Fort Worth, TX · Member since 2020 · 1k+ posts · 2k+ votes
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Rental Property Investor · Springfield, IL · Member since 2020 · 36 posts · 35 votes
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@Alicia Marks
Hi guys! David, your BRRRR book was my first intro into BiggerPockets and I listen to it once a year. Thanks!
My wife and I started 5 years ago and have 3 SFHs, one under contract, and a four plex. We're dealing with our second "got behind, trashed the place, and might have to be evicted" situation (in a SFH). Beyond the rent they owe, I want to sue them for the damage they've caused to the house. Broken window, kicked in glass exterior door, and busted up interior barn door.
Is it worth it to try and sue for damages? The emotional side of me is so angry that they damaged a house I put a lot of work and TLC into, and that between damage and lost rent, basically a year of profits from the house will be wiped out, but the logical side of me thinks I may be throwing good money at bad. Can you discuss the topic of late rents, evictions, and to sue or not to sue?
PS - ideas for the podcast: I loved the live question format you guys did a one-off of. It reminded me of a Dave Ramsey episode. I loved hearing other peoples situations and questions. I love everything you guys do. Thanks!!
I'm a noob who hasn't yet purchased my first investment property, but I'd like to in the next 18 months or so. The problem is, I have about 50k in credit card debt from starting another small business (currently all on a 0% apr card that I've been transferring from card to card to keep from being charged interest, but eventually this is going to catch up to me). The upside is that I do have good credit and about $200k in equity in my personal home that I've owned for 11 years. What's my best strategy moving forward? Should I focus on paying off my credit card with pay from my other business before doing anything else? Should I use my equity to start buying and hope that the additional income can help me get my credit card paid off sooner? Or should I use some of my equity to get my credit card paid off before I start accruing interest? Thank you for your help! Jason in GA