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Updates, musings,. good and bad news on rentals

February 27th, 2014 at 09:09 am

Quick update

I have been working w this Mint.com site and it is helping me see sortof hidden areas (fastfood, misc stuff, auto withdrawels) etc.. Very good for that

Having a hard time getting my transfers to show up correctly in an easy way(I do all sorts of transfers from account to account to savings and the LLC for the real estate..) but working on it. I may just drop them from the budget.. do not to waste time and I am using mint to get a handle on my unfixed costs.. food, misc etc..

Good idea to do.. and will definately help me track things in the future. Overall food costs (w fast food) probably will end at $390 for the month (includes grocery misc). I think this is super high.. $28 a month for more auto withdrawals I need to cancel.

New renter for that one home is looking positive. Income proved out. Hoping to sign a lease tomorrow or Sat. I will keep all security for current tenant (current property manager says we may need to do some misc cleaning but overall looks good)..I am going to suggest we give the renter a break of some amount and have them clean.. I will use this extra windfall (security deposit) to build back up the repair escrow (that the prop manager holds) which suffered that large expense last month of $2000 for water.

Asked good property manager which homes she is intersted in..

Still waiting to hear from other guy. Maybe he did not get message? not good sign.

Water company is 'waffling' on reimbursement. Talking to president tomorrow. This is the EXACT reason I do not like the current property manager. I may be stuck with this $2000 bill because things were not run tightly. Upsetting. Bill he gave me was not detailed. I will ask him for a detailed bill and then call water company president. VP said 'you know we are just a small company. we do not have a lot of money.."

Will set up consulting work this weekend (start getting that organized)

Doing taxes MONDAY!! (or sooner)... fingers crossed .. hoping I get a LOT back. total Fed tax paid was $14k. so I will get some percentage of that back.

and my FIRST hard money mortgage payment comes SATURDAY. $2970. Everything is on hold til I see how that works... so thinking I will end the month w $2800 to go to the personal emergency fund but holding that in my account into this big withdrawal goes through.

About it for now. I want to hear back from these other property managers. Upsetting that I have not.

1 Responses to “Updates, musings,. good and bad news on rentals”

  1. Another Reader Says:

    Liability has nothing to do with the size of the company. They should carry insurance or a bond should be posted. I would check the rules for private water companies in your state. I can't imagine the company not being subject to regulation as a utility, private or not.

    $2,800 is a nice chunk of change to put to your reserves.

    Property managers that don't return calls from potential clients are probably not worth further investigation.

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