All Forum Posts by: Andrew P.

Hello everyone, We are running into issues where the bank we use for our business checking is not in the town where our investment properties are. We do have a bank there but there are limits for ACH transfers to our main checking. Is there an easy way to move the rent money around? Any help or advice would be greatly appreciated!

Wade Sikkink sounds like a plan, thank you!

Michael Totman they are 2 unit houses. Didn't think of just buying them and charging more rent. Interesting....

Hello everyone, What is the general feeling about installing coin operated laundry in multi unit houses? Is it worth it? Should we just leave the houses without laundry? Thanks!

Mags S. yes they did but they are claiming it doesn't cover this incident

Deanna McCormick sounds reasonable, thank you for the advice!!!!

Deanna McCormick thank you very helpful! The fire department was called and the tenant admitted they tipped over a candle which started the fire. The place is still livable. Is it reasonable to have them pay full cost of repair? Or since the bathroom was older would we have to split the costs?

John Anderson it was a estimate from our management company.

Hello everyone, This is the first time anything like this has happened to us. Our management company quoted about 1k in damages. We do have insurance and clauses in the lease the tenant needs to pay for damages. What typical happens now, do you have the tenant slowly pay it off? Do you do an insurance claim or have the renter try to claim it on their insurance? Any help or advice would be greatly appreciated!

Hello everyone, Is it normal to have a commercial mortgage arrangement whereby the interest rate is not fixed for the entire tenor of the mortgage? We were recently quoted on a 15-year commercial mortgage with the rate being fixed for only the first 5 years and thus subject to a re-quote for the second 5 years and then again at the start of the final 5 years. Is this normal? If so, what is the common practice in terms of protecting ourselves from this interest rate risk? Are there guaranteed 15-year fixed rates out there at desirable levels? Any expertise you can provide is much appreciated. Happy estating!