Account Closed
How to collect for damage caused by tenant?
I have a tenant who "slipped on soap and broke tub faucet off". She is section 8, so I don't think she would have money for repairs up front.
I don't mind paying for general maintenace but fill this is her f...
Jake Johnson
Things that erase cashflow to factor in up front when analyzing a property
What I have learned is this.
Note: I am still a rookie and only in the single digits for doors owned.
Big factors that quickly erase cashflow and that may put sizable monthly cashflow even into the negative:
Not b...
Arlan Potter
No reserves necessary
I have seen a bunch of questions about reserves for things like vacancies, major repairs, and capital improvements. In my opinion, these are not relevant to my rental empire.I try to find properties that at a minimum ...
Kyle Roberts
Banking and Accounting for Single Family Home House Hack
Hi Everyone!I recently purchased my first property, a single-family home in Richmond, VA and am planning to house hack. I'm trying to figure out how to set up the banking for managing the property. I've heard it's bes...
Jason Cunningham
Including refrigerator - personal property? maintenance?
Hello all,I have a question about including a refrigerator (and washer + dryers for that matter) in our rentals. Currently we have 4 rentals, all include refrigerators. As the fridge is technically personal property...
Mindy Pearmon
I'm trying to be creative purchasing my 1st property.
I don't have the cash for my 1st property I'd like to purchase as a holding. The house is next door and I have been in it. The only thing that NEEDS to be done is a new kitchen. Homepath is requesting a 20% down...
Damian Spears
Short Term Rental Property Managing
I am considering starting a small business in which I manage short term rental properties for primary owners of Airbnb properties. This technique allows the primary owner to retain about 80-85% of their profit while m...
Nicholas Mann
Multifamily Building Super (lease/agreement)
Hello All,I am currently under contract on a 6 Unit property that has a live in "Building Super" on premise. The sellers told us that he performs various tasks and does minor repairs around the property, as well as a...
Matt Liu
Paying a Super 6% of Gross?
I am thinking of offering my handyman 6% of gross rents to take care of an apartment building I will be getting soon. He will do everything except bookkeeping, paperwork, and filling vacancies (I have a great renta...
Bryson Owensby
When to take profits out of Rental?
Have about $2k of profits sitting in a checking account solely for my rental ($4k total with SD).
When can/should I take the excess profits out and invest them?