All Forum Posts by: Zachary Fisher

yeah that don't help but thanks

My wife and I still own our first home. Our 3 of 5 year limit is up this November. It's a small 3bed, about 1350ft2. With in the 5 years I have sunk about 45k into it. About 18 months ago Roof was complete rip off, everything new from all the sheathing, ice and water 50 year shingles. No expense spared. Put new insulation in attic about 4 years ago. New appliances in kitchen about 3 years ago, all stainless brand name. Replaced all well components, pump, tank and so on. New 200 amp electric service. New washer and dryer. Tub surround, bath window shower faucet. Built a small 12x20 mini barn with 2nd story lofts. Also did new boiler and indirect water heater 3 years ago.

So my question is keep or sell? I paid 120k for it. The market in my area has gone absolutely crazy With in the last 3 years.

My bank note is $1350, includes the money for all the repairs.

Combined taxes are about $3500 a year

Rent is $1600.

I fell like I'm not making anything off of it. So is it worth trying to sell for say 225k

I'm told if I sell in the next 6.months I dont have to pay capital gains, only income tax. Unless I invest in another property.

Mary I'm in NY

@Jennifer T. I did higher a repair person to come and check it out. Basically said it was from grease and dirt build up. They also broke all 5 knobs for the stove. Fridge still works but was left full of food and filthy dirty, besides the dents. I have almost 25 hours in cleaning the house. And they never left a forwarding address. Sorry for the late response just figuring out this app

Thanks Mary, good explanation! I do have a meeting with the attorney on friday. Where would I find out about the local landlord classes you talk of?

Good afternoon guys, just discovered this a couple days ago and have been reading no stop! I guess you can say it's my new addiction! I have a question about tenants security deposit and haven't been able to find much on it. I have a currently have one home that I rent out. Current tenants lease was up Nov 1. I have not returned the security deposit. Contract says I have 30 days to return. After they left I inspected and the place is trashed. New fridge has 5 dents. Stove/cook top is disgusting with grease every where. Bathrooms nasty, 2 broken ceiling fans, broken closet doors, list goes on. My question is what can I charge them for? Like the stove is 2 years old and it wont lite! I have to use a lighter to get it to fire. Fridge is 8 months old and all dented up. So far I have 14 hours in cleaning with 2 rooms to go and that don't count painting or fixing the 147 nail holes through out the house. Can I charge for my time? New stove, fridge? I'm in up state NY if that even matters. Thanks in advance!