All Forum Posts by: Tim Kaminski

@Nathan Gesner  So in my example above, you would give them 2 weeks free but come Oct. 18th, they would be on the hook for the rest of October rent.  So your lease start date would be Oct. 18th?

Sorry to be specific, just want to make sure I understand fully.  I like the idea of 2 week grace period but nothing more.  The sooner the better.

So with the Deposit to Hold form:

Say it is Oct. 4th, I have an empty unit, and tenant is approved to lease my unit but they want to start Nov. 1st.  With a deposit to Hold, if they do become my tenant, I don't actually see any of that money.  The money turns into a security deposit, which they would most likely get back at end of lease.  Therefore my October mortgage payment is coming out of my pocket, correct?

I would only be able to get that October mortgage paid by someone other than myself if they decided they didnt want to rent it.  Am I looking at this wrong?  I don't like the fact that I am still on the hook for mortgage payment.

@Jason L. No, those numbers do not account for vacancy, maintenance, capital expenditures etc.

@Jason L. Tampa Heights Duplex near Armature Works. Purchased for $163k but appraisal came in significantly higher. Working on reducing expenses and normalizing rents but 1 side pays $900/mo + electricity, other pays $800 and I pay electricity. That lower paying tenant will be out by December so should have both at $900 and myself only paying gas/water. PITI is $1200 month so bringing in +$500 with plans on making that $600 by end of year. This is 1st investment property for me so while it is not a homerun of any sort, its enough to get me going.

@Jason L. Following because I am in a similar situation with a duplex in Tampa that I bought 6 months ago and was looking into ways to pull out money. Would it make more sense to use a HELOC then? Rate would not change and could still pull capital out. Correct if I'm wrong.

You could use a radiant barrier between the rafters.  Would imagine you would have to put up panels over them but they are fairly thin and work well.

@Nathan Gesner So do you always use a termination clause no matter the length of time between lease signing and actual lease begin date?  

So if they sign the lease with 2 weeks you require 1st months rent +security deposit, with security deposit being the money not returned if they change their minds?

Just trying to figure this out because it's a great idea

Have not heard of this before now but researching a bit into it shows 2-5 business days for payments to clear, like Cozy, and not being able to split rent amount with roommates, unlike Cozy.

@Marian Smith I looked at a few of the products that come with texture and they are twice as expensive with half the coverage.  Was going to add flakes or someother type of non-slip additive.

@Aaron T.  Lucky guy.  My surface area is just far too large to get done quickly so I think my best bet is to wait it out until I get 48hr of <90 degree sunshine.  I hate waiting but don't want to spend the money twice.

It may be the pipes in the walls vibrating against wood/expanding and contracting.  Have a seen many instances where it sounds exactly like a drip but no water residue is seen.  If it has been dripping for a while then it is going to show.  If you can locate the noise and do not see any water stain then you may just have supply pipes vibrating.