All Forum Posts by: Austin F.

30 year fixed at high 2's low 3's can't be beat. You can lock in a rate that's lower than inflation, it's basically free money. 

Currently trying out Innago on a test unit, and I'm pretty impressed so far. It's much closer to automation than I used to be. I can go from customizable application link in my add to security deposit sent to first months rent all in the app.

1. No, my advice is to stay out of the drama.

2. Let them go, and let them go easily. Tell them they can leave immediately if they want (that doesn't mean you need to give them their rent or deposit back, however). The last thing you want is someone being able to say that you forced them to stay in a dangerous situation. List the property as soon as you know they will be leaving to get a head start on filling the vacancy.

As to the paperwork, what do you need? Write something up that said you release them from their lease effective immediately due to safety concerns, that should do it.

3. For a non renewal you'd have to check state laws, but basically yes. 

Just starting with Innago and so far I like what they are offering

In my neck of the woods that house would be taxed at about 21k/yr.

But the only reason I remember how much I pay in taxes is so I can tell my liberal friends why their rent is so high.

Is the roof leaking? It would take a lot for water to penetrate 4 layers of roofing material. 

If the roof isn't leaking into the house at all you may be able to put it off. While this isn't the best choice, it may be the most practical/only choice. If you can raise enough capital over the winter to cover the repair (and get on the schedule with a reputable company) it may be a risk worth taking. 

I did a roof with 4 layers on it a few years ago and it sucked big time. I would be ready for there to be extra costs involved.

You can cook the numbers in your head however you want.

I consider my HELOC interest as an expense of sorts, but the principal is just my own money I am "saving". When I repay my HELOC I'm essentially doing the same thing I would be doing by putting my cash in a piggy bank.

I try and rapidly pay off my HELOC to open myself up for the next opportunity.

At the end of the day what matters is does the deal bring in more money than goes out, and the "cost" of the HELOC is the interest.

Just because you have a lot of it doesn't mean you're happy. 

Sounds to me like you lost this one. Take the L, let them all go (or evict) and start over.

Or you could get a lawyer and fight to keep people together who hate each other so much they're willing to pay a lawyer to get out of their lease. Even if you keep them together it won't stop being a problem. 

I personally don't increase rent for good tenants.

If they're significantly below market possibly, but keeping good tenants and avoiding turnover costs is more valuable to me than an extra $100 a month.