All Forum Posts by: Charley F.

Congratulations! I am a newbie in the "buy and hold" but within a year or so I will be looking into rehab. Very inspiring story, make me anxious and looking forward to jump into it. :)

Your comments are very welcome! I will find about FL.
Thank you Jon!

Thank you everyone. It seems we are in the right path. I had the perception that there were other more powerful means to advertised. Many great suggestions and will take actions upon it.

Thank you guys again for sharing your experience! :)

Hello everyone. I have a property manager who takes care of my properties for rent as I live 4 long hours away. It has come to my attention that they are relying solely on zillow, craigslist and a sign in the property to advertise.

I believe there is room for improvement but I need suggestions from seasoned and experienced people. My expertise is low was I am relatively new in the business (1 year).

All suggestion will be appreciated. Thank you in advanced!

Greetings all. My first tenant have move out and I have assessed the condition of the property. Now it has come the moment where I have to place a value that will be removed from the Security Deposit.

Overall the property is in "decent" shape, except for a few things such as:

- Tile grout are excessively dirty.

- Patio door lock had to be replaced. Previous one was damage during tenancy.

- 4-5 walls where tenant painted patches of 2-4 feet in an attempt to have the property look better, however, the paint was different tone. It looks poorly done and is noticeable.

- Refrigerator door knob was poorly painted by tenant in an attempt to make it look nicer.

- Left garbage in the garage.

- Tenant change toilet seats. They seems ok, but are the cushion kind, not sure if they will last as the regular ones.

- Tenant changed the lock (without consent) but left all keys. Original have to be installed back.

- One closet door pivot point is broken.

I know that if I get to hire someone, it may exceed the value of the deposit ($600) so I will be doing most of it except for the paint and grout due to time constrain as the property is 4 hours from my location.

How do I put a value for the work that will be performed?
What suggestion can you offer for the future?

All comments will be appreciated!

Thanks!

Hi Jonnie:

The financing is through your bank, credit union or any other financial institution, so all current rules apply. Home Path is a program from the owner (Fannie Mae) and the only thing it does is to allow you to put 10% down instead of 20%.

When you put less than 20% you are forced to pay what is called Private Mortgage Insurance or PMI. Home Path allow for no PMI.

Basically you put 10% with no PMI, which is amazing!

How to get it? I don't know, I got lucky that the house was already under the program. However, this is information that your realtor might be able to provide from the MLS, it is not something that you apply for or file paperwork.

Good luck!

Thank You Ryan. The house does not have shutters, mostly the reason I want to know more about it "how does it work". Best.

Greetings all:

I have tried finding information in regards of the steps and responsibilities for landlords as well as tenants before a hurricane hits.

I am in Florida and there is a possibility of a hurricane heading our way.

As landlord what things do I need to do or what are my responsibilities in a case like this? The same applies for tenants.

Kind regards.

Congratulations! This is something I am looking into, I hope it goes as smooth as yours!

Your best bet is to get an agent. You will have to do a lot of work before you get to something. They will get you quotes of the few insurance companies available.

I hear that Citizen was put in place because most insurance co. let the state. Citizen is funded by the government and should be your last resort.

I am in the process of submitting an application for an umbrella policy the see the rate, but as far as my numbers go it is not that much (for 1 million liability).

I'll let you know if I get any additional info.

Best.