All Forum Posts by: Mike Hanneman

I'd call them every day if the landscaping is not in by the end of the week. Be the squeeky wheel. Get your other neighbirs in on this too.

If it's just $50 to you then why are you here asking this question? You had multiple responses and don't want to do anything about it. Have fun continuing to ask for rent every month!! Good luck with your landlord "hobby." 

Sorry this has happened to you but it goes to auction in 3 Days!!! These are questions that should have been asked a month ago or more.

Also if sub metering is too expensive or if it makes the units not rent as easy look at replacing toiliets. Old toilets can take as much as 3-5 gal per flush where the new ones are around 1.2 - 1.8 gal per flush. They are under $80 at most big home improvment stores and are an easy do-it-yourself job.

First thing is to get an emergency fund, you should have this weather you rent or own property. Then purchase a house to live in. You save the $400 a month you are talking about and you start to pay yourself vs paying a landlord. You get the mortgage tax deduction, paying down your loan, and then hopefully appreciation. Add that money to pay down your debt, and be looking to consolidate your debt during all of this.

In a perfect world yes pay off all debt first, then you can buy your personal home, then start investing in real estate, but how long down the road is that going to be?

A good area for cash flow and cheaper properties ,that is a lot closer to you, is in the midwest. Look at Ohio, Indy, I have even heard parts of PA.

Talk to your tenant and let them know you are recieving complaints from a neighbor/s and maybe they can remedy the situation. I wouldn't let my tenants have a dog that constanly barks desturbing other people. I wouldn't evict though either, just let the tenant know you are not happy with the whole situation and there could be issues headed their way. Don't ignore this, it will only cause problems for you later.

You can't design a roof to function without gutters all the water from the roof will fall right below the roof line and cause flooding plain and simple. Gutters need to be installed to direct water where it will run away from the foundation.

Not sure I'd press the issue to have the seller install these, but They do need to be installed one way or another.

Also don't demand tenants to clean gutters, it won't get done and it's to much of a liability for you.

It will tell you in your state specific landlord-tenant laws. You need to read these and it will tell you how to go about security deposits.

You should listen to the market and do what it tells you to. If you can save money by buying your personal resident vs renting, you should do this. If it's cheaper to rent then rent. Do what would make the most sense for your finances.

You can take it one step further by house hacking, try to find a duplex and live in one side and rent the other. You can get better loan terms but you do have to live there a year, but then you can repeat and by another duplex, after a year.