All Forum Posts by: John C.

I keep 2 months of holding cost (mortgage, taxes, insurance electric and water) and insurance deductibles for each property.

I have a small emergency fund and save for planned repairs/updates.

@Charlie Moore

For the love of God and everything under the sun Charlie, go talk to a CPA.

@Doug Peters

You are talking 3%......$4800.....

do it, it's sold, walk away.

@Jordan Little

Grade the lot first, it's cheaper and if you still need to encapsulate the craw space I am sure you will still benefit from the grading.

@Elenis C.

I would fix immediate health and safety issues and issue a letter stating you are not going to renew their m2m lease according to your state laws and regulations.

I had a tenant who's dryer plug did not match the plug in the unit.  I told them they can buy another to match and replace what they have and have two in case they run across this again.  

I got a BS call later that he said his warranty on his dryer would be invalid if he changed the cord on his dryer.  LOL

I charged him material and a service fee that was worth my time to change the plug.    

CPA, H&R Block.......

Take a look at Landlordmax.   Relatively cheap it should do you well and you can grow with it.  Or try making or finding a spreadsheet and you always have quicken.

Billy,

I would try a local bank or CU.  See if they will require the 20-25% IF the appraisal comes back as you suspect. 

I have had success using a local bank using there ARV appraisal for no money down (all numbers, closing cost, repair cost and down payment were all within the banks requirement of 20%).

 Call DHS, department of health and services or equivalent department in California.  I have not had the pleasure of dealing with Section 8 yet but I’m not sure this is something they take care of.