All Forum Posts by: Julie Dike

I had a rental in a rural area, where tenants were hard to come by.  So while a 3 year old eviction would normally be a big fat NO, I can identify with a need to take a closer look at the rare person who wants to be a tenant.  I have also seen how roommate situations can get hairy.  If tenants are thin on the ground in your area, I'd try to contact his former landlord and his former roommate, if possible.  There's a chance that one roommate was reasonable and either moved out in a timely manner or paid whatever rent he could afford, while the other roommate just dug in his heels.  If they're both on the lease, they both get evicted. 

The banks and credit unions that cater to the military community know all the ins and outs of VA loans. I have not done a renovation loan, but I'd call USAA, PenFed, Navy Federal, etc first.

The thing about the credit cards you got in college is that they’re always your oldest accounts. They will forever help you by boosting your average age of accounts. Car loans and real estate loans come and go. Having a bunch of new credit cards can lower your score, but having a bunch of old ones that have a clean record works in your favor. Having credit available that you’re not using demonstrates that you’re a responsible spender. That doesn’t mean you need to keep every card you’ve ever opened, but choose a few of your oldest ones and take good care of them. They’ll keep making you look good long after your last mortage refi falls off your credit history. (Assuming, of course, that having those accounts open isn’t tempting you into stupid spending. That’s a different problem with a different solution.)

Having lived in a rural area, I'm immediately suspicious about a whole neighborhood for sale at once.  Is there a pollution problem?  $200+ sewer bills?  Factory shutdown?  No internet service?  School district rebuilt further away and now the bus ride takes an hour each way?  

Hopefully I'm wrong and it's just a landlord retiring.  

I love this idea!

I searched online for a CPA in my area, and every single one of them offered free consultations (not necessarily in person).  I found someone I'm comfortable with that way, and it's going to cost me $200-300 dollars to get my taxes done next year.  

Up until now, I've done my own taxes.  My dad, a dedicated DIY-er, taught me when I was in college, and I just kept learning.  Adding a rental property wasn't terribly complicated, once I wrapped my head around depreciation.  This year we sold a rental property, and I've decided it's time to bring in a professional.  Keep excellent records, and you won't be up a creek if you change your mind later.

I've dealt with a similar situation.  I made a few calls to different tow companies, and ultimately needed to find a company with a salvage license.  That enabled them to dispose of an abandoned, non-operational vehicle more quickly, vs. other tow companies that would have to store it for some time period in case the owner claimed it.  At least that's how I understood it.

Our situation also called for a snatch truck (due to space limitations).  Just throwing that out there in case, like me, you've never heard that phrase.  Things you learn!

@Nathan Gesner
Rott.  Weilers.  I'm dying to know what they consider "high-end custom furnishings."  Please tell me it was an indoor hydrant and stairs for the dogs to climb onto the bed.

If you own your own home in the area (or know someone who does), the amount you're paying for homeowner's insurance is usually a reasonable estimate.  If it still looks like a good deal, it's worth a call to your insurance agent.  They can give you a quote, and even advise if any features of the property have a strong impact on the premium.  

Who maintains the lawn? Who is responsible for utilities?