All Forum Posts by: Colleen F.

@Timothy Eaton  I am with  @Jeremy Brown  investment payback first then he is entitled to 50 % of the gain on the property not 50% of the property. Beside you aren't giving him $240,000, he gets the amount gain minus the mortgage. If you sold. So, you would split profits minus expenses. Now if you add his name to the deed and only you are on the mortgage you are the only one that has the $ liability.

@Jacob Hafer we use an application with no cost and then send a link for credit with a cost.  The no cost part includes previous landlords and permission to contact employer and old landlords.  If those calls pass they get a link for a credit check per adult.  I don't think you can get previous landlords with a zillow app.  I get the appeal of zillow but it just seems a bit skimpy.  You also want a good fit for your parameters. Longer vs shorter occupancy (e.g. if you have planned work). 

@Josh Mac are they wifi or cell phone based?  because the delay issue is a cell phone based camera not connected to wifi at all only on a cell network. I thought blink was all hooked up to wifi at least that is what i've read and I don't mean hard wired.   I have mine on the lowest sensitivity, still miss things. This garage location is too far to use wifi.

@David Travieso I have discussed with the tenants we have work to do and it is going to take x days, you won't have a bathroom?   do you have someone to stay with or will you need to go to a hotel? Most say I have friends/family  and I rebate the rent plus a little something. I have had instances where people wanted to stay but it wasn't a no bathroom for days situation.  I had one where we could wait and they went on vacation while we did it.

@Jerome Nunez  you really have to specify what you are including to get a good idea. Are you ripping out tubs and putting in a new shower? retiling?  or are you just changing a vanity?  Do you have 8 ft of kitchen cabinets and a new floor in the kitchen. It could be that high. If you are swapping kitchen cabinets the cost will probably be increased the most by the number and  type of cabinets. If you are gutting the bathroom, moving things, complete replacements will drive the cost.  You can decrease costs by picking nice but standard finishes. 

@Aidan Black there are few different down payment assistance programs in RI. There is one for a first time home buyer, one for first generation home buyers. I would do some research because if it is like the program in MA only certain lenders offer it. I am not sure if you have a downpayment how it works but it is important to see if you can get that boost. While FHA is great there might be something state specific that is better or just as good.

Just wondering what the implications are of changing a single member LLC to a multiple member LLC as far as current depreciation, basis, carry forward losses and any other issues. Consulting a lawyer and accountant when tax season slows down but has anyone done this? Apparently there is an advantage to a multimember LLC as far as RI inheritance tax but I am not sure in the end if it is better. I am also not sure if we would be creating an issue or solving one. A single member LLC may not have been the best choice in the first place but that is a separate issue that we may need to address.

@Kee Lee  since you said they were older it may be possible that someone became eligible for social security resulting in the change.  

@Kee Lee  and did I read right that these are section 8 tenants?  How would free rent even work? Do you have to report that to their caseworker.  I would terminate them if you could for causing the issue.

@Diane Kruse the only place where it made sense for us in a rental was when we had a stacker washer go and would have had to replace both washer and dryer because you have to have a unit that goes together, so we bought used.