All Forum Posts by: Lisa Misuraca

This is no mistake at all. You only paid 35,000 per unit.If they’re 1 bedroom you should get at least 500 per month per unit.Even if just swamp cooled.Raise the rents and use your income to do the repairs.To me in Tucson the most important thing is to add AC then your after repair value should be 65000 to 70000 per unit 240000 to 280000 value at least.

I just started with Venmo. Free and easy for tenants.

How do you discount your commission when your the buyers agent for immediate family?

In your opinion is this a great deal?Is the purchase price great? Would it still be great if you need a new roof,heating and cooling system,major plumbing issues, structural repairs?If so don’t call it an inspection call it something else but take a professional with you and do an inspection.Call it a walk through with your contractor.Dont be afraid to talk to the tenant and ask them questions about the roof, plumbing, etc.Simply for your own information purposes only, 

@Alan

I meant to say... no of course not.

@Alan Grobmeier

Sorry to bring this up but where are you going to get the down payment money.

Sounds like your now set up for Airbnb. Look into if a few  or all of your current condos would cash flow better as weekly rentals, especially if as you say they’re in better locations etc and include amenities.

Then going forward keep this same model or start investing multi family.

Just another way to go.

@Michael Ablan

How much money did he give you towards the down payment? Perhaps you do the lawyer thing meaning show all paperwork from the purchase, state down payment amount from father. Show whom the property is titled to. Get copy of will etc. Request the lawyer make the call with legal explanation off the facts. No you do not own a third of my duplex it’s mine and you’ll just be causing family trouble and spending lots of money to be proved wrong.

Then MAYBE offer a third of your fathers down payment he gave to you to each of you’re siblings so the freeloader can move somewhere else. Cause you are not responsible for free rent.

I would certainly not wait for the inspection from the seller.

Part of your due diligence and a requirement for your FHA loan is to have a termite inspection. What they find will depend on the severity of the damage and if they are active or not.

And would need to be remediated before closing.Treated and repaired.

What state are you in? Is the building brick or frame stucco.Look for damage at all door and window jams 

and around any source of moisture.