All Forum Posts by: Brianna H.

You're young and don't have a lot to lose...I say start investing!! :-) 

While I'm not a professional, I wish I would have started sooner. I paid off my student loans in 2 years. Back then, I was following Dave Ramsey's plan. Now, I'm trying to figure out how to save more money for another house! It's addicting once you start!

Goodluck!

It seems like all property in my area have HOA's, so it's almost inevitable that you will have an HOA. That being said, I have heard of HOA's denying homes for use as rentals (to keep property values up) and of course, it's an additional expense that you have to pay.

Maybe you can try talking to people that recently bought a house in the area and getting to see their appraisal? You can add/subtract based on the differences. 

 I only have one rental currently, but my plan is to have a separate bank account for each house. Capital One 360 allows you to create up to 30 savings accounts...you can easily transfer money if needed, and keep better records / house of where your money is going.

 Thanks for the advice! I am willing to accept that this is a good learning experience (never trust anyone :-/ ), but I do want to try to at least pester him to the point that he caves. I feel like he is the type of person that would not want this hanging over his head. 

I am going to try threatening to take him to court and see if that works! I'm not sure how much it costs to go to small claims, but you are probably right about it not being worth it. 

 The reason I brought up the police is because I was thinking about asking an officer that I know for help with the intimidation factor...simply accompanying me to his office. I'm not sure if this is legal though? 

I did sign the release of money. It took a ridiculous amount of hoops to crawl through to get him the money, so we wired the funds directly to him. This probably wasn't the best option, but oh well. :-) 

Thank you for the suggestion of the certified letter. I am going to try that! I agree about my chances of winning...I do have a text message from him that states the following, but I'm not sure if it would be enough:

D: Hi Brianna, did they wire you directly to your part?

Me: I don't understand your question. Did you not receive the funds?

D: Yes, but they only deposited $XX.

D: The question is that if the month that I offer you guys was deposited directly to you, since I see that they took $XX.

Me: It looks like they withheld 10%, to be disbursed November 13th.

Good morning, BP! 

We recently completed a renovation on our rental home. The contractor told us the work would take 10 days to complete, but it actually took 2 months. Anyways, he promised us that he would pay us for one month's rent to make up for it. The payments were made through a renovation loan, so I never personally handed him any money. 

Now, I'm not stupid and I knew that I was taking his word for paying us. He received the final payment, and I have been trying to contact him through e-mail, text, phone with no answer...DUH! 

I'm looking for any advice on how to get him to follow through on his word. I realize there is a chance that he will not pay, but he seems like the type of guy that is a man of his word and I'm willing to try. Thanks in advance!

I also need an itemized receipt from him so that I can get my taxes in order. Do you think I could bring an officer to his office to get this from him?

 I think if you add a few decorative columns, that might help a little. It definitely needs a fresh coat of paint, maybe a neutral color with a bright pop of color in new shutters and door. Concrete slab needs to go as mentioned already. You could always put a flower bed right in front of the house to hide the block structure (put a sago palm or two in the middle). Something like this:

I don't know how high the HOA is in your area, but pay $260 for my rental HOA. A little over $20/month from the rent, so I don't think that's a deal killer. There are two pools, a clubhouse, and they have security patrolling the neighborhood at all times. These are great perks for a family.

 I have a lot of co-workers (engineers) that live in the heights area. I'm not sure what your price range is, but this seems to be a popular place for young professionals. I'm not too familiar with inside beltway 8 because I am not interested in buying in that area. Maybe talk to your co-workers to see what their commutes are...that would be your best indicator of good/bad areas to live in as far as your particular commute. Then, you can talk to your realtor about those areas and the most affordable to your situation. 

My only recommendation is to try to put 20% down on your primary residence. I know this is completely against the aggressive investor mentality, but you really don't want to pay PMI forever. PMI adds at least $100 every month to your total due...research it and see if it's something that you agree with.

Goodluck! Let me know if you have any additional questions. :-)