All Forum Posts by: Steve Smithy

I'm not sure I follow, why would a court give you title over the other parties?  The original owner (son) who quitclaims/sells it to you would have a better chance than you would. I don't see how a judge wouldn't side with the reverse mortgage company, especially since they have spent far more than it is worth.  I think you would waste your time/money on this one.  Am I missing something?  Assisting the owner in getting rid of squatters doesn't equate to ownership AFAIK.  IANAL

Get a new one and don't pay the first one?  Leave a bad yelp/google review?

I've never done this before, this seems like something a good PM would be doing!  Sounds like they are trying to shift the blame if they place a bad tenant on you for approving them!  Might want to find a new PM...

I don't think the market is reflecting the situation yet.  I think it will be 3-6mo or more until prices have adjusted.  Right now people are still hopeful their properties will sell at full price, I don't see any deals yet.

I think they would have to prove you were criminally negligent, like if the property manager informed you of a problem and you told them to NOT fix it.  Otherwise if everything is up to code I don't see how they would blame the property owner!  A good reason for your properties to be owned by an entity anyway.

I've heard of pricing for several thousand ($4k-10k), the distance matters more to some than others.  Anyone I ever heard of doing it economically successfully did it themselves, they own equipment to tow and get an escort company.

Is it worth it to move this MH if its going to cost $15k?  I would think not!

I think finding a lender to loan to right now is going to be hard with 0% equity.  I hear about deals falling through that should otherwise have closed so you are asking for a unicorn right now.  If you find it though, good luck!

I did, but in a rental it didn't matter they somehow removed the pads and the floor was damaged anyway. Holes were poked into the floor from the corners of the chair legs!  I had lots of damage from renters: I had people break my leather sofa 3x over 5 years, glass bottle fell into hottub (even with rules about no food/drink in hottub), clogged pipes from people flushing condoms and tampons, all sorts of broken things.  In the end I decided to not rent it out any longer, especially with the fees from VRBO.

Do you need an actual CPA?  A CPA usually just cares about filing taxes, not necessarily saving you money (my experience anyway).  I don't know if they cover WA but try Marina at REaccountingPro.

I think the "fee" is the markup on the property.  You find something underpriced, maybe perform some minor painting or other quick fix, and then resell it for a discount to an investor.  The discount has to be worth it for them to buy, but the markup you added is irrelevant.  I wouldn't just charge X% markup, you miss the opportunity to make the most money!  As long as its still a good deal for the investor I wouldn't care.