All Forum Posts by: Richard Ring

@Sean Morrison

Well said 👍👍

@Derek Wilcox

Hello.Derek

I used a Va loan to buy current SFh

At the age of 63.

Its a small 3/1 2 1/2 garage

Yes that is my plan as well

Rehab this house ( as per Va rules )

You keep this a your primary residence for atleast one year.

During this year of rehab around 10/15k .

Then rent it out.

@Martin Neal

What would your your mortgage lender say if you are late they wouldn't put up with that so why are you second I would get a property manager ASAP I would distance myself from your tenants as quickly as possible in a reliable and dependable people you'll get that with a property manager with better screening and vetting

@Ashley Gish

So tell me you went to college to be smart but you can't figure this out a new a no-brainer you have over 200k in debt and it's reported on your credit report . Dissolution should be crystal clear pay off the high debt student loans and go invest in real estate.

@Mike Krieg

Well said you had many good points of advice

@Jayne Rocco if you had then convicted then it will go on their credit report it may be very hard for them to rent someplace else also you can file Criminal charges and all the repairs are tax-deductible it is cost of doing business

Also , do you have a PM

That is "Their Job " to screen your tenants. PM's generally only change 10% of the rents. It is well worth the invest to have them also you can write them off as a expense as well

So the bottom line :

Dont do everything yourself

@Dustin Thoms

Do you have a LLC ?

Of course you can move your properties to the LLC problem solved

@Travis Kemper

I would replace them ASAP

Lumber is cheap compared to a law suit ...Duuu a no bainer?