All Forum Posts by: Steve Babiak

In my area, and likely the one you are buying in as well, the local municipality will want to perform a code inspection of the property whenever it changes hands so that a Certificate of Occupancy can be issued. If the use of the building is inconsistent with the zoning (sounds like this is the case as things stand), then you might not be able to get the Certificate of Occupancy; without that, you may not be able to legally make your units available for others to rent.

He may have had posts removed completely; those lead to very large deductions. And you don't want to have large deductions on your influence; it's not like your income taxes :)

Josh,

I used the "update" feature to add the text shown in my above post. Turns out the original posted text went away. This seems to be different from updates that I had done at other times ...

Not intending to hijack ...

Yes, the vote is there - Josh must be right again!

The thread in the link shown below has a link in it to another site that contains an assignment contract that can be used as a sample.

http://www.biggerpockets.com/forums/12/topics/38928-pdf-

I agree with Jon, as I use my own criteria because I want to be sure the deal will be profitable on my terms. The things mentioned by the OP are somewhat useful for filtering properties, but ultimately an investment must make money.

Originally posted by David Marasco:

Also, I would look at local Real Estate Association offices.

There are times when the state Realtor contracts are a good fit, and using those documents in the cases where they fit works. The Realtor documents are usually "neutral", favoring neither Buyer nor Seller. But the Realtor documents are typically designed to protect the Realtor in any transaction, and may not give Buyer and Seller the types of protections that they may desire. So YMMV if you expect to use these for everything.

I believe the "PRO" account allows for the signature to show sooner than 10 posts.

Originally posted by P NW:

...
You saved time on screening and look what it got you: no only lost rent, but probably some very expensive damage.

If the tenants know how to work the system, it is going to cost you some money to get them out.

It is cheaper to have a vacancy than it is to have someone in your house, doing damage, and not paying rent.

Isn't that the truth - couldn't have said it any better.

Jon,

If rents are really $800, sounds like you keep it - as long as you make sure you get a really good tenant. You don't want trashy people trashing your place after that extensive amount of work.