All Forum Posts by: Henry T.

It's hard enough to manage a property across the street, rather than one across the country with zero experience. Forget it.  Sell it (you'll pay no tax), and put the money into a high interest money market fund. You'll probably make as much monthly income or more, without having to unclog someone's toilet or fix a sticking entry door. You'll also avoid property taxes, maintenance fees, insurance, property management.  If you want to be a landlord, then sell it and by one down your street. Since this is an inheritance you wouldn't need to 1031.

Forget it. Or you take the garage and legally rent the house. Forget what your agent is telling you.  Forget Washingtonn sttae, go to Idaho instead, they're much nicer to landlords.

I’d be scared too. What you’re doing is working. Can you hang on and save $$$ for another year, put yourself in a better cash position maybe? You’ll need a good cash pillow for the unexpected. Don’t know your kids age, but hopefully there’s no hurry.

Go to a bunch of open houses. Realtors are usually happy to talk. Get a job helping a handyman. Work hard. Earn money. Save your money. Buy affordable and get some room mates to pay your mortgage. Do it Calvin.

White. Shaker. Plywood if you can. 

Have it written in your lease exactly where the tenant/s are to park. Paint an outline if necessary. Then, If they don't follow the rules send a notice to fix or leave. any car on the property must be licensed and operational. 1 car only. all other cars must park on the street. all guests must park on the street. whatever.  No dead cars. No cars on blocks. Servicing to be done somewhere else. etc. Your neighbors will thank you. Be specific. Be firm from the get go.

No. But it depends. If it's a large house, it's probably expected. All of my houses are two beds or smaller. I don't provide them, and never has it been a deal killer, not even mentioned. I stay away from machines of all kinds, providing only what's absolutely necessary.

interviewing possible roommates is definitely swimming in murky waters. Most of those  I knew, and didn't worry too much about their responsibility.  Once you're financially secure you can move away from it. You're doing great and congrats on your getting ahead. That's how it's done. I dont think the burnout ever goes away, whether its roommates or tenants in general, and with all this anti landlord stuff its even more stressful today. My tenants know I'm on the edge. "one little thing, sold" I tell them, but I've been going over 40 years now. Look at me sideways and I'll sell that building right out from under ya! haha! joking really. Keep rockin!

Get an old one, they’re much more reliable. 

Though I am totally against cash for keys. Have a face to face with the goon and tell him I have an attorney here that will put you out on the street with an eviction record for $$ (make up a number $$700), or I can give that money to you with a clear record. Here's the conditions that you will follow to the letter....Then have you sewer line scoped before you give him a penny.