All Forum Posts by: Jeremy Tillotson

It would be best to have 2-3 local contractors give you a estimate. You then get an idea of what it will cost of future projects, and maybe someone to do the work when you get the deal.

I would get an llc and keep all finances separate. Quickbooks or a management software like rent manager (which I use) is very helpful as well. 

in our student rentals we do and get great money, tv, (large screen), cable, internet, all utilities, maid service once a week. Parents love knowing everything is handled, rent per bedroom cheaper than the dorm and our roi is over 30%

I am in Fort Wayne, I wouldn't consider it turnkey without them. I usually get new appliances and take the extended warranty because of above issues. I have my own contracting company but would rather not mess with them, the warranty seems to average out to what my time would be worth anyways. 

most people assume the trustee and beneficiary are the same. I jeep them different just in case of legal problems, the trustee can not answer questions about the beneficiary. 

First why double close when you could just assign the contract? I always put ernst money with title company. Always put contract in company name in case something goes wrong. Make sure contract is signed before you try to find buyer. Good luck and message me if I can help.

If you are flipping, it may be worth something to stay away from payments, then if things take longer you are not the only one suffering. Obviously everyone wants it to sell, just if it doesn't monthly payments can eat at your bottom line. I would offer more percentage on the back end, and if he says no give him a lower option with interest payments.

You really need to talk to him and see what he is looking for first. One guy may want monthly payments, some people want a percentage of the profits. Its worth asking what he is looking for before drawing anything up. Remember friends can sometimes be the hardest to negotiate with. 

I use rent manager. They have a stand alone version that is affordable. I use the online one I think it cost but it tracks tenants, properties, and units so you can get a better tab on maintenance issues. 

i didnt but having done a few tax sales, i see the basics. go to your assesor and send letters before redemption is up.