All Forum Posts by: Darlena Jones

The appraisal process always takes longer than I want it to but usually 6 weeks ish start to finish.

Listen to the podcasts!

Why wouldn't you rent to cops?

If your rehab work is mainly inside, then go for it.  You might find it difficult to do any external work (e.g., concrete driveways, brick work, yard work) due to freezing conditions but nothing should prohibit indoor work.  We work like crazy in the fall to get several houses under roof and spend the winter doing the interior work in time for the spring sales.

And window has to be no more than 44" off the floor.

Egress window of 5.7 square feet.  You don't have to a closet in most areas around me.

Once you feel comfortable that the numbers are correct and that you achieve the margins you want, make an offer.

Yes, a collateralized mortgage means that a note was given and, if that note isn't paid as agreed, the property (collateral) can be taken to satisfy note.

You can go to the county assessor office (most have their data on the website) and do a property search.  You'll be able to see if the note was paid off.  If you can't do this, you can get a title company to do the search for you.  

Buyer sets the amount initially but seller can counter and ask for more.

There is no time.  You can create a business entity prior to owning rental property.  You can own rental property for a lifetime and never form a business entity.