just keeps pushing and pushing and if i don't back this notice up that the next one wont mean anything.  

I'm also wondering how the bookkeeping is,   I just went back and spent the entire day entering all the bills and receipts i had into the TC portal.  now that i've done it all I'm wondering if a CPA is even going to like this?  I'm cheap and don't want to pay for QB. on a monthly subscription for only 4 houses.    any info from an accountants view would be great. 

    So I have three class C houses that are at 1.3% rule.  Thats great but I know they will likely appreciate at a lesser rate than a B or A class.  and since I'm managing some of these I'm realizing how much of a pain C class tenants can be.  So I started looking at A's in my area.  I know I cant meet the 1% rule but also know that charlotte area is booming and am kinda ok with a smaller return ConC for a better long term investment and an A class tenant.   what do you guys an girls think?  also note I'm showing 30% down to keep my cash flow strong for the event i would need to lower rents in a down market.  

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theses are great reply's,  thanks for the insight and I will keep this all in mind with my numbers.  I cut my repair percentages down a little with not having to worry about the outside. I still havent heard back on my offer.  I offered when it was 2 days on market and owner took a higher offer from someone else but just fell thru yesterday because of failed financing.  i submitted a new offer 2k higher but cash with 2k EM and 14 day close since ive seen the place in person and am very confident in the condition and with the remodel ill be doing.