All Forum Posts by: Lynn Z

First, the inspector should give you an idea of the age of the roof and the owner is required to give disclosure on condition/age of the roof. Alot of inspectors are not going on the roofs these days so you can get a roofer or two to give you a roof condition summary. Get one with 20 or so years experience. I agree that most leaks are fixable but most roofers won't do leaks--just entire roofs. A roofer that fixes leaks is invaluable. All Cash is right...finding a leak is the problem. Try and assist in this area..They're always in a rush because the process of patching takes about 5 minutes--once they locate the hole or leak.

Most inspectors don't call the roof..they just say it could be near the end of its useful life, etc. Ask for the roof in the contract. The owner will fight and carry on but they know the roof is bad to begin with. If you need it done in two-three days, hire someone that you know someone else has used satisfactorily. Make sure they cleaned up after the job (trash/nails is a big problem). Pick your own shingle out and write it in the contract.

If you do your own roof, make sure you're not liable when someone forgets and steps backwards and falls off. Even your best friend will be suing you. Get that liability coverage. Good luck.

I'm getting nada from Craigslist although a friend of mine did rent up a 3/2 this month from a Craigslist photo ad. He struggled though and it is a 3 year old house he bought from me. In perfect condition. I know he struggled because I had to take a dog when I rented it two years earlier and went the entire month of March trying to get anyone. Tried local real estate (1/2 month's rent if they send someone that rents up), newspaper, everything. March is just tough---Feel April is going to yield more traffic.
They only sold 74 houses in our downtown area in February...Must be 2 million agents to yield those sales.

good to know. When I go looking, I'll check them out. The listings here appear to be way overpriced on the listings.

There is so much of this type of activity that goes on -- it's impossible to make a dent in unethical conduct. If you make enough offers you'll know what I"m talking about. Smart investors won't make an offer with just any agent--they want their offer presented by the listing agent to have an edge over this unfair play.

My worst losses have been over brokers and their agents ignoring my offer and presenting one they had all along. Even the agents have to carefully track their brokers to keep them from calling in an offer after they have knowledge that the agent is bringing in a contract. And that's inside the office?

Brokers used to not allow their agents to compete with their customers in the old days. Bad for business. Now, it's a matter of dog eat dog. I was first in the door and pasted a full price offer on the door of the listing agent. His broker stated he couldn't find him, didn't know he had the listing and was no help. Agent claimed he just didn't use that door for entering his home. Lie, lie because I know the next door neighbor and have seen him use that as his entrance. All he had to do was wait out the time in my offer and stated the other contract (his client of course) was the preferred offer.

I worked closely with the governing board of agents and thought really hard about complaining. Most of the complaints against agents come down to improper business conduct---nothing too serious you understand.

You have the right here to ask to be present when your offer is presented. I knew an agent offering on a property and the listing agent refused to allow this and she complained to the broker. He stated she had the right to be present when an offer is presented...but hey by then the seller had accepted another contract...and my friend was labeled a "troublemaker".

Ask to be present when the offer is presented and never give the seller more hours to respond then you absolutely think is necessary.

We use Craigslist for renting houses and apartments and it has been great up until recently. Flat and full of listings by everyone and his cousin. I don't think folks in this area are purchasing alot of real estate through Craigslist but they sure are posting stuff for sale. Don't know where everyone is this March.

someone asked name of screening agency we use -- It is "landlords united" and they have an application that they fax in and when filled out is faxed back to them. Within in a short period of time (no more than a day) they get back to you with results.

Yes most of us get applications filled out, have a lease on computer so that it can be amended easily and do all of the work direct. Always have an application in the car to give to prospective tenants. If they skirm when they see the application they're not likely to qualify. There is a credit reference and past landlord reference.

some apartment complexes charge a non refundable pet deposit of $200-300. I rented a new house to some bankers (young) who were responsible with their pet but guess what......forgot to leave the utilities on for a full cleaning. Thank god I'm now involved as I sold the building. Nonrefundable would cover the cleaning they won't do when a pet is a occupant.

Probably in this area most landlord would handle it through the deposit instead of asking more rent but more important 1) who's responsible for taking the dog out 2) how many times a day 3) does the lease now state that the poop is to be picked up by the owner on a regular basis 4) Is it a breed that won't get your homeowner's insurance canceled? Make sure you know the name and number of a backup person in case you have to enter the apartment due to the animal having some type of emergency.

If the tenant withheld information about having a dog...that's a bad sign. Proceed with due caution and amend your lease to include assurances on pet care.

Those articles in the Charlotte Observer show entire neighborhoods that have many many foreclosures and values dropping as buyers struggle with those subprime loans. I'd read their circumstances and realize how easy it is to lose money making bad decisions about real estate.

One important decision to have in writing between partners in real estate is under what circumstances will that other person sell the property? They need to know under what circumstances will you sell the property. That lack of understanding can really take you down when one is dying to sell and the other is emotionally attached and wants to hold. Figure the worst scenario like rates go sky high....short term money can't be renewed. That type of thing.

just had a tenant leave the state, no utilities, pet inside. Hot weather. There is a requirement of 14 days to service notice to correct but if animals are in danger it's worth trying to get the notice posted and moving for eviction...even if you lose. This was a situation where one pet was approved and other pet was moved in. If you have a no pets lease, give notice to get rid of the pet and if not corrected, evict. Save yourself the headache of worrying about lack of care...not to mention the mess left from lack of proper
attention. Why oh Why oh Why.