All Forum Posts by: Debbie Carbone

Josh,
Great job you are a very relaxed interviewer. Most of all thank you for founding this site I am on it at least once a day if not more. RE is tough and very scary right now and I believe you have given people the source for information to educate themselves and you can't put a price tag on that. Great Job and Thanks again Josh.

Does any LL's have Commercial property? I have 2 units in a mixed use building and 1 recently became available not really big surprise to me with this economic crisis mess. But I have found a potential Tenant and want to screen them properly. I have secured a deposit as of yesterday with them and we are scheduled to sign a lease tomorrow I am trying to lock this up fast because I do not want to loose them. My commercial rental application is pretty lame I found it on the Internet and will be revising it. I know I need the typical stuff - personal & business reference, copy of drivers license, present living address, credit report etc. but am I missing anything?

Hi Michael,
I just read your BP topic. I will assume you have your answer but, you give you some info in case no one answered you. I have 2 Store Fronts in MA. and I treat them differently from residential. I charge what ever the per SQ Ft market rental rate is for the use (retail, office etc.). In addition I also charge them CAM fees. They are always responsible for their own utilities. I also have them sign a 3-5 year lease. Now in this financial mess these things can always be altered because we need the income and don't want to loose tenants. I hope this helped and if you need a copy of a commercial lease let me know I will email it you.

Now these are stories I like to hear. It seems that we only hear of the horror stories never any of the positive. I try to make an appearance at my building ( a 10 unit mixed use) at least 1 a week. Any time I see one of my Tenants I usually receive a kind thank you for all that we do in keeping up with the building and the needs. But I have had some really ignorant tenants. They came with the building and needless to say none of them reside there any longer. From my experience I do believe it takes a good 12-15 months to clean out a tenant building and get it on the right track. This is different for single families of course. I can't say enough about the Credit Report and the due diligence prior to renting.

Hi everyone,
With all the upset in the mortgage industry due to the "0"money down loans etc. I thought if a loan was written with less than 20% down the BANK made you pay PMI now isn't PMI insurance in case of default? Who receives the PMI payment Banks or Insurance companies? This PMI payment is any where from $200 -$1000 a month. In my simple mind if we are paying for a bail out then where is the PMI that was collected to cover this default loans. Shouldn't the PMI be putting up some or all of the bail out funds? Just wondering

Hi Susan,Jason &life students,
I sure was happy to find this forum. I am presently looking for private money and felt like I did not totally understand the process. I currently have 2 properties a 10 unit mixed use building and a 6 unit mixed use. I am placing an offer on a 45 unit building. Now in the past I used my own money for the 20% down but I want to keep my liquid money especially today. And after reading books and Teleseminars I come to realize I was actually wrong to use my own money. I will look at the link that Susan posted but when you use Private Lending of any sort what is the typical % rate? And what is the typical length of the term? I need approx $550K for this deal and would like to know all that I can prior to approaching a Private Lender. And Jason I like your concept on the Attorney you are correct keep the agreement simply understood but complete and precise. Thanks to all

Hi HB,
welcome to the site in addition to the welcome I want to say hats off to you. As an Investor I am always looking for property and recently starting looking in Orange County. So you write Grants?? Have you searched the Grants log? I will almost guarantee you may find some that would fit your situation especially with your son leaving for the military(Good Luck to him also). Check out the grants and send me an email. Debbie

Thank you Grandwally. I will contact the immigration.
Thanks,
Debbie

Hi everyone I have a (good) tenant that is presently in a lease with me. The situation is he is now dating a girl from a different country. He has called me to see if I can put her on the lease this will ensure her stay in the U.S.A. Before I make a decion on this I wanted someone's advice. Will I have aby ramifications? Or does it matter.. No kids involved.
Thanks,
Debbie

Hi Andrew,
I am from Middleton, MA. and a Real Estate Investor(Mostly Multi Families and Mixed Use). It is nice to know more people locally are joining the site. You will receieve so much much support and information on this site it will be your best source. I am probably considered a Newbie too. If I can ever be of help let me know.

Debbie
Tridea Enterprise Inc. :D