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All Forum Posts by: Rick L.

Rick L. has started 51 posts and replied 192 times.

Post: Insurance for Residential Portfolios

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

mark, for later reading.

Post: Tips on getting the most out of an Appraisal

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

Thanks for the replies. Very sound advice! I've also read that it's really important to basically hint/tell the appraiser what price you're targeting for the appraisal.

Post: Tips on getting the most out of an Appraisal

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

I'm currently in the beginning process of refinancing my mortgage from an FHA to a conventional on my four-family apartment. I will be scheduling an appraisal here very soon. I was wondering if you have any tips or recommendations on getting the most out of an appraisal?

Post: Can appraisal be Re-used to shop for refinance

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

wow, I'm so amazed with this!

Post: Can appraisal be Re-used to shop for refinance

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

I'm currently trying to refinance my mortgage loan to a conventional. Is it possible to use one appraisal to shop around to a few lenders? I was told by one mortgage representative that I they could not use the appraisal from another company, even though I paying $400 for the appraisal. Any truth to this???

Post: How did you first start using your Self-directed IRA?

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

Mark, for later reading.

Post: How many phone calls to get a tenant?

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

Bryce, I just went through my first tenant turnover. I fielded probably about 100 call over about a month via Google Voice.

I will be implementing some of Brandon Turner's advice in an article he wrote. It lays out suggestions and steps to acquire a new tenant.

I especially like his suggestion to tell the prospective tenants who call that he will be available at the apartment from a certain period of time. That will eliminate your "no shows" and when other prospective tenants see competition it may create a sense of urgency.

Mark, for later reading.

Post: Duplex Deal Analysis

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

Well, the duplex sold last week. I believe is was 210k. Wow, this market is unbelievable here.

Post: Landlords... Do you provide pest control?

Rick L.Posted
  • Investor
  • Saint Louis, MO
  • Posts 198
  • Votes 25

Don't count on tenants to pay for pest control. I'm a firm believer in preventative maintenance. So, I spray this stuff twice a year, once in the spring and once in the fall. It's $40/bottle and will last you for 10+ applications.

http://www.amazon.com/Suspend-Insecticide-Roaches-Professional-Control/dp/B002Y57MGE/ref=sr_1_sc_1?ie=UTF8&qid=1369248337&sr=8-1-spell&keywords=susoend+sc