All Forum Posts by: Frank LaQuaglia

In addition to a renters insurance policy and vaccination records from their vet, we limit the size of the dog. we also add to our property rules that the dog must always be on a leash, they pick-up the dog poop and the dog must not disturb the other residents if this is a multi-family complex. 

Typically in a multi-family unit, snow and lawn care would be the responsibility of the owner/manager. This will avoid issues and complaints if one resident keeps their side neat and the other does not. You can add the cost to the rent.

Matt, I have done the HELOC for two down payments. One was 50k to buy a 10 unit apartment and the other was 11k to buy a SFH. As for paying them off, I pay 400 to 500 per month. As long as they cash flow I see no need to pay them off quickly. Make sure when you do the numbers that you are very conservative. Frank

I don't use Cozy yet but looking into using it. As for payments posting late to your account, have your tenants send their rent a week before the 1st so it gets posted by the first. Even with mailing checks, it takes time to get there.

Thank you for your response, I'll check out what the post office has to offer. 

Profit to all.

I have been mailing letters to absentee and vacant property owners for a while with some response. 

I want start a yellow postcard mailing to the same people and would like to know what process would require the least amount of capitol. 

Is it best to hire a service or get a list and do it myself?

What are the typical results and how often do you mail?

Thank you all in advanced for your assistance

I like to throw this out to the vast experience of BP member for some advice.

I'm talking to a potential seller and I'm looking for different options that I can use to help them out of their problem. 

Here is what I know so far. They purchased the house around 2005 for 103. Their loan was modified a few years ago to 97k. They stopped paying on the loan about a year ago. They are about 8k behind. The ARV is about 90k. I'm guessing it will need about 5k in repairs and they want 5k to relocate.

I would appreciate any advice. I'm meeting with them early next week.

Thank you in advance for you help.

I don't think there is enough of a draw to the area. I'll look to see if the bookings can provide any information. I'll wait a little longer to get it rented. Thanks for all your responses 

thanks for all of the responses. I'll pass on this project. There are a lot of negatives that can turn this into a money pit. I'll stick with SFH and flips closer to home. Thanks again

I'm looking at buying a 14' x 50' mobile home. The home is in a 55 and older community so buying and rehabbing (and possibly selling it) is my only option. I live in Ohio and the mobile home is an 8 hour drive away. 

It is located close to Cape May so I would think selling it should not be a problem. The current owner (an estate) cannot find the title or the VIN number.

Since this is a long distance rehab I'll need to find local inspectors and contractors to provide the scope and cost of repairs.

Any and all information and things to look out for are welcome.

thanks for you help