All Forum Posts by: Wilson Churchill

I would try to negotiate and then sue if they won't budge. It may be settled in mediation before it goes to the Judge. Take lots of pictures.

Get a HEPA air filter and a dehumidifier. The HEPA filter will remove any spores from the air. Mold can't grow without water. Then spray any affected area with hydrogen peroxide or bleach.

I purchased a house a few years ago that was already re-plumbed with PEX. The tenants abandoned the house in the middle of winter without notifying me, and the lines froze. To my surprise, the PEX lines were fine, but the faucets and the pressure valve on the water heater needed to be replaced. I was sold on it from that point, especially since it has no scrap value.

This is probably the best tile to use in a rental, as far as appearance. I usually use the cheap (around 50 cents per ft^2) tile, but may switch to this style.

I issue a 7-day notice the first day they are late (on the second of the month, via mail), unless I have agreed to allow them to pay a day or two late.

Inventory in my target market has increased by 50% over the last few months, but prices have remained stable. During the crash, inventory was about 2.5 times what it is today, or about 4 times a few months ago. 

I don't anticipate seeing another crash like 2007 unless the banks start issuing liar loans again, followed by a sharp increase in interest rates. I do believe that we could see lower prices if rates increase. The biggest factor is how much they will increase. But with the Fed keeping interest rates this low and the possibility of QE 4, I can't say when that will happen. The monetary policy we are seeing now is unprecedented. Who knows what they are planning to do, other than the owners and executive of the biggest banks..

Pro: Paying cash can command a discount. The seller may accept an all cash offer below their asking price rather than an offer tied to a mortgage at full price, knowing that the buyer will be able to close and close quickly.

As far as "gurus" are concerned, I enjoyed Carleton Sheets' book. There is actually a whole chapter dedicated to the importance of credit and how to improve your credit score, including the "credit pursuit strategy". According to his website, his courses are now free.

What would you do with the money if you were to sell it? Compare the rates of return for selling and doing whatever versus holding.

Going forward I would add this clause to your lease: "NO PETS".

For the sub-floors, I would get some sodium per-carbonate. When mixed with water, it becomes concentrated hydrogen peroxide. Spray the floors with that and the urine crystals should break down.