All Forum Posts by: Peter M.

@Yamit Besso Every state has very specific lien laws. For example one major difference is whether it is residential or commercial. Contractors have to follow strict rules for liens and if they dont, it can be invalidated. Look up your state property code. Talk to a lawyer that specializes in liens. It will depend a lot on the wording in the contract. If there was no contract it will be tougher. But to answer your question, you can appeal the lien, file complaints with the state or professional associations. Its an unpleasant situation so I hope you get through it.

@Jesus Cordero Its easy. They want money. And they want proof that you will have the ability to repay via a track record or collateral i.e. property value. If you dont have either, they will turn you down. Simple

@Chris Hodge Another vote for LVP (or just VP). Stairs can sometimes be an issue depending on location and condition so if it won't work ill go with carpet and just expect to change it at turnover.

@Brent Beard With contractors there are 3 metrics: quality of work, speed of completion, and low cost. Choose what matters to you. 1 of 3 is about half of all contractors, 2 of 3 is about the best you could expect. 3 of 3 is the unicorn and if you find a unicorn they usually don't stay that way long either because they are actually good and very busy so they raise prices. Also did you know you can send money to a phone number or email even if they don't have an account? They will get a notification and have to set up an account to get their money. I dont recommend it though.

@David Denelsbeck The short answer is no. You should be more concerned with cash flow for 1-4 family.

@Keaton Edwards Slightly below market rent, incentive programs like first month rent free or moving cost paid, low or no deposits. These are usually used by big complexes with lots of competition around them or in bad rental markets. I would never use these except maybe the first one even if it was a slow market but I've never had a problem attracting tenants.

@Sarah Waterman @Dave Foster

@Luke Easley You seem to be short on cash but you could talk to local banks about SBA loans. Unfortunately right now most banks are backed up with PPP loans. They make so much money from the government off the PPP loans that normal SBA are getting put on the back burner.

@Charles Johnson Its hard to say what to do without knowing the specifics like grade and soil type. But the gravel or crushed granite would probably be your best economical solution for the driveway. I also prefer surface drains to French drains. Right in front of the garage you can put a full length channel drain with grating and maybe French drains along the side. You could do it yourself but I would find a company that will warrant their work. That way if it doesnt work they will come back and find a way to fix it. Much better solution than doing it yourself and getting it wrong only to have to re-do everything.

@Avery Rustad So let me see if I understand. The university will forego getting paid by the student loan and instead allow the student to use the money to purchase real estate with the help of seasoned investors who are being paid by the university to teach the course and mentor. In exchange, the university will be entitled to a portion of the profit but will have to pay insurance premiums in case the student fails in their investment. Then the university will have to determine a way to grade the performance and award a degree. Meanwhile the loan money they want to get paid is tied up in an illiquid asset owned by the student. To me the cost and risk is more than they could ever hope to make off of 18 year olds buying a house that they are going to throw parties in and destroy. If this model worked then universities would be doing it with more established industries like medicine and law. But you're thinking outside the box and getting practice defending your thesis.