All Forum Posts by: Account Closed

you're exactly right James Vermillion....Charlotte City Council said the purpose was to know where to get ahold of landlords..however, that is already public record, so this seems a little redundant...second of all, they said it was to punish landlords who repeatedly have crime occur at their property....Shouldn't we just punish the people who are committing those crimes instead of pushing the blame onto someone else?! Third of all, this will create more paperwork for the city, and someone will have to do the work, and someone will have to pay for it signed, a very frustrated landlord

charlotte is trying it out..at first, it's advertised as a program to know the whereaboutsof all landlors..i can see it eventually becoming a tax however

Adam Furlough, we just had a meeting last week at the metrolina reia about this..i'm sure there'll be more discussion of it..do you go to the reia??

i have to second the oil based kilz recommendation...i had a house with tons of cats that was rank!! i did a few coats on the subfloor, installed new carpet, and you'd never know!

i gave a 10 day notice to a tenant in early december a few years ago..i remember her reaction exactly... "how you gonna put me out before christmas?" i said i wasn't planning on it as long as she paid her rent plus late fee...i'm not sure why people think you get a month off from the real world...

looks great J Scott...did you have to do any waterproofing of the basement? if so, do you mind detailing it? thanks :)

david, if you're personally guaranteeing the loan, which i suspect you probably are, it doesn't matter if you transfer the property-- you are still personally responsible for the debt...you may or may not be able to qualify for additional loans-- that depends on your credit debt to income ratio (with this new loan), etc.

oh now i get it..you are just trying to be a smart *** :) well since anything i say you'll say is risky, seems like a set up to me..hwoever i'll add that holding a note is riskier than taking the cash..who the heck knows the position of the seller..maybe she wants to retire and move to greece..like i said, knowing that would help

bill, not sure what the heck you're trying to say..in fact, it seems you agree with me..perhaps i misread..of course it depends on the poster's goals and equity position..but it seems easier to me to sell, take the money at once, pay the taxes once, and then have a lump sum to reinvest...most people can beat 8% easily right now...why bother with the risk of holding a note if it can be over and paid off soon????

Ace A., i think Tim Delp meant to say you CAN NOT put a rental propery into an IRA if you alrady own the property.that's a prohibited transaction...i think he had a typo..i think IRA's and roths are aweomse, but i actually think our tax code is favorable enough to rentals that there is little benefit to putting in an IRA or roth...i'm currently setting up a retirement account for myself, and mygoal is to lend out of it (small amounts to start)...with all the benefits of owning rental property such as deprectiation, interest write off, long term gains, 1031's, etc...i think it's better to own those in an llc and not in a retirement account