All Forum Posts by: Austin F.

Cash flow lets me take 6 months off every year to travel, ski (100 days last season), mountain bike, whatever. But yeah, I should invest in appreciation and enjoy life when I'm 60 (which is when my loans mature and I can start selling AKA retire).

Pass.

Yeah my local bank holds all my primaries and extended a LOC secured by seconds against my portfolio.

I'll pile on with the rest and say this sounds like a crappy deal, but in the spirit of answering the original question:

You can dispute the appraisal, I got an extra 5k doing that once.


Last deal this happened I switched from agency loan with appraisal to commercial with an evaluation. Instead of an appraisal like with an FHA loan, in an evaluation the lender essentially asks a realtor "what do you think this is worth". The lender can pick who they ask, unlike an appraisal which is random. It saved my deal from an appraiser who said after I disputed "Yeah these comps sold for more, but I don't think they should have so we aren't counting them".

Of note, this wasn't my first rodeo, I was confident in my numbers, and the gap was only 20k or so. Your mileage may vary.

That will show well.....

No, don't do that.

My state law reads something similar and my interpretation is that if they don't provide a forwarding address you don't have any obligation to provide them (chase them down and provide them, that is) an itemized list of deductions, or their deposit.

If they request their deposit (now or in the future) you are still obligated to return it, but if you request a forwarding address that they refuse to provide how are you supposed to return their deposit?

If they want the deposit sent by e-check say something like "Unfortunately due to state laws I have to send the deposit to a physical address". You may also be able to send it via email, depending on how your state laws read, and what your lease says.

If you're still within your 30 day window stay the course, and on day 29 if they're still threatening legal action mail it off (exactly as state law requires) to their last known address which in my opinion is the last place you know they lived, your property (many tenants will leave a forwarding address with the post office, so it may end up where its supposed to). I certainly wouldn't mail it off to some random address though.

I rent to college students, or young people mostly and come across this often. 

Each has to individually qualify, but I am pretty lenient when it comes to the income requirements, if I wasn't I wouldn't find any qualified tenants.

I usually tell the young couples something like this very early on in the process: "I don't need to know, and am not assuming anything about your relationship but relationships end, and when that happens things can get ugly. You need to have a conversation about what will happen should that occur. Nothing changes on my end, I still am looking for $xxx on the 1st of the month, whoever pays that I don't care as long as it happens."

At this point the responsible ones usually say something like "we talked about this already and xxx will stay". They get to move forward.

Well, then there you go. I can tell you if I had to dispose of a dead dog it would cost the tenant a small fortune. Gloves, Tyvek suit, respirator, therapy.

All that would get billed against the security deposit. Plus any damage or cleaning that resulted from said animal.

That said and more to what I think your question may be: I don't think you can bill the tenant just because you found out they had a pet without citing, depends what your lease says. 

If someone had a dead animal in a cage (or near a cage) upon move out the first person I would call is the police. Maybe the ASPCA if I could find the number before the non-emergency police line.

Not an STR guy, but I am curious if "reverting to trend" would be more accurate than STR BUST!!!

2021, 2022 were not average, I wonder if 2019, and 2023 are "closer" than 2022 to 2019