All Forum Posts by: Scott Schultz

another thing to keep in mind, is what you will use the money for, if you Cash out, or take a HELOC and use the money for investing, or business operations, the interest is deductible, but if you buy personal items, like a fishing boat, or a camper, or say a vacation, then the interest is not deductible, either way, you dont pay income tax on the cash you take out. for example, I have a property I paid $25K for put $10K in repairs into it, it is worth $80K and I borrowed $55K cash out, I leveraged the forced appreciation for my 20% minimum equity to make the banker happy, and the bank gives me the cash knowing I will use it to buy another property with the proceeds. not all banks are comfortable doing this, some really dont like cashing you out on a great deal you got when the market value is well above your total investment.

my property manager does them on my behalf, I never even see the paperwork, but my company name is on the file, and the PM appears in court for me.

would you move out of your house if you are having a roof done? Probably not. 

Hire an exterminator.

And get rid of the bad tenants now.

As far as animals, I require renters insurance, I don’t know the law in FL, but in WI if a tenants dong bites someone, and they don’t have renters insurance, the victim can come after the property owner

@Prem Schoff you can buy property in any name you want, you can even buy property in my  name, I would actually prefer that if you did, i can pm you my address, where to have the deed sent.

you can do what you want, but the standard state approved lease is probably the easiest to be enforced if the need arises.