All Forum Posts by: Sarita Scherpereel

Most of the time, it's not one big thing that cancels the deal. Honestly, it's easier if it is. But the reality is most of those concerns are visible during the first showing. The real issue(s) that come from the inspection is how everything thing adds up. If you have a bunch of $1k issues that can add up very quickly. 

Water is typically my biggest deal killer. If the wall is not bubbling it's really hard to tell without a moisture reader. Water issues can spiral into a serious of investigations to figure out where it's coming from. In some cases you might not get clear answers or need to do more investigating than the deal is worth. 

That is really awesome! How did you settle on Raleigh? Is this just your area or did you look at multiple locations/cities?

Welcome to the community! Glad you're here. A great way to network and meet people in your local community is to attend in person meet ups. 

BiggerPockets has a section just for this, Under the BUILD YOUR TEAM tab- then select- MEET UP

https://www.biggerpockets.com/forums/521

 Just FYI some of these threads you have been commenting on are pretty old. This one is from 5 years ago. I've done that a few times myself. 

You shouldn't be recommending people use the CAR lease if you're licensed realtor in Chicago. As page 1 of the lease states- "This form lease is provided as a member service by the Chicago Association of REALTORS and is restricted to use only by MEMBERS of the Chicago Association of REALTORS and those who are party to a transaction facilitated by a Chicago Association of REALTORS member."

@Daniel Baker I wouldn't be publicizing on this platform that you're giving this lease out.  There have been a few people in trouble for doing this over the last year. Just want you and others to be careful as they have been cracking down on this. This is mentioned on the form over the last fews months a lot. 

Welcome Back! 

I just wrote about this on another thread.

Whenever I see properties that are being sold by an owner who did SROs(renting by the room) they are usually in rough shape. The better ones seem to have a dorm room structure of cleaning and caring for the units with chore assignments. It does seem like the owner is less of a landlord and more of a glorified RA.

If you can find the right tenants and live there as long as possible to make sure care is given to the space, I believe that will go along way. But this is really up to you doing the work. Realtors don't typically like to do rentals under the $2k price point due to how little money they will actually make on the sale. At least that me....In Chicago. 

This structure seems to work best for house hackers looking for roommates in their friend group to help cover the mortgage. We see this a lot in the collegiate markets of Chicago. There are specific facebook groups for these types of housing. I'm sure Austin would have something like that. There's even a group here for people wanting to rent from smaller landlords...verse lux buildings.  

Just be careful about the lease structure when you get ready to sell. Having leaving leases line up so that any future owner can easily move in or even get financing is ideal. It will help with your exit strategy...down the road. Definitely ask your realtor in your market about that. Please give advise on here based mostly on the thing they see in their market and experience.

I hope this helps. Best of luck! 

I think if you approach the conversation with tact, you might be able to feel them out. 

You could even say- I know it's early but we are lightly thinking about next year and decided if we have to renovate (or whatever). Obviously, these thoughts are based around your plans to stay. There's no need to give any definitive answers at this moment. Just wanted to check in and see how things are going on your end. 

Having a conversation like that might be able to help you feel them out. And they might know right away they want to leave or tell you. But until it gets to the appropriate time to actually make those decisions it's nothing you can hold them to. 

Personally, I would wait unless you are dying to get in and renovate. They have so much time left on their lease. Asking now is so premature. And if I was the tenant it would raise concern. 

Hi Jack. We work with a lender that helps first time home buyers get started that might be a good fit for you. I'll just sent you her info. We just closed a deal with her and I'm obsessed with this new program. 

Section 8 gets a bad rap just like all tenants you can run into some problems. The most important thing is to make sure you understand the ins and outs of the program, what type of condition your home(or whatever you buy) is required to have and the fair housing laws. 

That's really awesome. I wish I had such clarity on my path in life at such a young age.