All Forum Posts by: Michael King

@Andre Taylor Sure thing. I have 10% down, everyone wants to see 20% PLUS 4% of all outstanding mortgage balances. Which means I would need $90K cash to get the loan for a $320K property. 

What is happening is I am getting a line of credit against one of the properties I own free and clear and using that to get the 20% down. And I don't need the 4%. 

I'd give Dalton a call, he will help you if he can find a way. Good luck.

$16K seems cheap for permits. If you're in Cali.

@Adam Murray I'm a nit noid nerd. I have a list. Mainly so I can give it to my CPA. 

An $1100 fee? I'd take the front door with me at the end of the lease, since I'd need to get something for my $1100. 

So sad this lady lost her life. @Angelique F. thank you for sharing the link; I was wondering how it ended. :(

A couple of times we've sold our personal homes, after a viewing appointment we've come home to find our drawers had been opened and sometimes items placed on top of the dresser/cabinet...we never noticed anything missing. Makes me really hate people sometimes. 

Wow those rents are way down. Guess the PO was tired. Looks like a great deal! Did you put down any of your own money on it? What's the current ROI for you? And how did you find the deal? Was it off market? Are they all 2bed/1bath? Where was it again? I think you mentioned it was somewhere east of Kansas City, right?

Pretty impressive you made it happen! Hey if I'm getting too frisky with the questions let me know!

Great job!

@Ryan Proffit Mate would you care to share the numbers on the deal?

@Ryan Proffit Congratulations on the closing Ryan! How did you organize the finance?

Sign her to a lease. Then there's proof the John is not on a lease. If he can't provide a lease in his name, and she can provide one with just her name....check mate, yes?

So if your property is tenanted when you terminate the agreement with the PM, you are on the hook for at least $500?  Per door? Wow what scumbags. On principle, I'd wait and kick the tenants out. Remember, it said "leased to a tenant".

So my strategy would be like said, not renew the tenant's lease and terminate the agreement (no fee that I see). Before or during the tenant's notice that you're not re signing the lease, have your new PM (or you) sign them to a lease for one of your other properties. 

You don't lose a tenant this way, and you don't pay above and beyond what you are already getting screwed for. 

Follow it up with a factual review on yelp, google, etc etc.