All Forum Posts by: Jim Shepard

You can pay this year before December 31st what is due next year and get the deduction on your 2017 Federal form. As an example my Illinois property taxes are due July of 2018 but I am paying them this year.

It is critical that you leave the ac on in Florida to remove the humidity. Otherwise you will be fighting mold. We also have a humidistat installed in our Florida house that only kicks on the ac when the humidity reaches 65%.

I've used the Kwikset Smartkey system for years. Easy to install and change the key during tenant turnover. The system doesn't have a master key which is a disadvantage. I am thinking about changing all my deadbolts at the front doors to a digital Kwikset Smartkey. You can put up to 16 codes. That way you have one for the tenant, another for repair people, one for yourself etc. Change to door knob to a passage / hall knob. That way no more tenant lockouts! You need to change the batteries every year. You might also look into LandlordLock.com. They have the capability of a master key. I bought some for a new rental but had some problems getting them to install so I ended up installing the Kwikset system.

@Mindy Jenson Maybe Mindy can help out.

Here's my take on 15 vs 30 and there are a 1000 different ways to look at it. I got into RE investing in my early 40's and I just turned 60. I didn't need cash from my RE investments and wanted dollars for retirement so I went with 15 year loans which are now paying themselves off. No more debt! Time to retire and sit on a beach sipping on my margarita. Some will say I could have bought more properties using 30 year amortization. My other business kept me too busy to try to add more than 2 - 3 houses a year to my portfolio. I think you need to decide what is it that you are looking for and what is your end goal?

I had to really laugh as I read the comments since employees drive me crazy. For my day job I own Subway restaurants. People ask me what I do for a living and I tell them I own "Adult Daycare" businesses. After 25 years I could write a novel on this subject! I actually just sold 3 stores a month ago. 35 employees gone - BAM! 2 more stores next week - another 13 gone. I hope to be employee free in 6 - 8 weeks. 75 less problems to deal with in the future. As far as employees and trash at a job site, I always require the contractor to clean the house up the last 15 minutes of the day. That includes picking up their cups, bottles, sweeping the floor, etc. I always tell them "Your momma don't work here, clean up your mess"!

It's their house, so it's their rules! There is enough offensive information on the internet to view and I for one don't think we need to see it on a site devoted to helping us increase our RE knowledge. I am far from being "politically correct" but there is a place and time...this isn't it!

I make it optional in my rentals. About half the tenants have a refrigerator and don't need one. For the tenants that need one I charge an extra $25 / month.

My brother is a plumber in Loveland, CO. The poop buckets are there as well. He has found many at job sites that have porta potties provided. He told me "if you ever see a 5 gallon bucket with a lid on it. Leave it that way"! Its usually the imigrant workers that do this for some reason?

I would go ahead and give her a non-renewal notice. I believe you only have to give them a 30 day notice in Florida since they are m2m but check the landlord / tenant laws for the state. She sounds like she is only going to be a problem particularly since she has brought up the disability card. If she tries to send in the signed lease I would tell her the offer is off the plate. Then do whatever remodeling you need to do. Then rent out at market rents. You eliminate a problem tenant and increase your cash flow. Win win!