All Forum Posts by: Matthew Perry

I'm searching high and low for a Google sheet template that I can calculate income and expenses for our rental. Right now we only have one triplex.. but want to add more. I want a line that will add the mortgage payments total and somehow take those mortgage payments for the whole row (12 months) and calculate the paydown on my mortgage too with the interest rate. 

if it has a separate sheet to store tenant info, great!

please help! Thanks-Matt and Lyndsey

@Dan Heuschele we have finally found an attorney and are working to find the legal answers. Knowing about the agents insurance is very helpful. Thank you!

@Kevin Sobilo thank you for this information. It's good to know they have that in place. There are several people that could be to blame for the ball dropping but basically yes there was a contract but that line was not marked with an answer.. somehow it was missed by everyone involved. Us, not knowing much, didn't see it but there were many other professionals involved that somehow didn't catch it.

@Peter Walther then what does it cover? I'm not sure I understand this... we were not told about this, we didn't have any signed document saying we were taking this over. It was intentionally left out by the seller.

@Kevin Sobilo thank you for this. We had a contract and the disclosure page - the line about knowing about legal issues, or violations (however the wording) was not checked yes, no, or anything. It was missed.

@Chris Seveney we are attempting to fix. We used a trusted realtor who advised no attorney. We were going off of the advice of people we trusted and now we are stuck. It wasn't lack of using professionals... it was the wrong team we built.

@Carlos Ptriawan it's classified on the loan as a SF... a residential property... we are being treated like a commercial property though now, and based on building safety and neighborhood services... more problems keep coming up driving up the cost. We went from being able to tear down an old staircase, to having to rebuild because of fire safety and its been designed now 4 times and we have to now redo all of the gas lines and close up windows. 5000 dollar project is now estimated 60k and growing.

@Sarah Ziehr believe me... we are wondering why no one mentioned an attorney too. And the problem is... we were not told at all... of any of the violations so we didn't sign off. So we are seeking legal advice now.

@Steve Ehrman I appreciate the advice for the future... we have learned a lot during this. This being our very first property... there were a lot of things we didn't know and unfortunately couldn't rely on anyone on our team like the realtor, inspector, etc... which is upsetting.

@Peter Walther oh , it was reported. The inspections and violations had started 2018. There is a lot of record everywhere for this.