All Forum Posts by: Lincoln Lewis

I'm building a single family home in Los Angeles and am looking for GC's to interview. Hoping someone could recommend a reliable general contractor.

Hi, I have a question regarding multi family owner occupied FHA loans. I heard somewhere that if a borrower puts more down such as 5% the 4 unit cap is extended. I'm looking at a 5 unit right now and a lender is telling me he thinks I would still qualify with a larger downpayment. Is this true?

Thank you very much Colleen

Very helpful, thank you Bill

Thank you Jon. Best wishes

Thank you for your thoughts William. Happy holidays

Hi BP,

I was hoping some more experienced folks might have useful advice. I have a property rented month to month with two women renting the place. One didn't have a strong rental history so her father co-signed (he has since passed away they tell me). This young woman (whose father co-signed) gave her 30 days notice. The other woman said that she would be staying. I just got a call from another property manager saying that the two of them applied for another rental. This 2nd woman has not given me her 30 days notice. My question is this : How should the deposit money be distributed? I collected one deposit check, not two but I'm sure they think that each is entitled to half the deposit. How should I deal with this issue? Thank you very much for your time and experience.

Lincoln

Thank you everyone, great answers and much appreciated.

Hi, We're in contract to buy our second rental property so I'm a bit green. It's a duplex with tenants in both units with existing lease agreements. How do I deal with things like late fee policies, collecting rent, etc when they've already signed a previous agreement?

Thank you for your help.