All Forum Posts by: Tosin Oluwatoye

Quite scared to purchase in Philly at this point....lol

@Ned Carey 12 month's ago, all 3 apartments were mice-free as established by multiple walk through's. This apartment has enough clutter and conditions that would definitely engender mice ( took pictures during the Inspection)

Tenant is on Mo2Mo lease and the lease states tenant is responsible for exterminator expenses. I'm not how the Pennsylvania law swings on this topic but can do some further research. 

Thanks 

@Sam Shueh, they definitely can, but i'm struggling to understand the context of your question.  This one apartment has poor housekeeping,  visibly infested with significant amount of droppings in corners around the kitchen.  

The other apartments are clean with no evidence of mice activity.

Hello BP folks.

First year owning this rental property  and we decided to be perform the inspection exercise ourselves.  We used the template checklist from Brandon's "managing rental properties" book which we found very helpful. 

We found a serious mice infestation in one of the apartments and are considering notifying the tenant (written) on our findings, order the pest control service and have it billed to the tenant but was wondering if anyone has done this differently with results.  Any  tips/advice is appreciated. 

Thanks 

Makes absolutely no sense!!!

Those fees are ridiculously high and like many on here have said, you can shop around yourself and save a ton of cash!. Typically, I'm not a fan of companies that shop your credit around. those multiple hard inquiries(which you have no control over) will come back to haunt you!.

I've had this company call me and tell me to just fill out the pre-qualification application which costs only $1. No disclosure on the monthly fee or on the upfront 9-10% fee on any of ur LOCs. 

Run!!

I would file a report at the minimum was I to find myself in this situation.  It at least puts a record out there which will help other landlords avoid this pitfall. 

Hello BPI, 

I was out shopping insurance quotes for a 6 unit M/F property. My Insurance agent pointed out their max for a landlord policy is 4 units and anything above that has to go commercial. Is this industry standard practice or are there landlord policies out there for > 4 units M/F properties?

I will also like to know if it is advisable to go with a commercial property over a landlord policy as the #of units involved gets higher (6 in this case)

Thanks

Great Job, your story is actually very encouraging!

Hello BP Community, I am trying to finance a mixed use property and APRs have returned between 9.3 & 10.2% (20% down Fico >700) with fixed and variable tenures. Needless to say I wouldnt be going along but the folks im working with have said thats the average out on the market and that mixed use tends to be much higher & complex than straight commercial.

I Will like to seek advice from those who have been or currently down this path. What other options are available?

Thanks