Should we split rent three ways or two?
449533
First of all, i would say she is your sister first and only then your flatmate! If she and her boyfriend are earning more than you or if you are in a tight economic situation because of this issue, I would suggest that you discuss this with your sis explaining it to her.Otherwise, i would say let it be....she is your sister, she would NEVER imagine ripping her brother!!well, as for the part of the whole house being occupied by them, it is easy to sort that out!Do what you would do in your house as it is yours too.
193898
If you are refering to zoning then you will need to ask the zoning or planning department in your city or county if you can do what you want to do.\n\nIf it is because of a homeowners association and they forbid "commercial business" then you better check with them as you will just have headaches later for not finding out and wasting time if you indeed couldn't.\n\nNow what you are renting will make a difference. If you are talking about a house, apartment etc, then as long as the zoning is cool you can do it. If it is a part of your home (duplex, triplex etc) then its not going to be considered commercial if you are just renting out the extra units. If you are talking storage units then yes that would be considered commercial.\n\nthe zoning is the key, call them up and ask lots of questions
652586
Talk to a local realtor, or a local land surveyor.  The surveyor will be able to tell you how it can be split up into lots for individual sale to maximize your dollar.
1131571
Go for it!\n\nOr even better, sell his stuff to pay the rent!
968544
Yes, but depending on your age and if you can make enough money it might be worth it. You also won't have to worry about  repairs or any other problems that come along with renting. You and your wife need to talk to a tax consultant.
424474
Depends on how much money you already have.  If you're making $200,000 a year than it's pennies.  But if you're on welfare or working at Wendy's then it's alot.  Considering you own two properties, $3,000 probably isn't a whole lot, but it will make a dent in your wallet :-(
985220
Its totally up to the both of you mike,renting a place IS dead money,you are correct,its a fact--a mortgage though is a millstone around the neck--another fact,so really,you're fecked if you do,you're fecked if you dont,fecked if i know the answer to that one!!Then you have the patter of tiny feet to consider in the future,and everyone knows how costly those little feckers are...very!! Wish you all the best in whatever you decide mike,i know its not easy-decisions,decisions,decisions:-/
187902
Rent is fixed.  If you sell one burger or a million, it won't change the rent.  You'll have to do the math on the other stuff.
785928
i really think they should have a rent control for something like your situation.  most company's can do a write off.. i have rental accomadations and if someone swallows their pride and approaches me.. i can write them a deal.  i just wrote a deal last year and it gave me a nice perk from the governement. taxes.but i can not read minds.. maybe your present building owner or assoc..will cut you a deal.. we have not mastered mind reading...you have to ask..
1158335
You have to first estimate how much all of that is going to cost. \n\nThen you break up that cost per month. (eg., rent/month = ?, car payment/month = ?)\n\nThen you try to get a job that covers all your expenses.\nYou will probably need to make around 2000/month.\n\nAt your age, I would suggest college or a roommate to split the cost of rent.
679531
...Is your gas and heat part of utilities addendum in your lease agreement?   If so asking the landlord to extract out a separate bill for just you would be discriminatory action against ALL the OTHER residents. He would be very reluctant to do that. Anything a landlord provides to one resident, he must be prepared to provide equally for all other residents.  For instance an announcement is attached to the office door/window for all to see...OR placed on all tenants doors. Time consuming for him to do.
469238
I think do your sums, \n\nGolden rule, never buy anything for more than 7.5 time the annual rent.
708117
Great that you are planning such a wise investment path. I started exactly the same way many years ago. And I'm doing quite well now. My advise to you is go ahead and buy that duplex building. But rent both sides out instead of living in one side. Find urself a cheaper bachelor's apartment to live in. Likely you can get more rent from one of ur duplex than it cost you to rent a bachelor's. You will make more money each month because of the difference. \nYou may say that you only make $30,000 a yr.. but don't forget that when you go to the bank with a proposition to buy and rent the entire building out.. ur yearly income as viewed by the bank is now much more coz they will factor in ur potential income from the duplexes. This allows u a greater debt/expense ratio. and allows you to buy more. \nThere are other good reasons too for not being too quick to move into one side..  income tax for example, because u are not living in the building.. the entire interest on the mortgage becomes an investment expense. Also, it's likely that where you live.. there are better tax advantages to showing u are also a renter. \nIn time, as you buy more and more buildings.. you will be able to choose a house of ur own. But for now, make the most of "all" ur money, live below ur means.. and invest invest invest. \nImportant concepts to understand, balance and use to their most potential are; Ur networth, total assets, debt service ratio and income (both present and potential) debt service ratio is usually the most common limiting factor. ( and keep a watchful eye on interest rates) and know ur local realestate trends and be ur own best forcaster of future trends. As they say, "buy low, sell high"\nCoz in the end, most of ur money will be made on capital gain rather than rental income. ( rental income simlpy facilitates debt expense requirements from lenders )\nChoose a good banking agent.\nAs a realestate investor, ur bank becomes ur greatest partner. Choose an agent that has confidence in you, is knoledgable about realestate and is not afraid to stick his/ her neck out for you.\nBest of luck to you.
934868
My dad owns two appartment buildings besides the house we live in. One is a triplex and the other one is also a triplex but with a corner store.\n\nWe try to do all the maintainance ourselves, and if we cannot, we call someone, after researching best price for quality.\n\nKeep the rules tight, no loose ends. Always take the rent for a new resident for the first and last month. That way if they run away (happened to us twice), you do not actually lose anything.\n\nIf the tenants stay in the building for a long time and they are good, we try not to increase the rent much each year. For example, the grocery store guy gives started at like 700 per month, but after like over 15 years, we capped it at 1250.
405524
390 sounds low , but a "fair" price depends totally on where the property is.\nCan you find ads somewhere to get an idea what is being charged at other rentals in your area?\n\nJust one thing though, if you have good, reliable, long-term tenants who take care of the place, they are worth keeping, even if it means staying a little low on the rent. Voice of experience as a landlord.
169044
well, in my state rent to oun does not work vary well. I'm kind of in the same place. Me and my best friend bought a house 4 years ago becouse rent was getting to hight. Well now we want to sell but can't right now becouse of a lean from her icecream store. So we are kind of married but don't want to be. So you might want to get married first.
572547
You should refer back to your lease agreements on all of them and see what the penalty is for early termination.  And to see if you can sublet the space for the remainder of the leases.