All Forum Posts by: Suzanne B.

I know costs vary widely.  I'd like to hear some guesses or first-hand accounts of how much it costs to install HVAC and ductwork in a house that currently only has radiator heat.  This one in particular is about 1,400 sq ft, single story, has a full basement and a full attic.  Located in the south where it gets hot, insulation is good however.  

I live in an historic area where many houses have detached carriage homes that people use as rentals.  I am curious to know:  A) are there any loans specific to situations like this (single family residential, but with on-site rental unit), and B) is it possible to use the potential future rental income as income qualification on the loan?  That latter question may depend on if the current owner is or ever has rented it out.  

We bought a rental property in an artsy area that was undergoing a massive transition from being run-down to now a real hot-spot.  When it came time to list the property, not only were there few other renovated rentals on the market, but our property was about twice the size as the others, making it hard to guess fair market value.  Since renting it out, we've come to realize we really undervalued the rent price.  

I believe fair market price should be at least 20% more than we are charging.  However, I know that when our current tenants lease is up, it would be difficult to raise it that much and also keep them.  They aren't the best tenants, we're had some problems, nothing major, if we lost them I wouldn't be heartbroken.  But, that would mean a vacancy and losing rental income when vacant.  

Is there any sort of formula that investors have found that shows what % rent increase can/should be made if wanting to keep the tenant in place?  For example, has it been shown that tenants tend to agree with a 5% increase but not a 10%?  Or 10% is okay, but 20% causes them to move out?  

To be specific, one I am looking at is with Lima One, their new RENTAL30 program. They advertise 75% LTV with no down payment required.

https://limaonecapital.com/rental30/

I've found some investor-funding companies that offer, for example, "75% LTV lending with no down payment." I'm having a hard time wrapping my brain around this. Does this mean that if the value is $100k but you are able to get it for $75k, that means you can get 100% financing with no downpayment? Would the LTV mean the current value, or the after-repairs/potential value of the home?

Hello, I am curious to see if anyone has a link to somewhere that lists specific state/city requirements for Airbnb hosts.  I live in Memphis, and I know that in Nashville this year they passed a law requiring Airbnb hosts to obtain an annual license and also they are now required to pay hotel-type occupancy taxes.  I cannot find anything online about laws for Memphis - not sure if that means there are none, or if I'm missing something.  I have asked around to acquaintances here including people that host, and no one knows.  I have asked Airbnb and they refuse to give "legal advice" and just say to ask my local government.   Airbnb has a list online of certain cities that have such laws, but it may not be up to date.  

Before going through the headache of having to contact local govt departments to try and get an answer, I thought I would try asking on here....  Thank you.  

Also curious about nextace.com and searchq.com  

I saw a previous suggestion on here to use lienlist.com to do basic title searches prior to buying at a foreclosure auction.  They currently charge $69 to do a search, however I understand it is NOT a guarantee - just more of an FYI and search of online documents.  My only reason for using would be to find any junior/second liens or judgments on a property.  Has anyone used lienlist.com and found they are accurate in identifying second liens or judgments?