All Forum Posts by: Arthur E.

We were kicking around the idea of 3%.  Does that sound reasonable?

I'm going to sell my duplex in Michigan to one of the tenants that has been living there for 6 years.  I've only owned the property for 6 months.  This is going to be an off market deal. The tenant and I have come to agreement on price and there won't be any contingencies.  The tenant won't be using an agent.  We will need my agent to process the purchase agreement and title work...and anything else I'm not aware of that agents typically do.  Does anyone have a opinion on what percentage I should compensate my agent at?  I, the seller, will be represented by the agent and the buyer will be seen as the agent's customer.

Make sure you use the Rental Property Calculator on the front of the site.

@Nick Stormoen, where are you buying?  Plugging each address into this website was one of the most important things I did while screening properties.  http://www.thetrace.org/2015/12/gun-deaths-interactive-map-2015/

I just moved from California and I have a couple properties with the intention of buying more soon.  I'm looking for a CPA that's located in the city of Milwaukee.  Does anyone have any good referrals for CPAs that specialize in RE?  Thanks!

@Zach Hicksdid you end up going with a management company?  If you need further assistance please let me know.  I've been managing buildings for 15 years.  

that's a great idea, but the appraiser said that the fixture with that outlet and it needed to be replaced with one that doesn't have an outlet in it. 

I agree it's good to have one, I just don't have time to cut into the wall right now and was hoping I could delay this improvement.

I have a FHA work order for a bathroom that has a outlet in the light. The work order says the light needs to be replaced with a light that doesn't have an outlet. But then it also says that a GFCI outlet needs to be installed.

Am I required to provide a outlet in a bathroom?  

Can I just replace the light with a light that doesn't have an outlet and call it good?  Believe me, I'm not trying to be cheap.  I just replaced the furnace in this apartment and I'm trying to delay haven't to open up the wall in the bathroom.

So then is my only option to go back to my lender and tell them that I can't do an FHA loan because the seller won't cooperate?