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All Forum Posts by: Marie S.

Marie S. has started 28 posts and replied 109 times.

Post: Selling with a Tenant in Tennessee

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

Has anyone recently sold a home with a tenant in Tennessee? Was there any nuances that I should be aware of? In most states, the lease survives the sale. I would expect that the same exist in Tennessee. My husband hired a property manager that insists that we can't sale a house with a tenant in it. I could be wrong, but it sounds a little sketchy to me. 

Post: It's Official... I passed my RE exam

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22
Thank you everyone.

Originally posted by @Nathan Weaver:

...Do you have any tips or suggestions as I pursue this option? Brandon suggested looking into a FHA or FHA 203k loan option which could lower or eliminate a down payment and increase ROI. I welcome any input. Thanks

I went FHA on one of my purchases. From my personal experience, I would say refinance as quickly as possible. With FHA you pay a substantial amount in PMI. It's like throwing money down the toilet. Literally, it's a couple hundred dollars a month that don't go towards your interest, principle or tax escrow. A total waste. To me, it was detrimental to my buy and hold strategy. Here in the Quad Cities there are several Credit Unions and local banks on the IA side that have very unique and valuable financing options that I haven't seen anywhere but here. There is absolutely no reason to go FHA while here in the Quad Cities. If for some reason, you only qualify for FHA, refinance as quickly as possible. It could be the difference in a couple thousand dollars in your pocket a year.

Also, good credit goes a long way, but a good credit score in conjunction with a good debt to income ratio makes quite a bit of difference. Talk to a loan officer or your credit union financial advisor and they will be able to tell you which nickel and dime debts to get rid of.

I hope this helps.

Post: It's Official... I passed my RE exam

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

I made that huge leap and passed my exam several weeks ago. Given that I've finally contracted with a broker, you will most likely see a very different profile (if not see this profile become dormant) very soon.

If you're on the fence about getting your license, don't be. There are people that are successful at this without a license. Those vets get my respect. However, the network I've built in the last several weeks have paid off in the best way - in the investor sense. Getting educated and passing my exam has been an eye opening experience that I would experience all over again if given the opportunity. I'm very glad that I did. I'm so excited and can't wait to post my success (As a licensed Realtor of course).

Post: New Member/Investor in Clarksville, TN

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

My husband and I have invested in Clarksville, TN since 2008. We're going to be looking to liquidate soon. Let me know if I can be of assistance.

Post: Can I save this Bathtub?

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

Goo Off works wonders. You can get it at the hardware store.

Post: I Will Pay a Small Fee For Your Tenant Horror Story

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

I'm finalizing the content in my book that is set to be released in May.   While I aim to show that landlords (and tenants) from all over the country have a range of terrible experiences;

the stories of landlord-tenant issues I have vetted are not showing a range of locations. If you would like to share your story with me, my website is:

http://www.landlordtenantrelations.com/take-survey.html

If you have issues loading, you can go to my G-drive form:

https://docs.google.com/forms/d/18S67EmT0H6f3kb8QQ0RSl_Ghz8l7ui-PjRDknQPr8UU/viewform?c=0&w=1

Please let me know if you have questions.

Post: I'll admit it I suck at painting!!!!

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

As far as the latex paint: One coat primer and 2 coats paint - even if the paint has the primer mixed. Also, wait for the paint to dry before you make any moves. Sometimes it looks like crap when it's in that weird semi-wet stage.

Post: Anyone Using Commercial Washers and Dryers?

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

I'm thinking about putting a commercial washer and dryer in a multifamily. All of the major stores (Home Depot, Menards and Lowes)  have poor ratings on these washers and dryers. Are these things worth it? Are the as poor as the ratings?

Post: How do you deal with passive aggressive demanding tenants?

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

@Kyle Hipp They're not getting any calls at night because the tenant called me. This was the third late call. I get an email and text letting me know that a tenant has called. I made test calls from my husband's phone just to be sure that the answering service answers. The services works without fail, even at 2 am. While my tenant may hate an answering service, they are in place to facilitate the processes I have in place when I'm not available. Not to mention, I use Rentec Direct. She could just as easily log in and submit a work order.

Post: How do you deal with passive aggressive demanding tenants?

Marie S.Posted
  • Investor
  • Davenport, IA
  • Posts 111
  • Votes 22

@Angelo Behar 

Burned out light bulb...How did you know?!  I actually use my Google Voice number to give to tenants. Apparently I'm not using it right! I set up the app on my iPhone and have never logged in since. The whole premise behind giving the direct line is in case of an emergency. I guess I foolishly didn't expect someone to abuse it.

@Elizabeth Colegrove 

We are definitely cut from the same cloth. I charge the tenant when they call a plumber out at 10 pm to remove their sock shoved in the kitchen drain (-which is unnecessary because every tenant is issued hard and soft drain stoppers). I've never charged when I was called unnecessarily. Do you charge a flat fee for the emergency call or do you charge by the time?