All Forum Posts by: Megan Phillips

@JJ Lopez you're going to want tenants to verify what they pay monthly/lease terms. 

I had a Fire Marshal inspection prior to purchasing a duplex, my understanding is that any infractions must be fixed by the seller, at their cost, prior to close. I'd do one and let someone else pay for the fixes before they are potentially your problem. If there aren't fixes needed, even better, but at least you'll have peace of mind.

Lack of communication. Perhaps I'm impatient but I expect timely (same day at least usually) responses because RE moves quickly. I like to be kept in the loop and not guess what is going on.

Don't assume that people know what they are doing because they are "professionals" - in any business, not just RE. People think others will know what is best because "that's what they do." A title doesn't equal competance. You have to absorb a huge amount of education before you even know what questions to ask (this goes for your agents, lenders, inspectors, contractors, lawyers, etc). Don't sweat the small stuff, and in the beginning, things seems like huge issues because they've never been dealt with before, but you can only go one day at a time, deal with things as they come, and learn along the way.

@Jill Thomas I am in one via the journal, other members are not from New England. One of our members has not been able to participate so far, perhaps we could add you as a member. Our next "meeting" is tomorrow, I'll ask what the other members think about potentially adding someone. I would second the new FB group for Vermont Area Real Estate Investors, just for sheer networking.

One of the podcasts was specifically about turning old kmarts into storage units, maybe contact that guest? I don't remember which number it was.

@Kim Pilcher is right, @Brandon Turner is from that area of Washington

It's a bank appraisal, not a town/county appraisal. They are different, it won't change your taxes.

Make sure you keep the records/communication about it being one parcel - if you sell in the future, you don't want zoning to say it wasn't a duplex and give you a headache because of a technicality. My duplex was listed as a SFH, it was a PITA to grandfather in as a duplex and caused major delays in the closing.

@Mindy Jensen more talk about healthcare hacking with geoarbitrage would be awesome too - that topic is pretty mind blowing/one of major worries for retiring early in the US - I've never really considered just moving!

@Rafael V. maybe speak to a real estate agent to verify your estimates, and they could make the offer for you also, talk to a few before choosing one to see if they are a good fit.