All Forum Posts by: Tracey B.

Michael S, what do you mean tenant disappeared? Were they locked up for violating probation? lol Are you saying they abandoned your property?

Tom are you implying you are brilliant in the political arena? Because last I heard anyone that listens to Beck or Gingrich is a far right loon. I bet you also think Obama is a muslim right? I have watched Bill O Reilly before and I can't take it. The propaganda stuff is crazy. Every day he warns against how dangerous Mexico is, give me a break.

Ok, well sounds good. Here we need whats called a multi family dwelling license where the city comes in and inspects the unit. I would candidly ask the seller why they have been reviewing another offer for a week. If they're telling the truth, maybe the other offer is too low. If that is the case you need to ask them where do the numbers need to be for them to sell the house to you. Make sure to review leases and such, actually your contract may want to read that you have an inspection period to verify all information under which you can cencel the deal if something he told you was a lie or didnt fit with your investing strategy.

Will, even if someone forges a deed, if its not recorded against the property, a title search would reveal that and they would be forced to record their deed before they can sell. Under what circumstance would a title company accept something not recorded?

Billy, do you have any zoning, multi family dwelling licenses or other requirements for multi units in your area? In my area we have to have license, lead certificate on each unit, separate meters for gas and electric. Does the unit require these things? Does it have separate meters? Can you view proof that tenants are paying each month and not behind? Also, the asking price has to be in line with the value of the property. Have you had a realtor pull comps for you or have you done any research on what the true value of the property is? Do you know what kind of rents to expect per unit and do the rents fall in line with the current leases? I would need to know these things to really help you evaluate such deal as everything has a price. On the surface though I would be interested in it. Have you done a walk thru, how are the tenants? Do they have bad attitudes, have they given you any complaints about the owner? Definitely talk to the existing tenants and see what they have to say, they may tell you things like "the roof leaks, etc etc." Be sure to do your due diligence. I bought a duplex in move-in condition and a few months after I closed, the furnace needed ti be replaced, the roof leaked, etc. These things can get costly if you aren't prepared. Make sure you check out the roof and furnaces.

Tom, what is a race baiter? You post a lot about race, what's your deal?

I use Buildium. It is an online system so you dont have to worry about buying upgrades and it can be accessed from anywhere. Its not too costly either but is great for bookeeping. Also you get free help whenever you need it.

Mark, the way your listing reads that you attached says that they have to pay $1200 plus $3600. If you are only charging $1200, then the listing needs to clarify that as $1200 security deposit. Prospective tenants will see that and understand that $1200 + $1200 is $2400. I suggest you do a listing on craigslist yourself with pictures and see what happens. Often times, realtors may not be seriously following up on email leads via craigslist and as someone else asked, what has been their feedback if they claim to have done so many showings? Try craigslist yourself and see what kind of response you get.

Mark W,
I suggest you do what other say and post on craigslist and also postlets and how about in the Sunday real estate section if such exists in your area and put a large for rent sign in the yard with your number. I would not use the realtor unless they do mls access. If they arent willing to put in mls at a fee you are comfortable with I suggest you find another realtor.

Jason,
How did you determine $700/mnth? If it is a 3 bedroom, you should definitely be able to rent it for a lot more. If I was you, I would call the local section 8 office and ask what they pay for a 3 bdrm home and/or scan craigslist for similar type homes in your area. A lot of times new landlords underprice their rental properties. The house looks awesome and should yield you a good market tenant or if you want some drama in your life, a decent government funded tenant. Make sure to go to postlets and put pictures in there and also post on criaigslist with pictures. From my experience, my properties will rent for what I ask as my prices are always in line with what government will pay for such properties.