All Forum Posts by: Cassidy Burns

Hi BP,

I have run into an issue and need some advice.  

My current tenants are breaking their lease and leaving early, December 18th, horrible time to try to rent condo out even in Washington DC.  I told them that they since they broke the lease they would be responsible for the whole month of December and I would be keeping their security deposit.  They responded 3 weeks later stating that my lease never stated they would be responsible for the security if lease is broken, I checked and unfortunately it doesn't.   They have offered to pay the prorated payment for staying through December  18th and forfeiting the security deposit.  

IS this a fair deal or should I respond and try to retrieve the full months rent for December?

ALSO, I now know that I need to upgrade my lease.  How do I go about developing a more detailed lease?  Should I have a different lease for my future units?

Thanks for any help.

Welcome @Brandon Kelly

@Matt Clark Great advice.  I really appreciate it.  It seems like there are a lot of homes available in the William Flemming and Patrick Henry school districts.  Any input on these areas?  Also do you have a recommended property management company that works well with out of state investors?

Thanks!

Hi BP,

I have really been studying the Roanoke and Salem Virginia markets and it seems to have good values and the numbers work.  Does anybody have any input on which neighborhoods to avoid?  Which neighborhoods seem to be the most popular, etc.?  

Thanks guys!

HI BP,

My soon to be private money lender just applied for a HELOC on their current residence. Their home is 100% paid off and will appraise for around $90,000-100,000. She currently has a Home Equity Loan with a remaining balance of $7,000. She went into the bank today and she said they could potentially approve her for $40,000 due to her DTI. Does this play a role? This number seemed low.

Advice on other steps/options we could take?

HI BP,

My soon to be private money lender just applied for a HELOC on their current residence. Their home is 100% paid off and will appraise for around $90,000-100,000. She currently has a Home Equity Loan with a remaining balance of $7,000. She went into the bank today and she said they could potentially approve her for $40,000 due to her DTI. Does this play a role? This number seemed low.

Advice on other steps/options we could take?

HI BP,

My soon to be private money lender just applied for a HELOC on their current residence. Their home is 100% paid off and will appraise for around $90,000-100,000. She currently has a Home Equity Loan with a remaining balance of $7,000. She went into the bank today and she said they could potentially approve her for $40,000 due to her DTI. Does this play a role? This number seemed low.

Advice on other steps/options we could take?

Welcome @Rodricka Elliott!

Welcome to BP @Danielle Toval

Welcome @Kayla S. McNeill.  You are going to love it.