All Forum Posts by: Allen Collier

How do you write up a contingency that the home appraises at a certain amount. Basically, to protect an equity position in the property. This is when I’m placing a contract to purchase a piece of property. Thanks!

@John Warren, This lady is 69 years old, and doesn't want the upkeep. They yard is getting too much for her. I have inspected the home. It is in very good condition. She wants the money out of her home and wishes to lease. She originally was looking for an apartment, until I asked if she would be interested in staying and leasing the house.

I have an opportunity to purchase a home from a woman who wishes to remain in the home and lease it from me. Has anyone done this? What are some stipulations you place in the lease. Some things I was considering was: 1. They sign a longer term lease. 2. They remain responsible for maintenance and repairs for one year. Anyone have an thoughts? Thanks!!

SFR I currently have under contract. Probably $70-$75k in value, and my contract is for $45k. Plan on approximately $25k in rehab. It has a basement, and I learned today that flood insurance will run about $6k per year!!! Holy smokes! I was not prepared for that. I'm using the BRRRR method. Has anyone done this before in a flood plane? Is there any other options I have at lowering the cost of flood insurance? Thanks!

SFR I currently have under contract. Probably $70-$75k in value, and my contract is for $45k. Plan on approximately $25k in rehab. It has a basement, and I learned today that flood insurance will run about $6k per year!!! Holy smokes! I was not prepared for that. I'm using the BRRRR method. Has anyone done this before in a flood plane? Is there any other options I have at lowering the cost of flood insurance? Thanks!

My tenant’s dog tour a door, door frame, and the wood floor up trying to get out of a bedroom. They have moved out. I haven’t returned to deposit yet. What can I deduct? Materials and labor wise. Everything? Preying door, nails, stain, etc etc? Can I charge labor if I do the repairs myself?