I found out what I have to do to evict the renters. They have stopped answering my texts and when I went by there on Sunday they didn't answer the door. I know they were there as they only have once vehicle and it was in the driveway. I sent them a demand letter yesterday to be out by the 24th. If they aren't out than I will file with the county. These tenants really fooled me. I thought they were so nice. Rarely have I been so wrong about someone.
I took out a loan to payoff my property taxes and my sears card. Don't know if it was a wise move, trading one debt for another, but it is done anyway. I will make extra payments on it and now I don't have to worry about the property taxes if I decide to sell the rental house, which is something I am considering.
Money is really tight right now. After the kids insurance went through underwriting, it became $486 a month instead of the $239 per month. Ouch. I was paying $66 per month for the state based coverage. I am just about at the breaking point with my budget. There is very little wiggle room and it is taking all I have just to make the minimum payments on things. Thank goodness my parents are quite generous or else I would be losing everything. It really brings home the fact that the renters need to pay me. I would be on easy street if they just took care of their obligations. I just don't get it though because even if the renters were paying I still wouldn't have the money to pay for the house that I live in. My parents are currently paying for it. I don't think I have that much expenses but I am always broke. And I make good money for the area that I live in.
My company just got a 401k option. I want to contribute to it but I can't right now. i am thinking that once i get everything stabilized I will contribute $100 per pay day and let the rest fall where it may. I am going to be 40 this year and have nothing to saved for my retirement. The only thing I have going for me is that the house I live in will be paid off when my parents die. I know that is huge but it isn't enough.
Anyway...that is it for my ranting and raving for the day. Sorry it was so long.
Evicting the renters
March 15th, 2012 at 06:00 pm
March 15th, 2012 at 06:11 pm 1331835118
RE: the health insurance. This is why I believe everyone should be getting low cost healthcare. What a hardship to try to cover that on your own.
March 15th, 2012 at 06:12 pm 1331835156
It appears so easy and effortless even some spouting 'just some minor maintenance'.
Our family had renter debacle - tenants have a lot of rights.
Also learned about 'weed ordinances' when they won't mow the lawn - the owner is liable in some areas, not the renters - try to collect that.
Also watch for vandalism of your property as you get them out.
Be there when they move. A neighbor had their renters move and they took off with everything from fridge, stove, sinks, etc... They also destroyed the carpet where the landlord had to remove that and have one put in.
Did read where a member of the SA forum fully researched the backgrounds of his renters as if they were job applicants - good idea I had never thought of.
March 15th, 2012 at 06:16 pm 1331835403
By the way, I don't know it's just my computer but the black background of your blog males it hard on the eyes to read.
March 15th, 2012 at 06:25 pm 1331835944
March 15th, 2012 at 08:00 pm 1331841627
It's really difficult to get ahead when there is a possibility of losing yet another month's rent if the place is vacant for another month. Hoping things get better soon.
March 15th, 2012 at 08:17 pm 1331842679
March 15th, 2012 at 09:05 pm 1331845504
I would look at the 401K. The Husband's employer offers a 401K, and you contribute by percent of your income, and you can start as low as 1%. It made it so much easier to get it started, because we felt like we would hardly miss 1%. Of course, then we upped it to 2% when we were used to the 1%, then up to 3% ... until he maxed out. The increments were small and relatively painless.
Good luck!
March 25th, 2012 at 05:26 pm 1332696406
Jerry