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NEED HELP! Analyzing 4 unit Houston Property.
4 November 2020 | 1 reply
Not soliciting just want some advice on a high level.PP $348,000FHA Loan 3.5% DownInterest Rate 3.125%Closing Cost Estimate $8700PITI $2650Property 4 unit Built 1974Sqft 2978Unit Mix 1 1bd1ba rent -$725 3 2bd/1ba - $780Gross Income $3065Deposits held (refundable 1st months rent)Fully occupied Tenant pays water/gas/electricity (individually metered) Upside Increase rents to market about 10-12% under market Implement surety bond for non refundable deposit Add on site laundry for additional income.
Arron Achey
First Tenant Move Out...No check in/inspection list?
2 January 2023 | 11 replies
If they are nice, pay rent on time, and don't give you a headache I would just return the full deposit.
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I want to open a Self Directed IRA
13 February 2018 | 11 replies
., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
Damon Aniton
House hacking for the long term
27 December 2022 | 7 replies
Find a good tenantPeople who are house hacking and being landlords for the first time should take care to understand the state landlord-tenant laws and the Fair Housing Act to avoid breaking the law or discriminating against a tenant.When the space is ready to be rented, these are the general steps investors follow to screen tenants:Determine minimum tenant criteria, such credit score or income-to-rent ratioPre-screen tenants by discussing requirements such as the monthly rent, security deposit, rental application fee, and background check up frontGather and review applications from prospective tenants and get permission to run a credit report, conduct a background check, and contact current and previous employers and landlords to verify tenant informationDecide on the best tenant and sign a lease agreement.All the best!
Joe Kim
Rental Arbitrage -how to do airbnb without BUYING
26 November 2019 | 96 replies
However, I have offered two thingsA) Higher deposit - this way the owner's fears are alleviated somewhatB) Property management - offer the owner that you will essentially property manage the property for them.
Prabesh Vijaya
Need advise to resolve Property Manager issues
3 January 2023 | 10 replies
What to do if they don’t cooperate to transfer and provide tenant info, contact, deposit to new management company?
Hugh Jameson
Need to know how to handle a tenant moving in/out mid-lease
2 January 2023 | 4 replies
I have two tenants for a condo.each paid half deposit/1st month etc..1 tenant personal situation has changed and he is considering leaving mid-lease.the remaining tenant has a partner who is willing to move in as a replacement so to speak. does this constitute a break of the original lease and a new 12 month with the partner re-instated?
Elliot Larkin
Tenant Issue - Thoughts?
1 January 2023 | 7 replies
Deduct from HER Security Deposit for pro-rated days either of them are there, and demand payment from her if SD doesn't cover it.
Mike Gennaro
Buy and Hold Mobile Home Investors: Are you out there, and are you successful?
6 July 2018 | 78 replies
I'm not sure how long the renters will stay, but we have security deposits to try to keep things long-term.
Ben Vidovich
First Investment Deal and Banking Question
16 October 2022 | 2 replies
You will receive the security deposit in Checking but then transfer it to Savings.