All Forum Posts by: Matt S

i take rent in form of electronic transfer to my account (not again) so do you think i can just cut the tenant a check for the amount paid?

I provided my tenant a 3 day pay or quit notice on Nov 10th for the Nov Rent. I received half of the rent this morning. Obviously I need all of it. But my pay or quit notice indicates the full amount of rent that is due. Do I return the portion of rent I received and demand the full amount or accept it? My concern is that my pay or quit notice is not reflective of what is now due. Thanks.

Linda, if only all of them had your drive and determination.

Not 2 months late. Last month was paid late...and now this month has yet to be paid. Going to courthouse tomorrow to file eviction. Already gave the 3 day pay or quit notice.

Is there a place I can find a sample form for free for my state? Transfering a property to my LLC, doesn't sound too difficult so I figured I'd do it myself. But finding the form for free is quite the task. Does anyone know where I can obtain this form?

I think I see what you are saying....as my rents increase and the principal is paid down my spread increases, thus the risk is minimized. Thanks.

in general is there a rule of thumb when it comes to how much $ to set aside for each rental property. $ that would be used for repairs, to cover late rents, etc...?

I have a tenant who is now late 2 straight months and i believe we are going to have to evict. But I'm looking at probably covering $2k in mortgage(2mths) and any repairs...I can't see how if you had 5 houses and this happened how any of you are still in this biz? What is the trick?

Is it just me or are most of them not worth their commission checks? Looking at properties that are already UC, just lack of urgency. I am getting my license. Any suggestions on the least expensive path to accomplish this?

Also, I use realtors b/c I don't market. I'd like to market just holding onto $'s right now. I know I need too.

Thanks. Creditboards is a good site.

Thanks J Scott. I am trying to build business credit so that in a year or so I can start to qualify for commercial loans for my investment properties. Will I absolutely need too? I don't know. But I just want to be prepared.

If I obtain a DB number, do you know if there is anything else I need to do with DB besides just obtaining the #? Like I said, I am going to apply for credit with HD, Lowes, and Staples/OM.