All Forum Posts by: Michael R.

All my properties are 6.5 hours away and I do it from a distance. I require all my tenants to deposit the rent directly into my bank account. Also having a good team of contractors is essential. I also go up once a month to check on properties and also do closings and whatnot at that time at well. The only issue is filling vacancies but I really have not had to many issues with this. I keep my properties a notch above the rest and vacancies are low.

[quoteWhen this was posted you could have gotten away with this. Be careful because this type of activity is no longer legal. Review the RRP laws that are posted on the EPA website. Also you have legal resposbilities to your new renters of the property. Not following these laws can cost you big!!!

Why is this not legal? I am rrp certified and they never said there was anything wrong with repainting over it. If it was required that all lead paint be removed from pre1978 housing there would be a serious shortage of low income housing in this county. All my properties have lead all I do is repaint and put in new vinyl windows.

Where I am in ny a property manager can handle the evicition for the owner. However I want to handle only evicitions and didn't know if anyone out there was doing this type of service?
Thanks!

Can I evict tenants for other landlords even though I am not an attorney? Serve notice file papers and all other thing?
Thanks!

Arv about 45k. Needs about 1k work. Looking to buy and hold. Rented at 1200/month. Was thinking about doing a Land Contract. Any thoughts?

If I bought a property from a seller via a land contract how hard will it be to evict the tenant if they dont pay since I will not be on the deed in any way?

Seller owes 24k. I agree to buy for 35k. What would be the safest way to finance this property without getting conventional financing? Owner is open to all forms of creative financing.
Thanks!

I have a few questions about land contracts. I have bought properties from this seller in the past and he has held the note for me. He has a few more properties he wants to sell but they have mortgages on them. I do not want to get a bank loan and want to use as little cash as possible. Land contracts seem like it might be a good option.
Will a land contract trigger the due on sale clause if it is found out about? I would assume not as I will pay the seller who will then pay the underlying mortgage and T+I.
Also is there any out for the buyer as in a lease option or is this just a basic owner finaincing deal without the buyer taking title? I would like to stucture this the same as any other deal, 15yrs no ballon. Might be a good option however I would not want to put much money down as my interest might not be protected as I am not on title. Any advice?

I am looking to sell my property. My tenant wants it. Here are the numbers.
Sell at 31k
MY monthly PITI payment is 328.
I will rent to them for 600/mo- 200 goes towards downpayment credit. 3 year agreement. 7200 credit total. Asking 1500$ down up front option fee.
A few questions.
1. Can I make tenant responasable for all maintenance?
2. I need to write who will pay what closing costs into the contract so at end of lease their are no surprises correct?
3. Does it look like I have this agreement set up correctly?

This is my first lease option and any advice is appreciated!

thanks for the replys. What if the lease is a yearly lease? Can I cancel it early if I had to?