All Forum Posts by: Thomas S.

Hire a lawyer to do the eviction based on her not paying for fines issued by the co-op. This is your best option but if she pays you are still stuck. Check to see if the codes allow you to evict to allow owner occupancy. If this is allowed it should be your first option. If you try something else first and fail going this route second will very likely be viewed as retribution and be denied. If you can evict for personal occupancy it's time for you to move. Your lease provision is useless if it contravenes state landlord tenant codes. It most likely is a contravention of codes. A lease is a lease until it ends.

Jessie Nunley Increasing DP does not increase cash flow from the property. All you are doing is pay cash to save mortgage interest. That does not increase cash flow it replaces a mortgage with cash at a return of 4-5%. You need to earn back all that cash before you can count it as a positive. ROI reduces the more you invest. Not a smart investment policy. When a property can not cash flow with a hypothetical 100% financing the property will never produce positive cash flow. It is a bad investment when the only way it is positive is through cash injection to produce artificial positive cash flow. Buying cash flow as opposed to having a investment property produce cash flow is a terrible investment strategy.

Mark Cruse "How can you not know your own cashflow" Simple, cash flow is based on expenses over the life of the ownership of a property. You can guess at what expenses you may encounter but can never know for sure. You can not predict a bad tenant being evicted or the amount of damage a tenant may cause. A bad tenant can do tens of thousands of damage to a property. You do not know what expenses you will have until the very end of ownership. SFH are particularly high risk in this regard. One tenant one roof, normally 50% expenses on a property where price is driven by home owners. One bad tenant can drive expenses through the roof. Over the life of a property a SFH will have very low cash flow. The only high cash flow SFHs are those where the owner is not calculating expenses long term. They only see yesterday never tomorrow. Cash flow is always a guestimate.

It is not the brand necessarily, it is definatly the fact that it is only 4mm. You must use thicker/higher quality laminate for a rental. 4mm is only suitable for light duty. Buy the thickest you can find or use vinyl plank.

I do not rent to families, prefer seniors, so your plan to turn it into a 2 bed would be my choice. You may make less money but the quality of tenant, ease of management and less wear and tear on the property may make it worth while. It works for me.

I don't see an issue, It's her land let the neighbour put the fence on the proper property line. I don't see why people get into pi**ing matches over something that does not belong to them. Little wonder neighbours do not get along. Time to grow up and respect the rights of others. "Looks like my mom can claim the land according to California law." Pathetic.

I have driven vans and had trailers for 40 years. Never felt a pickup truck was as practical. I like being able to lock up all my tools safely inside a van and can carry a 4 X 8 ply with ease. Trailer is for all the dirty stuff. Can't beat the versatility of a van and trailer. I have 1/2 a dozen different trailers, utility, flat bed, dump, etc.

Are you actually prepared to operate a business. It will take a great deal of time to do successfully. Real estate is not a passive investment. You should speak first to a financial advisor and see if they have any better, more passive, options.

Stainless steel and granite are a waste of money in any rental except class A properties. Landlords do stainless and granite for their own personal satisfaction. They will not garner any higher rent. At the end of lease just give notice to raise rent to full market and don't waste your money on frivolous upgrades. You are throwing your money away needlessly. Most tenants are not a dumb as many landlords believe. They know asking what they would like is sucking up to justify a rent increase. You fix things when they are broken, replace things that are not working. Raise their rents annually without guilt. It's a business. If you want to spruce a place up you do it between tenants, paint and new laminate counters if necessary. I live in a community of 350K homes, all with laminate counters, if it's good enough for me it's good enough for my tenants.

You can shoot for whatever you want but you will never know what your cash flow is until the day you sell. till then it is nothing more than a guestimate based on the uncertainty of the business. SFHs generally have very low cash flow. Mostly an appreciation game.