All Forum Posts by: Asher Carr

Hey everyone,

The story for this post is a little craxy but heres the gist of it:

I rented out a Airbnb in late June at this large home in South Jersey. It is a nice home but had many maintainence isues with it including flooding in the basement, sulfur smell in the water, backyward not trimmed and some other things. I messaged the owner (who is from Australia) and wrote a bad review on it. But I saw opportunity in it as an investment property and she was interested in using the home a a long-term rental, not Airbnb.

Fast forward to a week ago, the owner reached out to me after very spotty communication through emails and we finally met to talk about details of the rental idea. Because of my and another Airbnb review, she is back for the month to fix the issues around the house. I offered to watch over the property while she is away in Aussie and make sure the tenant is all good, contingent on bringing a tenant in.

So, I have a tenant and they are excited to move in soon. Im meeting with the owner tonight to finalize our deal. What type of paperwork should I bring to the owner to clear out the terms and such? Im a rental property investor and I know PM is different so I would think the paperwork for that would be different. Thanks in advance.

In dire need of a PA attorney that serves in the Poconos area. I have a contract I would like to finalize and the attorneys I found are not able to help. Please let me know if you know of anyone. Thank you in advance.

I have a client who is open to to owner finance his home to me has a HELOC to payoff of $30,000. Its only $305/month and thats the only debt on the home. Would that trigger a due on sale clause?

@Wesley W. Thank you. I would have to reword that in the contracts then. And that comparison to stock options is gold! I love that. That's for your input!

Hey evet,

I'm at work and out of no where I had this thought. For a rent-to-own property, is a non-refundable deposit ok? Though the buyers are not obligated to buy the property at the end of the term, should the upfront deposit be refundable like a normal apartment rental or could it be different because it is a home and there's more responsibility and different mentality about the property. What are your thoughts? Thanks.

Originally posted by @Brian Pulaski:

You can't find a flat fee MLS listing service in your are of NJ? I had one back in CT however it seems like I paid a premium verse some of the others ($449 for 6 months).

 This home is actually in CT. I did find some flat fee ones but still comparing the fees of what's best.

So I was speaking to a partner about a home we're trying to sell and he wants to get exposure on the MLS without the cost of an agent. The reason he hasn't involved an agent because the purchase price is not far from what is owned on the home so there's not much room to tag on a commission. He suggested looking for a free site or flat fee site to get the exposure. I've been looking for a while and no luck. Does anyone have any suggestions on this? Thanks.

Originally posted by @Marty Bauer:

@Asher Carr your own square space page is a great idea - would you mind sharing the link here? I’m interested to see it!

Just had success renting a unit via a free posting on Zillow - it works great IMO. It posts on 3 well trafficwd sites at once. The quality of inquiries was much better there than craigslist as Zillow inquiries can come with tenant info (income, history, credit range, pets, smoker, etc).

 Hey Marty. Certainly! Here's the link to my site: https://www.carrcorpre.com/

I like squarespace a lot. There are sleek designs and its very user friendly. I definitely need to try posting on Zillow. I use it to find the homes but haven't used it to promote the them.

Now, is it easy to just post the monthly rental to sell or the purchase price for a lease option? That what most of my rentals are.

@Kelly I. That's an outstanding idea. I've been also trying to find a way to incorporate agents in the search and that can streamline the process. Now is that a one time commission or do they get a percentage of the rent each month?

@Charan K. Thanks man. Will do.