All Forum Posts by: Allan Smith

Thicker mil means more protection, so look for higher mileage numbers. Thicker MM means the plank is Thicker overall and is more sturdy.

Most developers and flippers around here Will pay themselves a commission, but the important thing is it's discussed on the front end and expected. The silent partner is expecting a certain return, and if you take a chunk out of that at the end, it will build bad blood.

That is on the landlord to pay as it is upkeep of the property, however if there is an egregious leak that is not reported to the landlord, in my lease that is negligence by the tenant and billed back to the tenant.

If they are materials commonly used at another job site, I would be a little suspicious. But I do agree that generally materials on the job site are now owned by client.

It depends is a lazy answer in my opinion. Most of the time someone is asking a general question to get a general answer, so answering with it depends it's kind of useless. Give a general answer, then ask some questions to get to the heart of it.

Yes you would need to talk to more lenders. But also, you might just have to buy a few with a hard money lender at once, and then refinance and the loan will be a much larger amount

Most property managers do not consider rent late unless it's paid after the 5th. So sounds like a lot of those were not even late payments. Although one of them was pretty late. But nonetheless, no that's a fine tenant, I would for sure keep them.

I have historically paid about 2.2% of loan amount in loan closing fees. Includes title work. $5k would be okay if it's at least a $150k loan.

Areas that have economies that depend on tourists, for one. But otherwise, smaller towns, and more rural areas.

For a midterm rental I would say an appropriate minimum is around 17 or 18%, though for me personally I generally don't try for anything under 25%. But that means passing over a lot of deals.