All Forum Posts by: Karen R.

Consider becoming a master carpenter to start with if you are sure flipping is for you. Most carpenter unions pay for you to learn the trade via apprenticeships. I know here in Pa, they are begging for trades. You can also become a general contractor once you have experience in the other trades. Once you've learned how to fix darn near everything, you'll be in a great position to take that ten grand (which should have multiplied by now) and buy your first fixer that you can fix yourself. If you sub out the work, you'll be smart enough to know if your subs are doing a good job for you. 

Twenty years ago college was a great investment. With the huge debt that college nowadays carries, young people are working into their forties just trying to pay off the debt.

Just an option for you to consider.

I've rented to people with and without pets. I find that those with pets are so grateful to have found a decent place that allows pets they take extra care with your property. You can also charge more money upfront as well as collecting a large pet deposit. I find cats no different than dogs. You can specify your pet rules (put in writing). For instance with dogs I insisted they have monthly flea treatment as well as heartworm treatment. One dog is much worse than 2 or 3... one dog gets lonely and could become destructive when the renter leaves for work, etc. Two or three dogs keep each other company. I would also tell the renter you are likely to pop in occasionally to make sure rules are being followed.. and then pop in. You don't have to inspect,but you can take a quick look and a quick sniff... if it doesn't pass the sniff test, they're outa there.

Not necessarily true. I said that to my realtor who showed me mobile homes, duplexes, vacant land. We spent a week looking. I ended up buying a ten unit apartment complex on the water. Don't judge people so quickly, they may surprise you. I say go with your gut. 

Nicholas.. just an update. I found an IRS publication (523) and found I am eligible to sell for no taxes. I have been an owner of the house for the past 14years and lived in it until 2016 when I moved to Pa. I meet the residency requirements as far as voter registration, vehicle registration, state and fed taxes etc. It just means I better get a move on and list it asap. Thanks again for your help.

Thanks Nicholas

Hi Nicholas,

I now live in Pa,but deceased parents have 2houses next to each other in Fl. which I now own. Houses are on seperate deeds. I would like to sell both houses to the same buyer and use the proceeds to buy a rental in Pa and fix my own handyman special I now live in. I need rental income as my SS is a joke. I am 67. I would also consider selling the handyman house and rent the other one, but Fl. is a long way from Pa. What are my tax implications with the sale of both or one? Thanks for your help.

Thanks Rick, good information!

In Florida, sales tax is collected if you are renting out seasonally. By the day or week and I believe under 30 days. On top of that, some counties charge an extra percent.

I bought a house that had been empty for over three years.. mouse and rat droppings everywhere... Poison and rat traps everywhere... I still had rats after cleaning everything and moving in. Rats aren't only interested in food, they want a warm place to live as well. 

So, I invested in VictorPest Rat Zapper (Victor is the company that makes the original snap mouse traps) It runs on batteries and it zaps the rats with electric voltage, they die instantly. All you do is put a few pieces of dry dog food or cat food in it, turn it on... and zap. 

Trust me, this really works. The first week I had to dispose of 5 rats and since then I've gotten about one rat every two weeks. The house has two creeks running through and I've since learned that is also a welcome mat for rats. And yes, there are such things as roof rats!

No, I don't have any financial interest in Victor Pest and I don't sell Rat Zappers... glad you brought this up, its time for new batteries.... good luck

 Javier... How could that be proven? Second of all, the house is your property so it would fall under your insurance, not renters insurance. So remember that renters insurance covers what the renter owns. Hope this helps