All Forum Posts by: Bridget Smith-Osbourne

Hello BP Family,

Since I have stepped up my game in the world of real estate investing...it is so important to have a good CPA.  I have a portfolio of buy & hold properties and am looking for recommendations for a knowledgeable CPA in the New York Metro area whom specializes in tax strategies/ preparation  for real estate investors. Recommendations appreciated.

Bridget

Does it get any better!!!....... A wealth of information at your fingertips complimentary of the BP family .  Thanks Chris & Derek

Thanks Guys ....theses sites seem to be a great starting point.

Thanks guys. Jim ... my rentals are in North Carolina. So any thing in this jurisdiction would help. The issue I have at hand is should I rent to an convicted felon?? I know this sounds a bit strange but I am baffled by the situation as well. I approved a rental application not knowing that one of the occupants will be coming straight from a correctional facility into my rental!!!! The applicant failed to tell me that one of the occupants who will reside at property is currently in jail. The charge is obtaining property under false pretense/ forgery.   So many thoughts...but don't know what to do? Any advise?

Hi Bigger Pockets,

I need some help!!! I need to know how do I go about obtaining a criminal report for a potential tenant I am considering renting to. I've tried contacting the local police department to no avail. I know this is something I should have implemented a long time ago but just did not know how to go about doing so. Any input is greatly appreciated.  Happy investing

Thanks

Bridget

Well I just found out from tenant's daughter that tenant is going to an assisted living facility. Where do I go from here?????.  I have a house full of personal belongings. Do I need to go thru the eviction process or can I clean out the house on the grounds of abandonment. I have yet to hear from the tenant.

I do agree with your compassionate approach but there are other factors I've failed to mention. Prior to his wife passing the lawn was not being cut as stated in the provisions of the lease. He no longer has a car & is not in the best of health. Public transportation is not available in area. 

 Back in December he left his now decreased wife to be with his 1st wife. His now decreased wife was put under undo stress as she had to scramble to find some where to reside. She could not afford rent on her fixed income & begun selling her home contents. He pops up a month later stating it was a misunderstanding. Not once did  he call me during his disparture. He still owes me for December's rent

I have been very understanding to his situations.  He asked for a $100 rent deduction because he has to pay more into Medicare. I was unable grant that request but I have reduced his rent by $40/month. I just feel at this point & time in his life he can not physically or economically afford property. I do not think it is in his best interest to reside alone in a rural area. His family lives in another state and are not allowing him to live with them upon being release.

I have taken out a $100K HELOC form my primary residence to purchase free and clear rentals. I have paid the HELOC down to $40k and have since reused the funds to help purchase a quad plex. My interest rate has been steady at 4.99 % for the past couple of years. It is true that the interest rates are not fixed so you need to proceed with caution. Since I own the quad plex free & clear, all my rental income is used to agressively pay down the HELOC. I may also use rental income from other units I own to help pay off loan as well as wages from my job if rates begin to increase.

Well I personally do not wish to continue with his tenancy due to the circumstances of his wife passing and he is not capable of upkeeping this 4br/2ba home.

Property is in N.C. Once the notice is served court is set for five days from such date. If the verdict is in my favor Tenant has 10 days to vacant premises. It is a pretty swift process. I really to get inside premises and have it cleaned out.