All Forum Posts by: Mary lou L.

i think financing your new home would be the way to go. You use some for your down， put the rest in the bank where it will earn interest until you find your flip。then you have the cash and not have to wait for the heloc， and not pay their higher interest， no credit checking or paperwork. Its ready to go! 

Find your flip, rehab rent refinance, or sell and do it again! You will have money liquid in the bank ready for yout next opportunity! 

I wish i had your problem! Lol! 

i recently updated my lease to includes words about strongly suggesting renters insurance and added highlighted initialed blocks after the "rules" no tampons flushed in toilet, parking in designated spots, ( had to add that one after problems with lawn parking) ect, 

That way i know that we are on the same page, I remember being a young renter and not bothering to read "all that stuff". But I do remember one gruff older man giving me and my then husband the riot act on what he expected. No misunderstandings there! 

Then it was turned over to the property management company. 

Just giving encouragement! You are providing a service, a clean, safe environment to live in, people need you! 

@Account Closed  we just told her that she got the house and will call her with a firm done date. Thank you for the clause! 

I decided against the hold fee. As it was pointed out the house isn't ready and I'm not losing any rent because it's not ready. 

I'm really tightening up my procedures with adding some items to the lease, move in/out checklist, and really trying to make it all professional looking. Even though I have one house I am really looking at it in a business way.

I picked up some bad habits like exchanging deposit for cleaning. I just wanted a tenant and since I didn't have a property manager I let a lot of things slide. 

Now I am lucky he lives next door!  

Does it seem you are busier now before you were a retiree?  Thank you for donating! 

So then should I just tell her she got the house and will contact her with a firm move in date and then sign and collect everything( security deposit, prorated rent for May). On that date? 

Should this be in writing? How would I word this? 

I did a search and didnt find info exclusive to Texas.

I have an applicant that qualifies and wants the property, it wont be ready for about 10 days. 

I am planning on collecting a holding fee of 250 to be applied to her security deposit upon signing of the lease.  Non refundable if she does not sign the lease on ready date, as I am stopping any advertising for prospective tenants.

Just wanted to know and make sure i have this right, as I do not have a document in place for this. I do have one to prorate the rent, that she will sign along with the lease. 

I would love to connect with Texas landlords! I am an out of state land lord (CA) 

The rental is in the Wichita Falls area. Id love to also discuss trends and anything else pertaining to the area! 

Thanks!

Hmm great point! No complaints so far. I've also put coupon type vouchers to use towards rent when they wish. 

I should call it end of year tenant bonus! 

I know expenses at the end of the year can get crazy esp if there are children. So it's my  way to thank them. 

@Mindy Jensen

 I was looking for a thin sheet of wood to put over it .its about 1/4 inch, and the gap from the real wood to the particle board has a bit of a gap, not much but its there...I didn't know the board had a name...would (pun lol) it be near the plywood?

It does "give" a little as well...

@Bob B.

That is what I was wondering.

Does taking every single deduction/exemption and showing a loss make it more accurate?

Or can I just show the total income from rents and call it a day?

Edit: I do understand the banks position on wanting to make sure I can qualify for the loan. But am I shooting myself in the foot by showing a loss when I do not need to? As far as getting to 0 on the taxes owed and then keep going deducting more expenses from the rental income to show a loss?

My situation is kinda unique as I have non taxable income (Veterans Disabilty) so taking the deductions wont do anything for me as far as reducing taxes. (at this point I just take my exemption and my tax liability was zero before adding anything from the house.

I also let my ex take the exemption for our son because he can use it to reduce his taxes, If I took it on mine it would do no good.

Just trying to position myself for future loans/refinance options.

Other than Zillow, Redfin, ect.

here are three that I have used  that are exclusive to the Central Valley of California.

http://www.metrolistpro.com/

http://www.metrolistmls.com/

Merced County Board of Realtors

http://www.mercedcounty.com/properties/

I would think a master list would be nice..maybe a drop down list somewhere on the site that will give lesser known mls listings?

I just see commercial or land resources under the Resources tab. Is there another place for this type of MLS info?

Thanks!