Seth Jacowski
Back Up Funds
Hi all,I recently bought my first rental about 4 months ago. I think I am ready to buy another one but am curious on what others stance is on reserves. How much cash do you keep in reserves in case of emergency. I don...
Jarret Durst
Keep saving or pay consumer debt?
Hello BP People,I’m in a situation where I have approximately $8k in car debt & $20k in school loans. I have about $6500 in my bank account and growing that by about $1000-$2000 a month. Would it be best to focus ...
Megan Elliott
Tenants boat tax is being held on my property
I am under contract to sell one of my rental properties and found out this morning my tenant in 2015 didn't pay his personal property tax on his boat, which is now being held against my property. The lawyer said I wi...
Jonathan R McLaughlin
Contractors! What makes a good client?
So engaged in a rehab project now. Its a new area for us, and so far we have had good luck finding great guys from referrals and just reaching out for quotes etc. Knock on wood its going fast and well. Fingers crossed...
Cynthia Brooks
Way for Owners to Challenge Eviction Moratorium in NY
Looking for Owners to Patriciate in a Potential Eviction Moratorium Challenge:
SPONY has been asked to help coordinate a potential challenge to the eviction moratorium. In order for this effort to move ahead, propert...
Jeffrey Miranda
Minor Buying a Car with an LLC?
I'm not sure if this is the best place to post this but I figured it was worth a shot. I was wondering: since I can't fully own a car as a minor, would I be able to buy a used car, outright with cash, and transfer own...
Andy N.
Missing appliances, new property manager, new tenant
Here is the situation, and I'm not liking it! I have a duplex about 30 minutes from where I live. I recently listed it for sale and let the realtor manage the property. He rented it at the beginning of the month and ...
Christopher Carbonel
FHA house, Room Rental Income
Do I need to declare my rental income when I file for tax? What are my options?
My other question is, we are planning on saving all our rental income to acquire another property. When the time comes that we are fi...
Shveti Shah
Contractor Nightmare and how to fire them
Hello, We are newbies in flipping and made the mistake of giving the GC 60% of the money. The GC came referred and we thought they would do the work and finish quicker. Classic rookie mistake. Now we are in a sta...
Ray Burrola
Taking over an existing mortgage,,
Hello BP members. I am taking over a mortgage from a family member. She has already paid 12 years of the 30 year loan. I chose NOT to do an assumption because I don't want the mortgage to affect my credit and debt to ...