All Forum Posts by: Devin Gordon

Under contract on a house hack and about to start calling to get quotes on hoi and am wondering what you might suggest as some minimum criteria for it for insurance. Like, liability, full replacement, deductible amounts, not to familiar with the differences so any help would be great, thanks!

The refinance portion of Brrrr is unclear on how to do it in specific steps, for those of us who have never done it. Like the appraisal, and if you've never actually been through the steps it feels quite scary because most of the time were just taking one persons advice on what to do, usually from the lender I would expect. So could you break down what you do when your ready to refinance, do you just call your lender and say "hey I'm ready to refinance!" and the steps after. What happens if it does not appraise for what you thought? When Brrrr goes wrong... etc...

@Asury Johnson great advice thanks!

Do you hire an attorney to create a Lease agreement or construct one yourself?  Feels much more credible and less likely to be "pierced" with a high quality lawyer backing the entire lease, they would know every state law and loop hole to look for. hmm??

@Joe Splitrock hmm interesting, see that's kinda what I was thinking that a per day fee makes them hustle , I do like the grace period, due on the first and considered late after the 5th. which electronic rent system do you use ? Im thinking of going to this.

@Corby Goade okay thanks sounds like I just need to do a flat fee, higher on the the fifth, drop the per day and use a website that applies it automatically. 

Say the lease states, rent is due on the first and every day after that its late is a $5 fee per day until up to 5 days. Then if not received by the 5th you can go ahead with the pay or vacate letter or whatever but my question is how do you handle charging the $5 late fee  per day, because anytime I have had late payments its just the original rent amount i get and it doesn't really seem worth bringing up at that point, like hey take the $1000 check back i need you to rewrite it for $1,005. This is the one reason I am leaning towards an automatic late charging renters software like Cozy. I like the idea of a third party website holding the renter accountable so I don't have to communicate with the renter , "hey your 1 day late thats an extra $5"  . Has any one tried something like cozy for utilizing this?

I just searched the forums and found the link because I was in the same boat , did you ever find it ? 

What exactly does a landlord policy offer vs a homeowners? Price, coverage? I didn't know their was a landlord policy, 

like @Joe Greer said first and foremost most definitely find the leak first before your worry about anything else. Or have you already done that? find leak fix, grab some buddies dig into some youtube videos and you can do the whole thing yourself I bet. Not ideal on a new buy but it can be done I live in KC if you have any questions message me.