All Forum Posts by: Alex Loginov

Hi Chai, looks like you are in investor in Orlando as well. Do you have any recommendations for a good local cleaner in the area? Thank you!

Hi everyone,

We're hoping to find a trustworthy and dependable cleaner in the Kissimmee area. Our previous team, found through Turno, became unavailable due to their growing business, and our current cleaner hasn't been meeting our expectations.

We're hoping fellow hosts in this forum might have recommendations for cleaners who consistently provide excellent service and clear communication. We'd be extremely grateful for any suggestions you can offer!

Thank you so much,
Alex

Hey there, if you buy a home as an investment property, and the lender allows a seller credit to be no more than 2% of the purchase price, what options do you have for the remaining amount?

I know that you can reduce the purchase price, but are there any other options to get the remaining funds at closing, instead of spreading them over the years?

Can a title company add the remaining amount to your closing balance (say as a home improvements credit)?

Like if you have a $10K seller credit, but only $8k is allowed by the lender for an investment property loan, what can you do with the remaining $2k?

Hey everyone, any recommendations on good landlord insurance still operating in CA?

We got a quote from Steadily, but wanted to see if there're better rates available.

Thanks!

Thanks everyone! @Jon Martin your detailed advice is super helpful, appreciate that! What type of a shower door would you recommend? Thanks!

Sorry about, the previous owner hasn't moved out yet. Here are a few more photos that might be helpful. Thank you!

Hi, we are closing on an out-of-state property that we want to use as our first Airbnb. And we're thinking, from an investor's perspective, what kind of improvements would give us the most bang for our buck.

The house is actually in a pretty good shape just has a bit outdated style (see photos attached). 

So far we just wanted to repaint the walls, change the living room floor from carpet to vinyl, and repaint the kitchen cabinets.

However, we are not sure if that's enough to attract good tenants (for a 3 bed, 2 bath detached home with a pool in Kissimmee area), or should we spend more time and update the countertop (not sure how it's important for STR), kitchen cabinets, bathroom vanities, etc..

Since we are out-of-state investors, the less amount of effort and money we can spend to get similar results in term of rentals, the better for us. So we are trying get in idea what is must have and what is just good to have.

Would appreciate any advice, thank you!

Thanks everyone! 

More details: the seller shared their purchase agreement for the next house. The closing date there is two weeks after our closing date. So this is #1 reason they want 2 weeks of post occupancy.

Reason #2 is that they don't want to move twice, and they don't really have funds for that. They are getting a new VA loan with almost 100% financing, so they need the money from the house they sell to pay for their moving costs.

We agreed to have some security deposit hold by the title company that will be released once they move out. This is on top of a seller credit that includes a payment for the post occupancy. And we also have an additional agreement that if they stay longer than 2 weeks, they pay daily rent to us from the security deposit.

Thanks for your answers everyone! 

I got some clarity - the seller has a VA loan on the property they are selling, and it will take 5-7 days for them to get their money back from the lender, and only after that they can use these money for their new home.

That's why pushing the closing is not an option for them.

Hi, we are buying a house, but the seller requests to stay there post closing in exchange for some seller credit.
They say it's a requirement for them and they can't go forward without 2-3 weeks of post occupancy, before they can move out to their new home.

What can we do to protect ourselves from them staying longer or not wanting to move out? We already asked them if they can provide us with a proof of arrangements for their new home, like a purchase contract with the closing date.

Would appreciate any advice on this tricky situation. Thanks!