All Forum Posts by: Eddie L.

@Emillio Henry I use Speed Queen commercial machines and they are very reliable.

Check with your insurance carrier as some breeds aren’t covered or require additional liability coverage. I do not allow any breeds larger than a Labrador in my single family rentals and larger than a goldfish in my multi-family.

@James Lemon very nice! Did you purchase an apartment complex?

@Alan Smith do you mind connecting me with your friend that builds Dollar General stores? I am considering building them and would like to gain some insight.

@Chris DeTreville I had a lady call me Monday night asking if the apartment is still available. I politely say No, I have one that is coming available next month. I run through my pre screen questions and she fails due to low disability income. Insists she has additional income. I oblige and ask if she has a pet (I can hear the beast breathing in the background). She said yes and insists he has to come because he protects her. He keeps the bad people away from the door of the ratty motel she is staying in. I asked, what type of dog is it? She answers a terrier. I said great as my insurance doesn’t allow pit bulls. She responds, well he’s a terrier mixed with a pit bull. I politely said thank you and we can reconnect next year sometime.

Definitely visit before making an offer. I’ve bought a couple sight unseen and have always had unexpected repair expenses pop up. I was in escrow on a multi-family this week until I received the inspection report and asked the seller to offer a concession. Had I visited the property first I would have determined it was a no-go from the beginning and not had to waste money on an inspection.

My condolences for your loss. True character and tenacity is shown during our most challenging times. Your mom would be so proud of you for staying the course and reaching success.

@Shanice Waller I closed on a quad in February and while the building was in escrow the agent claimed all tenants were current. Two days before closing she told me one tenant was behind and would be current before close. Needless to say the challenging tenant was late on her first months rent with me and needed arrangements for the second month. Didn’t pay the third month which forced my PM to send notices. I had to QB the rental assistance program for the tenant. However, the program did bring her current and pay a few months advance rent for her.

@Maxim Yershov I have been using Rently to handle my out of state listings. It’s only been using them a few weeks but I’m happy with the service so far. There are some quirks, such as limited documentation like user manuals to read. Instead, you are referred to YouTube and to call their 800 # and leave a message for support. I have a property manager and have learned property managers are not the best for showing prospective tenants vacant units due to their availability.

@Jaquette Green all the posters seem to be spot on with their advice. I also would advise not to put down such a large deposit. I would recommend 1% of your offer price as a deposit. Never do a deal without an inspection. It’s better to loose $500 on an inspection than $85,000 after you purchase the property and realize it’s a money pit that’s going to take $20,000 to bring it up to your standards.