All Forum Posts by: Mitchell Litam

@Taylor Roeling Funny you say that. The property management company did a background check on them. I have asked for it multiple times and nothing. By asking for it I meant I asked my realtor to ask them for it. Thanks for your comment!

@Toby Mims Yes after watching a million webinars with Brandon I always account for prop management even if I am not using them at this moment hah

@Ryan Evans Yes the PM company sounds terrible. I love the Euclid area. It seems to make so much sense. However, I grew up a west sider and you know how Clevelanders are. I would invest on the East side but dont want to get my passport stamped. haha

Arthur,

Congrats on your first investment property.

Just curious what city you invested in in CLE.

@Andrew B. That makes sense now. I was originally looking at it as myself and the tenant but that would not make sense at all haha I was just overthinking it.

@Ryan Evans Thank you! The lease was pretty air tight. They used a property management company that I will not continue to use. She complained that they were not getting back to them in terms of the things that they wanted to do. They wouldn't even let them hang curtains, so this should be an easy transition. I just got the house inspected yesterday so hopefully it all works out. Its on the west side of W 117th on a nicer quiet street. How many houses do you have in CLE?

@Mindy Jensen

Im sorry you said seller and tenants or did you mean me as the buyer and the tenants

@Mindy Jensen I am reading through an Tenant Estoppel Certificate.

This may be a dumb questions but this is signed between me and the new tenants correct?

Not between me and the person I am buying from?

A section from this certificate confuses me a little.

"That there are no unpaid or outstanding claims, bills or invoices for any labor performed upon or materials furnished to either the Tenant or Premises for which any lien or encumbrance including, without limitation, materialmen, suppliers and mechanic's liens, have been asserted or may be asserted against either the Tenant or Premises."

Is there a generic TEC available to pro members from the Bigger Pockets documents? There wasn't one in the Ohio packet.

Thanks so much for all your help and answers!

@Mindy Jensen Thank you so much.

I have done most of those things but not all of them.

Still pending an inspection next Thursday!

I will get the rest of the things done because I did not get a move in form.

Hey guys!

Very excited to have purchased my first investment house!!

The numbers made sense. It came with tenants that I met. They are currently living there until next Novemeber and hopefully longer.

How does that work with the current lease?

Do I have them sign a new lease or do we all just initial the current lease?

How do I make sure the water and electric bill are all in their names?

Can they put it in their names?

Any common mistakes I could avoid would be greatly appreciated!

Thanks for all your help!

SOOOOO Excited I finally pulled the trigger!

Hey guys!

Very excited to have purchased my first investment house!!

The numbers made sense. It came with tenants that I met. They are currently living there until next Novemeber and hopefully longer.

How does that work with the current lease?

Do I have them sign a new lease or do we all just initial the current lease?

How do I make sure the water and electric bill are all in their names?

Can they put it in their names?

Any common mistakes I could avoid would be greatly appreciated!

Thanks for all your help!

SOOOOO Excited I finally pulled the trigger!

Thanks for all your help. The house became contingent an hour before I put an offer in, but after all your opinions and help I decided it wasnt for me anyways.

Thank you for everything!

@Account Closed I typed into google what the difference was between the two. 

The difference between modular and manufactured homes is often in the permanence. For instancemodular homes are placed on a permanent foundation; whereas trailers, or manufactured homesare built on a steel chassis with wheels attached. This is so the trailer can be moved or towed.

By that definition it def does not have wheels or can be towed.

 I believe it is modular.