All Forum Posts by: Tami R.

I decided not to do gifts, not because I do not like my tenants or appreciate them.  I just like to keep business separate from my personal life.  I do not receive gifts from my mortgage company and honestly when you have 70 or 80 rentals and give $20 to $30 in gifts that adds up.  But what I do try to make sure I do is this... I try to make sure we provide nice housing that's affordable and when something needs to be fixed we fix it.

I am losing it!  We have great properties in great neighborhoods... we own around 80 rentals and we are in the midwest so winter is a terrible month to have vacancies  We currently have 15 openings - the most we've had is like 5 but our tenants are moving out of state, buying houses, etc..  We are landlords that just wont rent to anyone but we can't find any good tenants.  We stopped advertising in the paper and pushing craigslist / Facebook.

Now I am wondering about other tools for listing rentals and incentives... Suggestions?

I want to simplify this...

If I was looking at buying a rental for $40k

Putting 25% down $10k

Rent is $650 per month yearly $7800 yearly

Mortgage is $274

Repairs $4,000

when I figure out cash on cash % do I add the repair or I am just trying to get a ballpark #.

What would the formula be and what is a good % - 10%?

Makes sense - flipping one or two houses then yes you would pay the capital gains but if we are looking at doing multiple flips a year then I would be considered a business (like our construction company) and we would not be paying the capital gains.

I do mine the 1st of the month for multiple reasons plus also for for court and evictions - - must be in the same month.

I was listening to the podcast today - love the fact about where David was going into a property 90-120 days and flipping it.  Purchasing it for 75k putting 25 or 27k into and selling for 125k.  My question is this... wouldn't capital gains be in effect for short term and take a lot of the profit?

I am more of a buy and hold buyer but we are interested in flipping as we own a const. co in the des moines market.  We are selling a house that we owned for over a year in iowa and my tax accountant said I would have to pay Iowa's 9% tax and then 24% long term capital gains.  

Spring is here and I am getting tenants contacting me about bugs in and OUT of their homes.  Currently I do not have anything in my lease about pest control.  Any suggestions on going forward with my leases.  I do have a bed bug form but nothing regarding pest control.

I am ok with my multi units but my single family units and spiders, etc... seems ridiculous - just curious about wording what people have in their lease?

I don't mind younger tenants at all but in my multi units I try to match tenants.  Putting 20 year Olds with 50 or 6o year Olds is not my ideal match.

We only have just over 60 properties.... used buildium and didn't really give jt enough of. Chance before getting frustrated and canceling. 

Now just using quickbooks and using classes for the properties it works fine.

I do want to.get a site where tenants can pay online

it could be ventilation ptoblems.  Too much and too little vents both cause problems