Mike Mitchell
section 8 or lower rent
I recently posted an Ad for my 3br for $2000 in Brooklyn, NY. It is a 2 family house. My PITI - 3000. I am currently getting 1700 for the 2 br unit. I have 2 potential tenants. A Section 8 family with a smoker for 190...
Jill Patton
Getting Hosed by 3rd Party Auction House on REO Buy
Hi, About three weeks ago, I won a bid to buy a REO from the online bidding site - Hudson and Marshall (H & M). I signed the contract and made the EMD. H & M said the bank verbally agreed to accept my bid a...
Alex Tsui
Should I hire an attorney? Any referrals?
I have a SFH rental property in Riverside County CA. The house suffered substantial water damage due to vandalism by the tenant in Q4 2018. The house was insured by one of the largest insurers. When I filed my claim, ...
Allen Nelson
Cash out question
We are working on closing a deal on our second property. This has been a roller coaster ride thus far. We are getting the home from a friend. Purchase price $100,000. They have allowed us to go in and rehab prior to c...
Brian Tisler
Which applicant would you select?
Rent is $750+$50 with pet #1- married couple, she makes $17k per year, he is unemployed. However, they tell me they get an additional $30k annually in August and $900 from a lawsuit, but no documentation to support i...
Hal Cranmer
Judgment Collection
Hi.
I won a judgment against a tenant for a substantial amount of money in small claims court. The judgment was for less than half of what the tenant owes me in damages and unpaid rent because it was the limit for s...
Account Closed
Multiple 'de minimis' safe harbor elections?
Good Morning All! Two questions actually.First, is the 'de minimis' limit for an individual landlord $500 or $2,500? I read Amanda Han and Matthew MacFarland's book and understand (or interpret it anyways) that the li...
Robert Steele
Texas Tax Sale: Lender strategy
A friend asked me about a SFH being auctioned on the court house steps in a Texas county. At the conclusion of the sale I understand that the mortgage is no longer attached to the title. It becomes an unsecured loan (...
Steve DellaPelle
I Think I Messed Up...Adding Bedrooms...Not Pulling Permits
I think I messed up....My attic used to be 2 units back in the day, split between the left side and the right side. There was a fire back in the 80's and it hasn't been finished since...I decided I wanted to use this ...
Curtis Bidwell
Short Plat requires neighbors help
I have 2 acres in the city (Puyallup, Wa) with an 1800sf SFR on one end of the property rented to the same family for 8 years. The city will allow me to divide into 3 additional lots. I have an easement from the nei...