All Forum Posts by: Wayne Bodley

That happened to me last month, very disturbing to say the least. I'm sorry you or anyone has to go through it. In my case the family came and just cleared everything out with a trailer in one day then I didn't hear anything else. Surely they don't want any reminders of their 24 year old daughter's untimely demise. In your case it sounds like the same thing and I would just move forward with liquidation of the items and get the unit re-rented asap. It's a bummer all around.

My wife and I are currently under contract on a couple houses side by side in Crystal River Florida. one will be our primary and one will be a rental. When we were looking at houses it never occurred to me to consider the cost of flood insurance (we live in the mountains of NC) so it was a rude awakening to see the crazy numbers. The main house appraisal came in under the contract amount so I have an out that I'm considering using. I can't imagine the flood insurance rates going down and I'd hate to get stuck in a house forever or have a hard time selling. I'm shopping for some better rates right now so we'll see.

Seller pays commission generally so why wouldn't you hire a realtor?

Generally you will only be able to write off mileage used solely for business purposes. You should consult an accountant for the whole story though.

Thanks for the responses so far and yes I went from an aggregate of $3000 to $4000. We'll see what happens.

I've got 3 rental houses in a row all coming vacant at the end of the month. I've been approached by a faith based sober living house looking to expand into the area that would rent all of them. Does anybody have any experience with this situation or advice to offer?

I was fortunate enough to build my first house with a non profit self help housing group similar to H4H in 1997. I still own it and it's equity has been the springboard for many other deals.

I would consider a mini split instead. I've had the hot/cold window units. They usually need to be wired 220 and the cold is fine but the hot is usually pretty tepid. Blue ridge sells mini splits for about 700-800 and then you have to hook them up. Maybe a better long term solution.

My wife and I own 5 sfrs at the moment. We started 10 years ago by moving out of our primary into a duplex of sorts (using a heloc for the dp), keeping the primary as a rental. So then we had two rentals. then we bought the house next door and moved into that, renting our primary again. Then we cash out refi'd the original house to pay cash for a house in independence mo. for my daughter and her family to live in (cheap houses out that way-27k) Now we're under contract for a primary and additional income property next door to each other in Florida. So soon we'll be at 6 doors total. I am probably a little risk averse so I prefer the slow and steady approach.

I'd probably keep looking, it sounds a little tenuous to base your decision on the mil.