All Forum Posts by: Mike Hourihan

@John Calafato zillow.com is good and when you post an ad it also posts to a couple other sites. It was free the last time i used it but i read that they recently started charging something like $10/week. Well worth the money. It also has an optional rental application you can send to potential tenants and you can order the background and credit check as well

@Tim Stuart what is your projected CoC?

@Caleb Heimsoth most realtors make zero money long term?

@Justine Scheuher

I'm a registered tax preparer in MD. I have the education needed to get the CPA but havent taken the exams. I would charge about $250 for that. When you have a CPA firm prepare, your paying for those 3 letters and the fact that they can represent you in court. I am just as capable of researching and interpreting tax laws and giving advice. So I would say if you're looking to lower costs, look for an EA or RTP.

@Maya Torres I don't know what the landlord is paying you if anything but if youre doing him a favor by managing his property, he should let you make decisions and manage the property, instead of making your life difficult. You shouldnt have your hands tied over such a minor issue. Something like that could probably be handled for under $200 by having a handyman look for and plug any holes and replace the shower head. To go back and forth dealing with this is a not a good use of your time.

I would communicate firmly to the landlord that either you're going to make these small decisions yourself or youre not going to be able to manage for him. Tell him you're going to make the repairs and bill him.

@Michael P. What's cruel is signing a contract agreeing to pay to rent a property and then not doing so, causing the property owner to have to come out of pocket to cover the payments

@YiBing T. How did the eviction you mentioned in your post work out? I filed for the warrant last Tuesday so Im checking my mail daily for the approval. Do you remember how many days it took to receive the approval for the warrant? I asked the tenant to look for another place. I have another family ready to move in, so I hope the current tenant will leave this week

@Kathy Henley I'm currently refinancing 2 of my rentals with US Bank and I'm interested in a LOC. Do they require you to have a registered business and a minimum annual revenue amount? I called Bank of America the other day and they require 2 years business tax returns and I'm currently a sole proprietor.

@Russell Brazil

Seems about right. I filed the failure to pay on January 6th, but I was filing for December. Tenants had been consistently paying later and later and they kept saying they were about to pay and then suddenly they break up and the boyfriend moves out. She paid December after that, but hasnt paid anything since. After this experience, I won't wait to file. Now that I know how the process works, I know that I can mail in the ftp and writ so I don't have to make two trips to the courthouse next time. Today when I filed the writ, I took home extra copies of both documents for next time.

I just filed for writ of restitution today and was told that I should receive an approval in 5 to 7 business days and can then schedule.

How did this work out for you?