All Forum Posts by: Carol Hensal

One of our tenants in our units had their door kicked in and was burglarized.   Who is responsible for the expense of replacing the door?  The Landlord or the Tenant?

Orlando, FL

My partner, his wife and I purchased a property and took a loan on it using our personal credit. Because our LLC was brand spanking new, lenders wouldn't work with us without offering crazy rates. So we got a good deal and it's a cash flowing property. Everyone's happy.

Now I want to put the property in our LLC's name. Shouldn't be a big deal, right? Well, our loan company won't hear it and wants us to refinance under the LLC.

Suggestions?

I just bought a four-plex (first investment).  But some of the tenants have pets which is a violation of their current lease.  How would you address this in the letter?

excellent advise.  Thanks everyone!

I have the cash funds to purchase a property. I don't want to show the Seller my bank statement because if they see that I have more money than I'm offering, they will likely ask for more money. Therefore, I'm asking my bank for a POF for each deal....which could be numerous. SURPRISE! They won't do it because it's too much of a burden. I've seen a lot of responses from others here saying don't go to the funding websites just the letter. I have the funds, I just need multiple letters. Is there a better way of doing this?

Thanks

I too listened to that bogus webinar.   When he said that you could assign it with no money at a discount and then collect the full amount at closing, my first question was, Well then why would the vendor want to sell it to him if they would get the same thing?  ya, ummm...no.

great advice ...thanks everyone

Real Estate Investors Meetings?

So I'm finally taking this a little more seriously and I've hooked up with a contractor and his wife who happens to be a real estate agent.   

I have no experience. Period.

He has been in construction for 15 years, has read all the books, knows what to look for and figure out comps, how much it will cost to repair. etc. etc. etc.  But he has never flipped houses before, but he's eager.

In this scenario, I will be the bank, he is the project manager.   We're in the midst of creating a Joint Venture Agreement.  

Being that we are both newbies, I am hoping I can find an experienced mentor that can hold my hand through this process.  Although, we haven't nailed down a property, we are very close.

Thanks much.

Thanks to everyone for replying!