All Forum Posts by: Steve Babiak

Jon - Shoot it to me and I'll post it in our form/contract directory.

That said, hopefully in the not too distant future, our members will have the ability to post attachments here on the site.

(josh [a][t] biggerpockets.com)

Kirk,

Pass it along to Josh Dorkin, so that it can be uploaded for all to access; his email address is encoded in the quoted post above.

0 Votes

Originally posted by John Cassar:

... Yes, found a site to do the research Retrans.com, ...

That site - http://www.Retrans.com/ - does not seem to be what the poster indicated; I get a site that looks like a "domain broker" has it.

0 Votes

Using 50% rule, you have $1300/mo for expenses, leaving $1300/mo for NOI. From NOI, you take your $400 of cashflow ($100 per door), leaving $900 to cover P&I on a loan. Depending on rates and terms you might be able to get, this could work for you as a rental to keep.

You then have to decide whether you want to hold a quad. And, one thing not mentioned by you was whether utilities are separate. Even though the utilities are included in the expenses when using the 50% rule, tenants not paying for utilities allows them to be wasteful (and thus pushing the real expenses above 50%).

1 Vote

Originally posted by David E:

Hi all,

This isn't an HOA issue as much as it is a city/county issue, but I just learned from my city inspector that the county my rental property is in (Prince George's County, MD) has a law stating that no more than five unrelated people can occupy a single family home. Of course, no one told me this when I bought it (through an real estate broker/investor), when I began renovating it (through a contractor/investor), nor when I applied for a rental license at the town's public records.

As owner / landlord, you are responsible for knowing how your local municipality defines the meaning of "single family". In one town where I have a rental, it's a maximum of 3 unrelated persons; in the next closest town, it's a maximum of 2 unrelated persons. And that definition can be changed by the municipality passing an ordinance.

More discussion of ow a single family is defined is at this next link:
http://www.biggerpockets.com/forums/52/topics/10860-how-many-people-in-a-single-family-

And the neighbors will be the ones blowing the whistle on you, should you exceed the maximum allowed, AND they get upset over something (parking, noise, guests, parties, etc)

1 Vote

Let's not forget about the ones that go up in flames; I posted about one here:
http://www.biggerpockets.com/forums/16/topics/34765-reo-not-yet-listed-on-mls

0 Votes

Originally posted by nationwidepi:

Josh, I have another suggestion.
In attempting to find some of my previous thread topics I started, there is not an option to pull up only the topics in which I "started".
I can get "posts since last visit", "my posts", and "monitored topics" but not "posts I started/created"

Will B
Nationwide

I have found myself doing just the same as Will described. So I gave Will my vote.

I would extend this a bit if possible though. If I am viewing another user's profile, I would like to be able to see the threads that user started somehow, and not just my own.

2 Votes

This is not some new thing. Happens all over. Some people take the entire kitchen, because they used HELOC money to buy it, and now the bank repo'd on the HELOC, Vacant properties have always been hit for the copper in the pipes; some thieves even punched into the walls to get the copper wiring. I've seen them take the toilets out too. Some have had yard sales before the foreclosure sale happens, selling anything a buyer might be willing to give them a few bucks for.

0 Votes

Originally posted by NC Mark:

Where I'm at they tack the notices up on big bulletin boards in the courthouse foyer.

If you hide around a corner you can watch the sneakier investors remove the notices for their own benefit.

What a system......

Same thing happens around my area, except that they post a stack of those notices, so removing one is quite welcome. Removing the whole stack from any single posted property is something I have not yet seen.

0 Votes

You should look at the actual deeds involved, Quite likely, each parcel has its own deed that spells out the bounds; if that's the case, then you would have to stick with those boundaries, or go through the things that Ralph mentions if you really want to make some changes.

0 Votes

Check the date on that OP - it's from 2007. And Abel / eagleone has a pretty low post count for 2 years. My guess is that he has left this site ...

0 Votes

All Forum Posts by: Steve Babiak

Steve Babiak has started 70 posts and replied 12704 times.

Post: Good Walk Through Form/Checklist

Post: Buying with cash at auction

Post: Fourplex - Wholesale or Keep?

Post: Code Violation w/Number of Renters

Post: Phoenix thieves

Post: Forum suggestion

Post: Phoenix thieves

Post: getting foreclosure lists

Post: Dividing property line

Post: Clarification on using a realtor