All Forum Posts by: Charles D Cruz

Check your contract, see what work was legally requested.

Odds are he either did his part or majority of it. As far as partial payment, you'll probably get a mechanic lien. Which might end up in court. Unless he replaced the entire sewer/septic system its gana be hard to prove if his work is the sole cause of the issue.

This is why alot of contractors don't take half completed projects.

Realtors will go the extra distance for investors, but new investors might be looked at as people who watched to much tv and are not serious.

Especially if your offers are low, to the point of trying to find a seller that will make you a great deal. So you might have to find a new realtor that's starting out rather than a seasoned realtor. That way you both can build and grow together.

Just rule of thumb. Demographics and turn over rate could affect the amount of management required for a property. Also if your planning to rehab a large portion of the property.

Off site part time management: 30 or less.

On site part time management: 31-49

On site full time management: 50+

The wording your looking for is: Am going to use the funds for future investment opportunities.

Saying a property could result in having to provide information on which property and getting qualified for both before heloc goes through.

House Hack a nice fourplex and hand it over to a good property management company.

When it's good its great, when it's bad nothing could be worse. But with time it always gets better.

Deal with your problems one at a time, don't get overwhelmed.

To my knowledge most loans state that the downpayment cant be from a loan. Also why banks typically want the downpayment seasoned a couple months.

If you charge $600 rent, charge $600 deposit.

They're not your roommate, they are your tenant. So eviction through the courts is a must.  Both you and them must understand to them its home, but it's your business. Don't ever forget it's a business.

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Pictures are not good. Go to lowes or homedepot and buy the highest watt bulb you can for the light socket and use them for your pictures. I use 150 watt led for my rental when I take pictures. Then the 70w goes back in.

The description needs to be simplex people will give it maybe 3 sentences make it count.

One picture per room. Don't do a picture fixated on the toilet. If you have a picture of the lawn make sure it looks good even if you have to paint it.

Be cynical about your pictures, I usually take 100 pictures and less then 10 make the cut on a good day.

I would be curious how you came up with $20k on rehab, I see it needing some paint to get the house on one color scheme.

But if you can really only get $650 for it, adjust your offer price to get your desired return.