All Forum Posts by: Bakhodir Ismatov

I have a crawl space in basement which stays cool around 60F. How many rigs you think will it support until the need for additional cooling? 

Do you get separate Internet line for mining? How do you separate electric usage for mining so you can report as expense?

Thanks

I had a situation where the month-to-month tenant took additional 10 days to move out after giving me 30 day notice. Usually I just prorate 10 days of rent and move on. 

I am just curious what can I charge legally in this situation.

Can I charge another month rent?

Can I consider the day they moved out as a new 30 day notice start since they did not follow through with the original one and charge accordingly? 

I saw some sample leases that charge $100 per day for overstaying. Is it legal even if it exceeds the prorated rent?

Thanks

The contract should specify conditions when buyer can get out of the contract. Mainly termite infestations, some major issues found, couldn't get financing etc. Read the sales contract. If they just changed their mind you might be able to keep the deposit. 

One long and expensive way is to sell for 905, then sue the first buyer for breach of contract. I am not a lawyer so consult one first.

Also consult a CPA because selling cheaper may not be as bad as it seems. You can offset some other income now and for future years to come. I think that's what Trump did ;-)

Section 8 determines how much is the market rate is and doesn't allow any lease over that rate even if renter agrees to pay extra above whatever section 8 is paying. This is to protect the renters from overpaying. Whatever deal they had is not legal and I don't know what the section 8 will do to you if you continue accepting cash under table, also irs may not like it.

It is so hard to get a voucher for section 8, so I don't think the renter will give you hard time especially knowing she might loose her voucher for paying cash the previous landlord or to you. She might have more to loose then you.

If you want to legally get the full rent, offer her washer/dryer rental, lawn services, lawn mower rental, pet fee and etc for extra $150.

This renters will be paying your mortgage while you are rehabbing the other two units. Maybe get their rent to $650. You will also avoid several thousands in rehab expenses you will have to do to get the market rent. Also while rehabbing their units you will loose 2-3 months of the rent. Instead of spending bunch of cash up front and hope to get it back in several years you spent zero and get long-term paying tenants. You can increase the rent gradually every 2-3 years too. 

To simplify you are short of 250 from market rate, but you are saving 10K in reno cost, so the renter can stay for 40 months and pay 650 and you will still breakeven if you spent 10k and rented for 900. 

Older renters mostly more stable and less trouble making tenants in my opinion.