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16 December 2024 | 19 replies
Landlords can enter a tenant's property for a variety of reasons, including: Making repairs or replacements Responding to a tenant's request Removing unauthorized window coverings Preventing waste of utilities Changing filters, testing, or replacing smoke detector batteries Inspections Helping with an emergency inside the unit Posting a notice of eviction"Research your state laws because some of your comments indicate a lack of understanding of the landlord/tenant laws where you are operating (like threatening the tenants to keep the security deposit if they don't respond to you, I doubt that is actually a valid reason to keep their deposit, or evicting for late payments, or charging the tenants for your warranty repairs because you missed your 11 month inspection window which was your responsibility, and it looks like your lease says you can charge up to 18% interest for unpaid fees, is that actually legal?).
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16 December 2024 | 1 reply
However I have had to replace some major appliances recently which had put my in the defecate and added to my motivation to sell (Hot water heater, two refrigerates and a washer/dryer).
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30 December 2024 | 103 replies
If they are cash-flowing and easy on management, there is no reason to refi to pull the equity because you will really hurt your cash flow with the higher rates.The best first flips to me are dumps that only need direct replacement and not a square footage add or a ton of walls down just for timeline integrity.
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21 December 2024 | 20 replies
I'm not looking to replace my w2 income with it.
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16 December 2024 | 6 replies
For instance, states like California, Oregon, Montana, and Massachusetts have "clawback" provisions, meaning they may tax deferred gains if you eventually sell the replacement property and don't reinvest within the state.
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5 December 2024 | 20 replies
I require tenants to replace consumables like refrigerator filters or HVAC filters.
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16 December 2024 | 17 replies
You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist).
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18 December 2024 | 13 replies
I personally would have to have one of the windows replaced before I'd feel comfortable renting it, but that's just me and based on personal experience including a traumatic one from childhood in watching the apartment building next to ours burn in the middle of the night.
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13 December 2024 | 8 replies
A subsequent cash-out refinance of the replacement property (e.g., $250K on a $1M property with a $500K loan) is treated as a loan and generally has no tax implications related to the 1031 exchange.
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16 December 2024 | 8 replies
.- My Goal: to have $10k/months of income to replace my day job.