All Forum Posts by: Michael King

I don't understand what you are asking. Unfortunately someone died in your building at the hands of police, it sounds like the problem has been solved. If you're picking sides, I'd pick the side the cops are on, seems like the winning team there. 

MS Excel. I've used it for years for various things. Currently I use it for tracking costs and balance sheet for rental properties, calculator for deals, budget planner and as a daily planner/calendar. I haven't tried google spreadsheets and I loathe Apple's numbers. 

What do you use and what for?

@Aaron Rowell echoing @Bjorn Ahlblad warranty companies are not worth the effort or money. The only peace of mind you get is if you never need them, because when you do, it can be very difficult getting your warranty repair carried out. My last experience was with American Home Shield. I don't know how many times they came out to fix my pool heater, but it was in the double digits. It was the most frustrating experience I've ever had and I will never use them again. 

I have a home warranty on my home right now that I bought a year ago. The furnace went out in the middle of winter. Their technician had me waiting around all day and never showed up. Mid winter in Missouri. I ended up researching the fix and did it myself for free; it just needed a tune up.

While it's true that it's the contractors that work for the warranty company that provide the servicing, the warranty company usually calls the shots on who you can use and you are at their mercy.

I will staple gun my hand to the floor before I ever pay for a home warranty again. But you might have better luck with them.

You're better off having a list of reliable contractors you can call for repairs - particularly HVAC, plumbing, electrician and maybe a snow removal guy too. 

I always send them a text message receipt: "April rent received, thank you."

@Josh L. Thanks for the read, it was certainly well done. Plausible for me, too, as I spent about 7 years working offshore in oil and gas so a lot of what the phisherman was saying made sense to me. No cell phones but computer access, etc. 

@Alex R. I don't think tenants care to the same level as you do, about your property. If something's broken and they want it fixed, they'll tell you. 

I guess your lawyer has tapped into a new way to make money from real estate. 0 down, 0 risk, 0 tenant problems, pure cash flow. Lawyer hacking, perhaps?

@Sarah Young why don't you call your bookings to see if they are coming?

If it was me, I'd assume they're going to cancel on May 1st. Getting someone in long term now may be your best bet, at least you've got income from it. 

Fast way to $1 million? Get into aviation with $2 million.

Sounds like you have squatters rights now. 

Either house hack, increase your income or move to an affordable situation. I hope your wife is not pressuring you to find a way to pay for it like mine does. Those taxes are going to crush you.

Do yourself a favor. Get an affordable property that will allow you to start investing in real estate (rentals, BRRRRs, flips, you name it). Then someone will be paying for you to build a far superior house. 

Or wait for the crash that's about to happen.