All Forum Posts by: Mona Lisa Harrison

Good job! Cute. Love the towel "rack."

Your verbiage for "About this rental" leads with 2 negatives. How about something more like this.

River Therapy!

Come sit by the river! or ON THE RIVER on the 400 SF dock. Fish or Kayak or just snooze in the hammock. Large yard space for Fido or games. Even EAT by the river with the picnic table and BBQ pit.  Single, couple, or family - Come find your zen at Sliver by the River.

( Slope down to river is rather steep and may challenge some folks.)

Questions:

Can you add a pic of the BBQ pit and table? Kayaks? 

Is there a fishing pole or two there?

Staging idea: add some color on the dock for pics. Maybe rug, pillows. colorful cooler, plants?

Best of luck. Let us know how it goes.

It Pays to Pay Attention

Mona Lisa

Here are the latest statistics from Greater Greenville Association of Realtors Board and MLS.

I was upfitting a STR for client and we wanted it to 'speak to ' Greenville. I found some awesome vintage and more recent hi res photos of the Greenville area online at the Library of Congress. Who knew?

Copyright free too! I downloaded. Had them printed at Walgreens and framed them.

They ( The LOC) also have lots of old maps of everywhere.

Warning: It's a rabbit hole that may extract many hours of your time...

I am an agent and investor and I have been asked to help with a local REIA meeting that is centered on Due Diligence. They are seeing evidence of members investing without doing enough, or the right kind of due diligence on a property or opportunity. The results are not pretty....

I want to teach the concepts through role playing as folks remember stories and dialogue better than "talking heads."  I plan to make signs for the participants to hold with their stage name and role in the transaction to help keep things clear.

I know we can't cover everything in this one meeting, but at least we will give our members some food for thought and make them dig a little deeper at their next  opportunity. This year I have been contacted several times AFTER the purchase to help "clean up the mess and rescue the investor". So much better if calling for help would have been done BEFORE the purchase. 

My thoughts so far include:

How to evaluate a note.

Questions to ask the owner/wholesaler when buying a property.

How to run comps or have someone who can do that for you...who you totally trust.

Determining exit strategies at the beginning.

Your thoughts and suggestions are much appreciated.

(Asking for help BEFORE, not AFTER...)

There's a lot more at play than who is calling the White House home. And, as always, location, location, location. We know people are moving around in big numbers. You need to know where they are leaving and where they are going. Who is going to go from being a homeowner to a renter? Will the Gov't interfere with rent collection? What are prop taxes going to look like in your state?
Fortunately, I own a crystal ball.....

My first thoughts on this:
What if you didn't close???
I stick to the premise to never spend money on property you don't own.
What if you didn't close? Could the owner have made you liable and pay for those trees?

another possibility. They may actually be associated with that property, but they don't WANT to be. You may be a bill collector, or worse. So .....

From Inman News about  Biden policy:

The Biden campaign’s housing proposal
pinpointed the dearth of housing supply as the driving force behind the
affordability crisis. In response, Biden has pledged to invest $640
billion in housing over the next 10 years. Among other things, the plan
would provide “financial assistance to help hard-working Americans buy
or rent safe, quality housing.”

The plan also calls for increasing supply via “investments in
resilience, energy efficiency, and accessibility of homes.” Moreover, it
promises more construction and the refurbishment of affordable housing
units through the establishment of a $100 billion Affordable Housing
Fund, which will include a $20 billion investment in the federal
government’s Housing Trust Fund, among other investments.

Biden’s housing proposal tackles “redlining and other discriminatory practices” in the housing industry head-on, devoting a substantial portion of his proposal to these topics. He specifically wants to create a “Homeowner and Renter Bill of Rights,” modeled on a California law, that among other things would apply more regulations to lending and foreclosure processes. The bill of rights would also prevent landlords from discriminating against tenants who receive federal housing assistance.

In a departure from the current administration, Biden’s plan seeks to rollback “Trump Administration policies gutting fair lending and fair housing protections for homeowners.” He also plans to to eliminate local regulations such as exclusionary zoning, which “perpetuate discrimination.”

Housing-related taxes

Biden has said that if elected he will roll back Trump’s tax cuts, presumably including deduction rules for things like mortgage interest and local and state taxes. His plan also specifically states that his overall $640 billion investment in housing will be “paid for by raising taxes on corporations and large financial institutions.”

Additionally, Biden plans to give first-time homebuyers a refundable, advanceable tax credit of $15,000. This would assist people in buying homes at a point in their lives when they often don’t make enough money to qualify for other kinds of tax benefits, and would allow first-time homebuyers to receive the tax credit when they make the purchase instead of having to wait to receive it the following year.

Homelessness

Another entire section of Biden’s housing proposal is dedicated to homelessness, stressing “a national strategy for making housing a right for all.” The proposal calls for emergency funding for things like shelters and vouchers; policy reform to prioritize a “housing first” strategy to solving the issue; and special policies for certain groups such as veterans, LGBTQ individuals and the disabled.