All Forum Posts by: David K.

Yuck.

This is your wife's father, and his wife? What does that mean, "isn't the best communicator." Is she hostile, or just doesn't speak the language?

If they won't sign the new lease then the correct answer is them leaving, which will surely be explosive, but you knew that already.

Doing business with family is a lot like throwing yourself out of a moving car that you're driving. If you're happy collecting rent as is, that's fine, but doesn't leave you much protection should they decide something else is more important. Good luck!

I've always understood these sort of restrictions to be more in line with apartments, condos, basically a patio that has something above it. Like another patio. It seems that most apartment complexes and high rises forbid them. I've definitely encountered my share of melted vinyl siding. 

North Atlanta here.

Do you ever notice, the people who have the most negative things to say about investing, don't have any money, are crushed by debt and don't invest? Yet, a fellow investor would support you investing in grasshopper paperclips for left handed people just on the idea alone.

Welcome to Atlanta, I expect the meetup leaders will identify themselves in this threat soon enough.  

Carpet is measured in the square yard, painting in the square footage of the flooring space.

To quote carpet you really should just have someone price it and charge that amount.

As for holes, in my state nail holes are normal wear and tear, whereas anchors for heavier items like TVs are not. I charge per whole, $15 for a small (finger or smaller size) $20 for bigger than my finger, and flat out someone hit the wall with something charge based on the side. For painting, around $85 a wall for a standard 8' wall in a normal sized bedroom. If they go taller, or longer scale accordingly. These are my guys prices, obviously they'll vary.

If all those prices exceed the security deposit, bill for the rest.

Good luck.

Fiverr is a great source of professionals selling their services on the side. Bookkeeping and accounting are just a few of the hundreds from graphic design to dog walking. I've heard good things, obviously you'll get what you pay for. Good luck.

Hello, and welcome!

My wife's family is from Knoxville, my extended family lives in Nashville. We're planted firmly in Atlanta. Welcome to Real Estate, I hope you enjoy yourselves.

Looking forward to it.

I don't disagree with what your saying. As a PM I do things a bit differently, just due to the number of properties.

HVAC filters are written into the lease, that we will charge the tenant, and we do. All contractors HVAC or otherwise know to check the furnace filters on any service call and to replace if dirty and charge.

We do periodic inspections, one of them by a 3rd party company and they use the punch list to which you're referring. This helps spot additional adults living there, unauthorized pets, and property damage. The latter being the biggest issue, because we're able to fix immediately, and bill immediately thus leaving the security deposit in tact at move out.

I just realized I read the second reply as the OP, but I can't edit it out. All are written into the lease and enforced is all I'm saying. What others are doing is great too. Yes, tenants do forget.

Our leases have the tenants responsible for all the consumables in the property. Filters, refrigerator filters, batteries for smoke detectors and fan remotes, light bulbs, etc.

Your list is pretty thorough though, I'd only add to make sure you're doing a semi-annual HVAC maintenance. A super easy step to ensure your HVAC lasts its full life.

I'm not a mortgage person, so they'll be able to answer a little better than I can. I am a veteran, and have used my VA. I'll tell you this, you're required to occupy the home as your primary residence with a VA. It can't be used in any other capacity (as it applies to what you're asking, there are other ways a VA can be used of course). So your father would have to live there.

Also, no one can go on a VA loan with the veteran except their spouse. My wife and I weren't married at the time of our first purchase (the wedding was weeks away but still the answer was no). We had to refinance to add her a year or so later. So in this case you can have all of the mutual agreements you want with your dad as long as you understand he would be the sole, 100% owner, and only decision maker of the property while you'd have a nice piece of paper that would mean nothing to anyone.

Third, and I mean this politely, but you're brainstorming into an ethically gray area and perhaps even a fraudulent one. VA loans are meant to give the servicemember an opportunity/better deal for home ownership as a reward for their service.