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All Forum Posts by: Malkia Ra

Malkia Ra has started 5 posts and replied 176 times.

Post: Can a real estate agent refuse to send the offer I proposed?

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188
Quote from @Theresa Harris:

Your agent needs to present the offer. If they won't, tell them you will find another one who will.


 Period!  The agent works for you, not the other way around.

Post: Remodeling condo kitchen

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188
Quote from @Dan White:

I think so. Kitchen and bathrooms seem to be the most picked over for looks and appeal. It also depends on your strategy...flipping it (Yes), BRRRR (Maybe), STR (yes)...just don't crazy on the reno costs.


 Agreed!

Post: 1 years rent up front

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188

Yeah, it's concerning... but a 790 credit score and a whole year's rent upfront??  I'm jumping on that.  After I've super-screened them, of course.

And I agree with @Joe Norman

Post: My agent chose an 18 day closing period. Is this normal?

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188

(1.) Your realtor should have discussed timelines with you before you executed the contract.  30 days is the standard for financed purchases.  I've only been aware of shorter closing timelines for cash-only transactions or if the market had super DUPER low inventory, and you wanted to get the deal closed as soon as possible before the seller could consider any other offers.

(2.) You're still shopping lenders after the contract has been executed?  That too is strange.  Finalizing your financing takes time on the lender's end.  You're on a slippery slope if you're still entertaining other lenders and you're attempting to close in 30 days, much less 18!

Post: Tenant Late With Rent Last 4 Months, Should I Non-Renew Lease

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188

Sounds like you've answered your own question.  Besides, why renew a lease with a late-paying tenant??

Regarding possible eviction, you need to consult with an experienced eviction attorney now to prepare.

A word of advice:  Take the emotion out of it.  His circumstances are unfortunate, but they're not yours to consider.  This is business.  You're in business to make money with minimal headache.  He is no-longer an ideal tenant, move on to the next.

Post: What is your biggest challenge with contractors?

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188

In my experience, bad results/quality.

Post: Seller Won't Vacate After Sale

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188
Quote from @Bill B.:

Written In a “not to beat you up tone”


If I’m buying from someone that says they need 2 weeks to get out (I’m don’t like it because of possibly hidden damage or damage done moving out, but have done it several times.) my addendum would look like this. 
    
We’re going to hold $20,000 (or more) for possibly hidden damage or damage done moving out. Yes it’s a lot, but you’ll get it in 2 weeks anyway, right?  I understand your plan is to be out in 2 weeks and we both know things happen so just in case They do and you need more time I,m going to put two options in for an extra week at $1,000 each. That gives you a full month. After that something major must have happened but I still need the space so let’s call it $1,500/week for the next 4. We both agree there’s no chance you’ll still be here in 2 months right? After that you’re really going to want to find somewhere else because we’ll be at $2,000/week. 
 
Then you just send a written reminder a few days before each “extension” kicks in out of their prepaid reserves and hope you don’t get to where you don’t have enough to cover discovered damage. 


 Brilliant!

Post: Owner wantes to move out after closing. What is my best action?

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188
Quote from @Andrii Sazhnev:

I am in the process of buying out next flip, and the homeowner (an elderly woman who lives by herself) need to move from the property afrter closing, because she will use the money from closing for her next house/ rent. I havent had this happen to me before, so I wanted to ask you guys, what the correct next steps I should take. My idea was to have a contract made by an attorney, agreeing to a specific time period in which she would have to leave the property, she's saying she should need about a week to move. Any input will be greatly appreciated!

This is common practice called a "rent back."  The seller's realtor will need to include a rent-back agreement with the contract.  If you agree, funds are withheld for this reason until the seller moves out.

Post: Closing today - non-paying tenant still in place.

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188

Definitely consult with an eviction attorney ASAP.  Good luck.

Post: Emotional Support Animal - Bogus "Documentation"? FHA, ADA, HUD

Malkia RaPosted
  • Rental Property Investor
  • Prince George's County, MD
  • Posts 177
  • Votes 188
Quote from @Steve K.:

No, you most likely don't have to accept this "note" and it does not sound like the tenant has a legit claim in this case. I'd start by calling whoever wrote the note to see if they're even a real person and can verify that the tenant has a legitimate health reason to need the Emotional Service Pet, and if so then verify that whoever wrote the note is qualified to write prescriptions (must be an MD, PA, APRN). People often get Emotional Support Animals, Emotional Service Pets, and Service Animals confused. ESAs and ESP's are not Service Animals and are not protected under the ADA, so landlords have a lot more say in whether they are to be allowed or not and whether pet fees apply. ESA's are however protected under the Fair Housing Act, Section 5. 

Here's what my lease says about them: Failure by Resident to obtain written permission from Manager PRIOR to introducing an ESA or ESP is a lease violation. The standard pet fees and any applicable lease violation fees/penalties will apply if Resident(s) are found to have an unapproved animal while not in compliance with ESA Certification requirements as follows: ESA Certification requires diagnosis from a LOCAL health professional. The local health professional must have licensure that allows them to legally write prescriptions (MD, PA, APRN). Master level certifications such as LCPC, LCSW are not legally allowed to write prescriptions and letters from these practitioners will not be accepted. The health professional and the person with the ESA must have an ongoing relationship, not just a one-time assessment. The letter must be signed, dated, valid for the entire period of the lease agreement, and on the official letterhead of the local health professional. Manager must be able to verify the presence of a disability (but will not inquire about the disability beyond verifying it's existence) and the link of the animal to the disability with the local health professional that provided the certification. The nature of the disability does not need to be disclosed. Manager does not accept any ESA certification obtained online. Legal reasons Manager may deny an ESA, as per the Fair Housing Act Section 5 and as determined at the discretion of Manager, include:

  1. The animal is too large for the accommodation size.
  2. If the building has 4 units or less and the owner lives in one of the units.
  3. If the property is a SFH and the owner owns less than 3 SFH's.
  4. If the animal brings an undue financial hardship to the building owner.
  5. If the animal causes damages or harm to others in the building.

This clause usually scares tenants away from trying to sneak one in, or ask for forgiveness after the fact. I charge hefty pet fees. 


This is EXCELLENT!  Thank you for sharing.