All Forum Posts by: Park Pratt

FP,

That is correct about the SFR, but you can also rent the SFR for 2-3 years before selling. You can still sell tax free so long as you lived in the property for 2 of the last 5 years.

Park 

If you signed an "exclusive right to ..." document with the realtor, you will have to pay them their fee wither you rent it or they do. Before you rent it, it is in your interest to figure out what contractual obligations you have to the realtor. If you are obligated, you need to either get on them or their managing broker that they are not doing their job, and possibly at that point request the exit of the contract that obligates you to pay their fee.

Personally, I just posted on Zillow, which also posted on Trulia. that is how I just rented my house. 

First Property rented! I have a $600/month Positive Cash Flow from a single family house, a stable tenant and the freedom to look for a new property!

Looking for thoughts and recommendations on prices for lawn care (mowing specifically) and snow removal. Have a possible renter that would prefer to pay for the services than do it themselves. What do you normally charge for that? Monthly fee or per mow and per storm? New England location so lawn mowing generally is April-October and snow January-March.

@Cody L., Thank you for your response, that was more the intent behind the question. I think my safest course of action is to call the inspector Monday and ask them some questions. I have had many interactions with them, and they have already inspected many of the projects I have worked out in this house. I just want to ensure that I am legally protected.

I appreciate all of the responses though, and I will be taking extensive photos prior to renters moving in.

Thanks again, Park

I have just found tenants to rent my primary residence in the Hartford, CT area. Before I sign the lease with them, a friend from St Louis, MO mentioned that I might need to have an occupancy inspection. This is not anything that I was aware of, but I wondered if I could get this information from a bigger pockets investor.

Hello. I am a in my second year on BiggerPockets and shamefully have to admit this is my first post. I am trying to decide which direction to go. I am about to sell my first house. I have made lots of improvements and should walk with a considerable amount of capital. I want to get more units, and wonder the benefits and drawbacks of multiplexes vs apartment buildings. Am I more limited to what work I can do myself? I wired my entire house with exception of the main panel. Park

My wife would like to know, was the 3 day event actually filled with good knowledge or just lots of bells and whistles to get you to go for the master program? She's an interactive learner and wants to be more involved in our real estate venture but doesn't want to waste time at a workshop that's actually just a sales pitch for a more expensive workshop they recommend she attends.

My name is A.Park Pratt, M.S.

I am in Newington, CT and I have been educating myself to get into REI. Several months ago, I got into the Rich Dad books and then found their school. and while I was bulled in at the start, the costs seemed reasonable at $500 for a large amount of information. Then got the sales call, they wanted to sell a one on one GURU for $25,000 I was honestly considering it, just figuring out how to finance it when I ran into one of my new mentors at Home Depot who brought me to BP and saved me all that buying potential!

My experience is diverse with both hands on, I gutted the upstairs of my current house (My First) and I feel as though I did a fair job with it, and in a few years will likely turn around and use it as a rental. 

I want to get started some time soon, just looking for a good opportunity!