This is a big month for me. I lose the 2 flat.. and all the rental income that goes along with it. I meet w the tenants today and this weekend to settle up. I am trying to settle up through 5/31.. I have little leverage but things look good.
Without the 2 flat.. my first paycheck does not cover the payments due from the 1st through the 15th so I have to save from the 15th check or in general. Cushion I need is $1200-1500. I will build that now and leave it in my account.
Put $4000 more towards the rental emergency fund. I decided (barring major issues or uncertainty) I will keep the rental emergency fund at $30k (after I pay for 2 roofs)..so I still need to come up with $37b total but will then leave it at $30k..
Talked to old property manager (it is done!) and will follow up in writing. he is not happpy to lose the account... wanted to know what he did wrong, can improve. I said we can talk next week if you want. He wants (and per contract) gets 60 days so means new one takes over as of June 1.
I do not want to ruin the relationship w him and am checking with new PM if she has a person to refer me too should she no longer be able to property manage for me.
I am looking to turn over one of the homes from Section 8 to non s8 in the meantime for a rental increase of almost $200+ a month. Old PM wil handle that because time is so good to rent to folks.
Maybe not a good time to introduce more uncertaintly but I am doing it. S8 is guaranteed til the lady is out and we gave her til May 1. House should be easy to rent. Only caveat is if she causes problems showing but we will find that out next week and can bring S8 in to intervene if necessary (fingers crossed)
Still need to talk to Ma and aunt for $7k
No new news from guy who owes me $6000 but he is in regular contact so feel once it warms up his motorcyle will sell and I will be ok.
Does it make sense to contribute to the Roth/HSA now or wait til rental emergency fund is built? my guess is wait but wanted thoughts.
Just had idea. I can offer current tenant $100 incentive as a 'sorry for short notice' and be cooperative w showings. We are basically terminating her lease suddently with 30 days notice.
Talked to property manager and ? on Roth/HSA