All Forum Posts by: Nik Corbaxhi

@Will Fraser I have not had any good experience with facebook. It is irritating and after trying it for about a week and getting a lot of “Is it available” or “When can I see it”, I opted for other non-free advertising platforms (Zillow, Trulia, HotPads, Realtor) and had much more success.

@Kasay Mardis, you have an obligation to have locks and door handles in working condition, regardless of whether she chooses to use it or not. Go check the lock out and if it is jammed, just change it. This is low cost and will make your tenant happy. 

@Marcin G., all valid concerns. Head to the town hall and get information there. People in BP can give you ideas of what to ask for, but as far as zoning goes, that would be the town. 

I think you have your questions covered. Also, when you inquire about this, there is also a chance that the brothers never got a permit for the changes, (new kitchen, bathroom ...etc), so it could backfire on them as well as the town might want to investigate and hit them with a fine for not getting a permit. It all depends how the town sees it. 

@Samantha Skrypek, the bigger question is why the back end of the garage collapsed. Is it because you neglected or postponed to fix it? if that is the case, yes you can argue all you want that your contract states you are not responsible for personal property damage, but the contract also should state that the conditions of your property are livable and functioning, that includes, roof, sinks, drains, lighting, heating, etc. Get to the core of the problem and do what's right.

If you decide to somehow not cover the damages and you get to get away with it, I would also start looking for new tenants. I highly doubt this tenant would stay there under those circumstances.

@Darius McCormick, you are very young and ambitious and that is great. Not many people your age are thinking nor taking the same initiative. 

While I agree with all of the other posts above, I would strongly recommend you to go to school, even if it is an Associate's degree and focus on taking classes that will make you understand the basics of real estate, accounting, appreciation/depreciation, interest compounding..etc. This can help you learn as well as network with people that might have the same interest as you. While books are great to inspire you and show you the ropes, you need to (1) understand real estate, terminology, and the basics for yourself, and (2) find someone that can guide you through the process and steer you away from failures. Good luck.

@Bobbi Jo Hilt, congrats on your purchase. I don't think you have much of an option here. You have to honor the current leases that are in place until those expire. Only then you can have the tenants sign new leases.

For now, you can work on making sure you reach out to tenants to introduce yourself and also provide them with information on how you will be receiving payment going forward. 

@Eric M., you were the one that provided the links to what the consequences can be if something big happens. The city will never care if you are running an illegal apartment, UNTIL Sh t hits the fan, meaning until someone gets hurt. It all comes down to whether you can sleep at night knowing you are exposed to something that can get you big time for a few extra hundred dollars a month. And yes, you can argue that everyone is doing it, so why not me? Absolutely not against it, I am just trying to point out the risks that come with doing so.  

Definitely talking about my city. :) but what I can tell you about ANY city is that when $4it hits the fan, the city has to hold someone accountable for!

are you sure you are not purchasing a car wash? :)

jokes aside, it does seem extreme and I would probably follow up with the agent/seller asking an explanation why the extremely high excess charges. A good realtor should be all over this before you do. Not questioning him/her, but I know mine would have the answer before she even presented the numbers to me. Definitely worth pursuing as the numbers look insane. Something fishy is definitely going on.