All Forum Posts by: Sarah Present

Hi all,

I would really appreciate any input on this.  We had a short term lease with a woman who is living in our carriage house, the lease is written that the term is a 3 month lease, with automatic renewal for up to 3 months, month -to month.  Either party can terminate with 30 days  notice for any basis.  The initial 3 months has been completed, and she is now in the month to month portion.  We would like to give her 30 days to move out as our lease states we can.  My first question is: 1) is there a template for a letter that states that for Colorado and my next question is: 2)  Can this be done via email or does it need to be certified mail?  I would be fine with either if I knew I was covered.  3)  is there anything i could not be thinking of in terms of her disputing this?  

Thanks so much!

Sarah

We are in the process of selling a home and wondered if anyone can clarify on the detail of the 2 out of 5 year rule.  The house being sold, was last lived in on November 6, 2014 by us/the owner.  It is being marketed to sell now, so the question is, is it mandatory to be sold/close November 6, 2017?  Or is it by the end of the tax year?  What are the specifics on this to avoid capital gains tax in this situation?  Any help much appreciated!  

Sarah

I'm putting together a lease to rend out my carriage house - attached dwelling unit but separate entrance from the main house.  Are there any clauses that this situation would warrant that would not be in my standard lease that i use on other properties that are separate?  Thanks!

Thank you so much @ @mitchmesser and Ryan Murdock!   (I can't seem to do the "mention" correctly :) )

We have a carriage house that we were planning to put on home away or other site similar for weekend rentals. However recently a neighbor though our neighborhood app was seeking a one bedroom rental for 3 months while her daughters family uses her home and looks for their own.  This seems like a nice arrangement - but is a lease of any kind in order?  I'm wondering if some type of month to month contract would be sufficient, or how extensive it would really need to be.

Thanks!

Sarah

@Ed E. - thank you!

@E

@Bill S. - Thank you!

I just rented out my townhouse for the first time ever, to a very nice couple with a baby.  She recently sent me a request to have the place exterminated because she noticed a lot of spiders.  We live in colorado, where it is common to have spiders.  But i just moved out a couple of weeks ago and in the 4 years i lived there - there was never an unreasonable amount of spiders.  Beyond that, i have never heard of anyone exterminating spiders!  Based on the thread up to this point, I would also include there is nothing in my lease stating i would cover pest control.  So what should I do?  I don't want to give her a hard time and I don't mind making an inexpensive concession, but this has come after she complained that the cleaning and carpet shampoo was not good enough.  One week into the lease, i'm wondering how to protect myself from this renter constantly asking for unreasonable and endless requests.  Please help!

"I started with no cash, negative net worth, and a pocket full of dreams. My goal was to be able to wake up whenever I wanted, wear flip flops every day, and do some traveling :) After a lot of hard work, help from others (mostly on BP!), some leverage, and a stroke of luck, I was able to build a portfolio of high cash-flowing properties in the San Francisco Bay Area"

So this portion above, is what I am trying to understand and grasp.  I am currently in that position.  I own the townhouse I am living in, but am at a point where I have no savings and my credit recently took a hit from a debt management company that screwed everything up on my credit.  How can I start, where can I begin to build myself from this place?  I currently have a 9-5 job and even though it is decent, the leftover money after bills and responsibilities will take a very long time to accumulate anything substantial to start with in RE.  Any advice on some stepping stones for me?