All Forum Posts by: Samantha Soto

@Tyler Kassner which city/state are you buying in currently?

Welcome to BP!  I am also from So. Cal, although investing out of state due to the high entry cost in So. Cal.  Working on that though.  Always looking for a good attorney, and have much more trust in one who practices what he preaches and gets out there investing himself!  My dad is a real estate attorney who never invested a day in his life...puzzles the hell out of me!

Looking forward to attending this!  Thanks for posting it.

Is this a cash only purchase, or are there options to finance?

Thanks @Mark Nolan!  Just eager to be able to do another deal, but it would be much easier if we could use the combined amount!

My husband and I both have Roth IRAs. I also have a regular IRA. So I have two questions. First, Can we combine our Roth IRAs to do a deal? Or do we need to keep the funds separate and I can use my Roth to purchase one deal and he can use his to purchase another? Second, is there a benefit to using the self-directed Roth IRA vs. the self-directed IRA?

Learning a bit more every day!  So thankful for this BP community.  

Thanks @Kyle J., very helpful info!

Also speaking as a tenant, I think a response within 24 hours would have been reasonable.  These people sound rude and ungrateful.  

As a tenant, we lived in a house that had a rat problem.  We should have known when we found a rat trap in the closet on move in day.  But we didn't actually have issues for a few weeks.  When we called the landlord, he blamed us for the rat problem and said it was because we had cats!  Then he tried to say that there had never been rats before we got there (despite the rat traps that we found on the property!)  Didn't make any sense at all.  We have always had cats, but never had rats before.  What it came down to was there were holes in the kitchen that connected to the crawl space.  We finally got sick of dealing with the rats and cleaning up after all of their poop and pee without our landlord doing a damn thing, so we went to the hardware store and bought some of that expanding foam caulk and filled the holes ourselves.  

It sounds like you are a decent guy and you are not trying to be a slum lord.  It also sounds like they are overreacting.  Rats are annoying and gross, and should be dealt with in a reasonable way.  Offer to come by and patch up holes and perhaps offer to buy a few traps or some poison.  No need for an exterminator unless you have an infestation.  Set some firm boundaries with your tenants.  Don't let their stress throw you off.  Keep calm and handle the situation rationally.  

I think @James Wise hit the nail on the head!  It doesn't seem worth the battle, and you will be paid for every day that the tenant will be occupying.  I would not feel comfortable with the tenant using the security deposit for the rent...but I guess technically if they paid first and last month's rent when they moved in, plus an additional security deposit, I would let it go.  If you have a separate security deposit on hand and the agreement was that it would be "last month of rent", then makes sense to let them use it as the last month of rent.