All Forum Posts by: Ray King

Hello Bigger Pockets Family,

Can anyone recommend a company to create an LLC and Land Trusts?

Thank you.

Thank you for the insight, it is much appreciated. 

Hello Everyone,

How do you figure out a budget for fixing up a house in-between tenants?

Long term tenants are moving out end of the month, July 2020. 

Single-family home (3 bedroom/1 bath) with a detach in-law (1 bedroom/1bath).

Due to COVID not sure how long it will take to rent, and should this time be used to do some improvements that could affect the overall property value?  

Is there a "formal" to use figuring out the dollar amount to spend for the return to gain?

Thank you.

Update: Tenants requested from me a "rent verification" for their next residence. I agreed to provide the "rent verification" after the final payment was received. So, the last month's rent was paid. Yay!!  

A Million Thanks To Everyone Who Responded!!!

Grateful For Your Feedback & Expertise!!! 

How do you handle tenants trying to move out and not pay the last month's rent? Tenants have given proper notice to move. Lease ends July 31st. June 30th Tenants ask for "rental Vertifaction" ASPA for a new rental. Tenant informed me their last date of occupancy will be July 15th. Not sure how to address this situation. Thank you. Respectfully. 

Wow! I under priced my home. Accepted an above list price offer (sought the advise of several realtors who did CMA's, and only one of the realtors price the property close for what the contract price ended up as). Was concerned property would not apprasie for contract price. Especially when a new roof was needed. The lender/buyers appraisal satisfied the lender for the contract price (they would not tell me how much property appraised for). I have scrapped up funds to pay for new roof and one other large ticket item on inspectors report. Now there giving me a hard time because it is not being done fast enough!

Thank you to everone who responded. 

The buyers could not/can not get financing to purchase or insurance coverage with the age of the items: roof and electric repair 

-I have Single Family Home under contract price 220k - buyers inspection noted 2 items:

1) roof (shingle wear) replacement estimate:4,500-8,500. I was told the roof had 5-7 years left/no leaks

2) electric panel (does not have 1 main breaker to shut down panel at once) estimate:3500k - 4500k.

The panel is called a "split bus panel" with 4 main shut-offs. Code is up to 6 main shutoffs.

Buyer's appraisal came in at 220k (at least that is what buyers realtor said). 

How do I approach the negotiation of the additional costs? Especially, when the appraisal is equal to the sale price with an "as is contract". Thanks to anyone who can help me.