All Forum Posts by: Chris Wang

I am currently facing a situation where my tenant has failed to pay rent which is due 1st January for a 2-bedroom condo that I own in Worcester. After exhausting attempts to resolve the matter amicably, it has become apparent that I need legal assistance to navigate the eviction process.

I'm looking to potentially retain any law services or eviction representation. Is there any general suggestion you think is valuable or any recommendation for an eviction lawyer?

Hi @Logan Ashley, sounds like you and your parents have already done a lot of homework for the general REI and local market, I just did the same thing at the start of this year. I think it would be great if you and your husband can start to know some local real estate agents who's friendly to investment properties. By starting to talk to local real estate agents you can have a general idea of the local market trend and what is available on market now, and better prepare your REI plan no matter what it is.

As a new rental property investor, I totally agree with Turner Brandan's statement in , you would be sued sooner or later. Though we can control the risk by screening the tenants carefully, we can't guarantee there are no lawsuits against us which may result in vast losses. I know that a common way to avoid this liability is to find LLCs and transfer the property to the LLC to realize "limited liability", while I'm an investor use financing, according to my knowledge most banks don't allow property title transferred to LLC, they may ask us to pay the mortgage "on-sale". So in this situation, what can we do in advance to minimize our risk during the rental property investment journey? I heard that one method is using "umbrella insurance", is this a good way or any better solution?

 Hi Sabrina, thanks for the answer.  Actually I may not ask clearly. I’m wondering the labor price to install the range and range hoods, and the painting job for bathtub and cabinet.  Your experience of bathtub refinish is a great reference.  Thank you! Is there any contractors for this job you’d like recommend?

Hi BP,

I'm a new rental property investor in Worcester, MA. I recently bought a small condo and there is someplace to decorate a little bit before listing for renting.

I'm thinking change a range and range hood, mirror in the bathroom, and re-painting the bathtub, maybe also the cabinets.  So hiring a contractor/contractors then gets into my mind.  I'm thinking if any BPers have similar experience can share the estimated costs of these works? And of course please recommend any contractors you think are great. Many thanks.

 Hi Alan, thanks for the information. 

 Hi Jay, thanks for the information. Hope the LO I know also don't mind quoting ratas. lol. I noticed you're described as a lender and MA, hope we can cooperate in the future.

 Hi Russel, that's a new source to me and it sounds like a very valuable and authoritative reference. Thanks for the information!

 Hi Josh, 

Thank you for replying and providing help. I'll definitely refer to the calculator. 

Thank,

Chris

Thanks, Sergey.

That's the exact situation. I have all the information needed, the type of property, the downpayment, the address of the property, and my personal credit score. And I do notice that some back usually gathers this information on their website and ask for the phone number or email address, then some new loan officer would get in touch later. In this case, may I better ask the loan officer I've already known?

Thanks again for answering.