All Forum Posts by: Martha Daisley

ok thanks!

Hi guys

Quick question, can a landlord non-renew a lease without giving reason as long as they give the tenant proper notice? Im in Florida.

Followup question, if two people are on the lease and one wants to leave upon renewal but the other wants to stay, can the landlord  still non-renew the one that wants to stay if you dont want them there anymore?

Thanks!

Martha

Thanks for the referral @Dave Foster.

@Robert Hetsler, ill email you. Are you in Orlando Robert?

Martha

@Chris Mason. Thanks for the explanation. Is your company a REI friendly lender?

Martha

Man, you guys make alot of good points from both perspectives!  Thank you @Sam Ally, thanks for that explanation, youve given me alot to think about. First thing we need to establish is our goals and how we want to get there. @ Patrick Liska, Jacob Pereira, all great points.

 We put like 9k down down on the duplex when we bought it almost 4 years ago. I have not accounted for repairs which is a good point. I have to factor in how much ive spent on repairs and upkeep. I just put out like $1600 into rennovating it after this tenant moved out and earlier this year i had to get a new dishwasher ($600). No repairs last year.  I just raised rent so the next tenant in there will be paying $1000 per month which will increase the cashflow to $650 a month (not counting repairs). 

I may seek the advice of a financial planner to help us sort out how to best reach our goals(if you guys know of any good ones, let me know!). We do want to be financially free (living off of passive income) whether that be from properties or interest from stocks or both. i think we're on the right track i just think we need a more solid game plan.

Merry Christmas everyone!

i think so yes. I just raised them to market value at both duplexes

Thanks again for your responses guys! Lol @Dave Foster. Its like mid to high 70's in Orlando, im sure its like 80 in st pete. This winter is just brutal man. Lol Thanks for your explanation. 

Hello everyone,

I am looking for a financial planner that has experience both in real estate and in the stock market. My husband and I have two investment properties with tons of equity, two  businesses, money saved but very little by way of retirement accts. We are trying to figure out how to maximize our assets to work for us.  Our goal was to keep collecting investment properties and living off the rent income. One of the properties makes us $550 a month in income after mortgage, taxes and insurance. However, we only owe 35k on it and the way the market is right now, we could sell this property for 125k and clear 80k after realtor fees. Would it make sense to keep it and get the rental income or to sell it and put that money into a taxable investment account? I heard if you diversify your index funds well you can make 10 to 20% return per year on your money. That kind of interest return on 80k would be pretty significant.

Can anyone advise on this scenario or recommend a good financial planner?

Thanks!

Martha

ok thanks! Both my husband and I have excellent credit, we've never had a problem getting loans. They are just a pain to do cause he has his own business (self employed) so they want to see all this extra documentation, however he makes awesome income so in the end we get them. Just more hasstle and paperwork for me. Lol.  I was looking into private lenders however it looks to me like most people who want to hold the properties just end up refinancing to get a lower interest rate. For my first two i went directly to banks and got 30 year fixed on low interest rates. What would be the benefit of using a private lender then? Less hastle? Lower down payment? Get the money faster?

Thanks!

Martha

@Patrick Liska and Bret Sorrenson thank you both for your comments. 

I may be able to get another one without getting an equity loan. We do have money saved so i think we could do 10 or 20% downpay depending on price of property. My question would be...would a bank still finance me since i have 3 properties. My primary residence plus two investment properties. Also let me add this to the mix. The second duplex i have is in a not as great location, its a 3 bedroom two bath but it only rents at 100 dollars more than the 2/2. I have a tenant in there thats always asking for repairs so this ones been more of a pain. However i still clear 500 a month on that one after expenses. I owe 50k on it, bought it for 70k. It would sell for 110k right now. Would this one make more sense to sell or is the cashflow still good enough to keep? I think i would only clear like 40k on this one if i sold.

Martha