All Forum Posts by: Peter S.

You should absolutley refinance. Not only the existing mortgage, but all the way to the max value of the property. The longer the better. Read through the forums and you will never hear anyone say that they will cashflow in 8 years. Most investments are cash flowing from day one. 

Florida Attorney here. 

I just went through the same process with two inherited tenants in Brevard County. All the tenants on a month to month verbal lease or expired written leases. I came in and made everyone sign new leases immediately. 

Florida is actually a landlord friendly state if you are only looking for possession of the property and no back rent or other damages. I had my tenants out in about five weeks. Granted it was probably easier for me since I'm an attorney and I filed my own pleadings, but it is not a complicated process. PM me if you want any advice.     

Other than for a very short while, i cant see paying pmi as part of any long term investment plan. 

Been here in Miami for 40 years. 

Every other week from May to November. Every three weeks during the rest of the year and youll be fine. 

With painting its all about prep. Agree with the others on the tsp just to get grime and stuff off the walls. Then use kilz2 latex primer. Then use a upper mid mid grade brand of paint and you should be fine. Sherwin williams is a good brand. Most people have coverge problems when they dont properly prep, especially if you have big color changes. 

I use zelle pay, which seems to be the go to way to pay across major banks. Funds are available immediately and there is no cost to ither the sender or recipient. Cant beat that.

Those numbers cant be right. If a landlord had to pay 20x-100x the monthly rent to regain possession of a property, it would crash the rental market of California. Most simple evictions can be finished within 90 days if all you seek is possession of the property.

The "going rates" for cash for keys on a residential foreclosure could be what you are thinking of. Some foreclosure cases can take years. Evictions are much quicker.   

Big nothing info. At the end of it is some "guru" wanting a few grand to impart some knowlege. Then they direct you to a loan company where you rack up one debt to pay another. 

Just send in additional principal each month. There, i just saved you 2500 bucks. 

I provided all new appliances to my tenants. My lease says that the tenant is responsible for the service call. Then they are responsible for tenant damage. If it is a defect or normal wear and tear, I pay for it all. 

I went 24 inch tiles with 1/8 inch grout lines. It hurts the wallet up front, but it is worth every penny. Indestructible and can always be made to look like new with a good sweep and mop. We installed tile in one unit and about five days later we had a pipe burst and flood the unit with about 1/2 inch of water. We lost baseboards, but the tile was perfect. If it had been any other flooring, we would be out about a thousand bucks. Instead, we squeegeed it up, turned on the fans and an hour later it was back to perfect. Had another unit where we were doing final touch-up paint and the contractor spilled a gallon of paint. Quick cleanup and it was like it never happened. Now I dont have to worry about tenants messing it up.