All Forum Posts by: Andrea M.

In my area, we have purchased two properties that was written on 1 contract because the seller was the same person, you may want to double check with your closing agent/attorney.

I agree with the budget of $500. I have found that my quarterly inspections help alleviate a lot of major damage.

I would think that it depends on the amount of rehab that the property needs/budget and trust factor that your general contractor will be honest and have things fully completed within a reasonable time frame. Also depending on whether the property is for a flip or buy & hold. I believe and my experience is that if you network within your actual sphere of friends/neighbors you will be surprised to find out who is skilled and may be able to do the work less costly with quality work.

Welcome Ryan Thomas..I am a former Long Islander..currently in Hampton,VA

David Chandler Depending on how long you think the project will take you may want to start marketing the property once it's in show condition (maybe 1-2 weeks) before it's actually done. Since this is your first time, you may want to decide and document what your rental criteria will be regarding employment, credit & background check, the documents the prospective renter will need to submit, your actual lease will have to be in accordance with your local/state landlord tenant law and what your deposit will be. You may also want to check the BP file place for ideas on documents- which may be state specific from the author.

I have learned to do a lot after the first rehab where I feel as though I overpaid for certain things, but I watched the contractor and asked a lot of questions. YouTube/Google has been a good friend of mine through out the years and BP forum.
Each project I am more hands on meaning, sheetrock, painting, laying carpet and tiles, measuring, and shopping for materials- we typically let the skilled people do the electrical/plumbing if needed and although I am present during the demo part-I haven't learned to handle the bigger heavier tools .

Welcome Jose Garcia..I am in from Hampton as well..lots of great information on BP forum

Ok..then in that case, then I would send an create a document acknowledging the agreement and clearly state the last months rent would be due and payable at the end of the lease and have both parties (landlord & tenant sign & date)

I believe it depends on your local/state landlord/tenant laws. In my state security deposit can not/should not be used as payment towards rents.

I think the BP forum needs little more information from you in order for the BP forum to give you a little advice. If you are considering a condo factor in the HOA fee.