All Forum Posts by: Alan Russell

 I would never recommend someone continue in a career path they have no passion for, if you don't like IT you should get out of the field.  That being said I also think it would be a huge shame to drop out of school when you are so very close to finishing.  My opinion would be to change to the field you want to work in and complete school.  That education will work for you in the future and as someone else mentioned you can do both.  If you feel like you need to start working right now then switch to night classes or distance learning so that you can complete school while you are working.

so a couple of things Shaun,

First there is a 5 day notice to vacate.  you have to wait till that five days is pas before filing for eviction.  Then you have to wait till you get a court date.  Once it goes before a judge the judge can order them out by a date her determines.  If they don't leave within 3 days of that then you would have to go back to court and have the judge order them removed. So yeah not as easy as your thinking there.  

Also if you short circuit any of these steps the judge can order you to pay reparations to the tenent regardless of what they owe you.

the issue is usually not how long the judge gives them to vacate but rather how long you have to wait on court dates in between steps.

@Trey McGovern, @Paul Argenbright I would love to attend if this is put together

I started at 59, I hope I am not to old, LOL

Does anyone use price per square foot when calculating ARV?

after some quick calculations I figured if you did a 75% LTV mortage you would be able to pull out 64500 at mortgage time. If it was me I would repair the damage as long as the property would have positive cash flow afterwards.

It appears to me that it would but, that would depend on the cost of the repairs.

My CPA is telling the me sale thing.  I purchased the property August 1, 2016, finished the rehab December 2016 started renting it Feb 1, 2017.  All the repairs I did are considered capital expenses and even though I can't write them off for 2016 I can start writing off depreciation on my 2017 taxes for both the purchase price and the cost of the remodeling.

The 10% penalty does not apply if your 50 or older though

I thought a broker ( and/or agent) was required to pass along any formal offers they receive on a property.  I just have my agent make a "formal" offer with a check for the good faith deposit and I have never had one ignored they usually counter but occasionally just turn me down flat.

Christopher,

My question would be, why do you need to be close to the asking price to make an offer?  I recently purchased a home for 35K that the owner originally listed for 60K, after about 1 month he dropped the price to 50k but those numbers still didnt work for me.  I made an all cash offer of 35k and after about a week of back and forth we were to far apart so I walked away.  Two weeks later he contacted me and asked if my original 35k cash offer was still good.

I work the numbers and make an offer for what I am willing to pay for a home.  If the seller can't or won't sell for close to that then I walk away and find another one.

Bottom line is if you don't make offers, even if you and your agent think they are to low, you could be looking for ever.  At the very least if you are justifing your offer by what the current owner is asking then you will probably wind up overpaying (IMHO).

Good Luck