All Forum Posts by: Kathia L.

Red flags 1. They don't meet your minimum criteria 2. They want to pay all cash upfront 3. They came back trying to change your mind Look you're running a business not a charity I feel for people who need to move into a home maybe they're lease is up maybe a lot of things life happens. If they really need a place to stay fast and have all that cash they can also apply for a place that's cheaper than your place <----read flag

B Reeves Nice job what did you use for the yard in the pic on the right or redish colored house is that gravel stone?

So what's the point of having an LLC if everyone knows you own the property?

If you're keeping the siding you could just repaint a new color like light blue or dark grayish blue for window trim just do simple modern frames and for light blue paint window frames trim and outer doors and dark blue including garage door make sure to match garage door with front door it looks sloppy when they don't match. if you're changing the front you could try flat stone in charcoal grey and match the siding on the sides do the house with same paint color. Paint Window frames trim front door garage door black Now for mailbox if it's attached to the building either match it with the outer light fixtures I suggest going with black mailbox for the grey and paint the mailbox dark blue for the blue theme. What are you doing with the railing in front for the staircase to the porch The front porch looks unfinished needs direct walk way to the stairs from the sidewalk or some step stones maybe? Let is know what you did post some after pics

T Connoly What are you doing with the front stairs rails? Are you fixing the driveway or is trust ok? If you're keeping the siding you could just repaint a new color like light blue or dark grayish blue for window trim just do simple frames and for light blue paint window frames trim and outer doors and dark blue including garage door make sure to match garage door with front door it looks sloppy when they don't match. if you're changing the front you could try flat stone in charcoal grey and match the siding on the sides do the house with same paint color. Paint Window frames trim front door garage door black Now for mailbox if it's attached to the building either match it with the outer light fixtures I suggest going with black mailbox for the grey and paint the mailbox dark blue or black for the blue theme. And the outer light fixtures black for both houses. Let is know which one you choose post some after pics

Originally posted by @Pat L.:

At least you will not need to do a  'cash for keys', gifting a couple of 1.75 litre bottles of her favorite beverage maybe enough to entice her to vacate.

A good friend of ours (Roanoke, Virginia) had to present an eviction notice to a very large lady in a MH rental on a 1 acre rural lot, (I was to witness the hand delivery).

When we got there the lady was cooling off in a kids paddle pool with an umbrella & nothing else. 

  I agree  cash for keys 

Carlos Castellanos I would strongly advise you not to give out your personal home address or phone number get a po box and second line for you cell phone calls forward to your phone and you can make calls on a app so the biz line number shows so again your personal number is not out there you'll have a separate voicemail it's not unprofessional at all having a crazy stalker or ex Tenant at your house not safe and you never know who's unstable or will be in the future. If you're using an llc use that instead of your name for payment from tenants and have a business bank account under the llc business name if you don't want your name identity known to tenants. Also you can use pay near me which tenants can pay cash at certain locations they get a receipt and you get notified and Thera am electronic trail for your records. also there online services and have those rent collecting services linked to your biz bank account a lot of BPers use William paid Here's the bp list http://www.biggerpockets.com/rei/pay-rent-online-payment-tools/ Theres a horror story on these boards with someone having multiple bank accounts and the tenant reversed the account and emptied it out when leaving the apt

If you said no pets then don't give in your word and you're lease will then be useless and powerless. If there is a precedent of you bending or breaking your own lease rules for 1 tenant then you have no leverage after that changing your mind mid lease bad idea. If you later want to rent to new tenants and allow pets that's different cause you'd have a pet clause and extra fee payment but into your lease.

The profit margin isn't enough to make all this hoop jumping worth it. $3000 in then $1762 profit for a $300,000 house flip ? $3000-$1762=$1238 That's a loss of $1238 even if you minus your fee $400 is $800 loss and that's if the house sells at your pre determined price point and within your pre determined timeframe if not more cash loss There's no margin for profit here the only advantage is you don't have to do the quote flipping work yourself A regular fix and flip would yield more cash return even if you almost broke even the margins are larger also depending on who the builder is you run the risk of them showing up on your doorstep with baseball bat in hand.

Hunter Reichert What's the asking price what's the true price Does it need repairs factor in some expense for that whether it needs it or not most places could use some paint and updating which is minor. It could have more wrong with it that's unknown. Make sure you're buying he prop is contingent on inspection so you can back out of the offer if you need to. In inspection see about getting a camera to check the main lens pipes in the place if you can after reading the whole lateral belly sewer belly thread it's with it to find out up front. Will the rent cover your expenses like taxes get recent years of county website check for liens what will your mortgage costs be ? what are comps in the area renting for? Who pays bills water electric gas etc? How much will your total expenses be vs rent income ? Tenant or landlord all these factor into expenses. apply the 2%rule to get a general idea if it's worth it and most important will it cash flow?