All Forum Posts by: Bill Crow

@Allen Lopez

Do you have their insurance info? Maybe you can open a claim (or threaten to) and get their attention that way.

@Michaela Baer

I have shown a few properties under reno such as flooring replacement, etc. Regardless of what prospects tell you, they can’t (or won’t) see past the dust and disarray, and you are likely wasting time showing it. Better to take a few days and make it pretty first, then show it and get it filled. Maybe others have had better luck, but that’s been my experience.

@Cassie Chun

I wouldn’t guess at the reason. Time to ask directly.

If it is a payday thing and the 5th is consistent, then seems like an opportunity for a reasonable accommodation. If you choose to alter your lease, GET IT IN WRITING. Don’t leave it to interpretation.

I’v never needed to make a concession like this, but for an otherwise good tenant, I would at least consider it.

@Marjorie Patton

Wait.... the inspector told you there were too many roots in the drain for them to scope it? There’s your clue - the pipe was already breached before you ever started. Shouldn’t be a surprise that the roots grew back.

While I agree with some of what Bob and Joe have said, I have a differing opinion based on your situation.

First, some clarification- you say funding is a hurdle, but it appears from your post that you are ready to go. As long as you have funding for one purchase securely in place, then I would say this:

You CAN write multiple offers, BUT...

(1) Do not write ANY offer unless you are ready and willing to close on the property if the offer is accepted. (Notice I said "willing" - ability must be there as well)

(2) If an offer you place is accepted, you should immediately withdraw any other offers you have outstanding. This serves to confirm your commitment to the one you can fund, and takes away some of the game playing Joe was referring to.    

(3) We're not talking about shotgunning large numbers of offers here. If you have 2 or 3 viable deals, there's no rule that says the offers must be sequential. Home buyers have multiple offers out all the time, especially in hot markets. And I can tell you that I have never put down earnest money before an offer is accepted.

I like the idea both Bob and Joe stated of a time limit on your offer. In addition to motivating the seller to decide, it also reduces the overlap period if you do have multiple opportunities to write offers. However, be aware that in a seller's market, the seller is less motivated to succumb to your imposed time pressure, especially on an investor offer. 

Good luck!

@Justin O'Malley

I applaud you for being ready to jump in. A few concerns:

You do realize the FHA 3.5% down is for owner-occupied only, right?

Management fee seems a bit light.

How much are you willing to do, and how much are you willing to worry, for a max profit of $100/month?

Personally, I think it sounds heavy on downside risk as compared to the upside potential. However, if you wanna pay for an education, that’s one way to start. Best of luck whichever way you decide.

@Allison Meggison

Not easy to find the owner when they use a corporation registration agent. A couple ideas: (1) try corporationwiki.com. Might be an entry there for the company with officers listed (2) if you know the property address, check the county tax records and see where the tax bills go. Good luck!

@Sean Blacker

You may want to read some other threads about service animal as opposed to emotional support animal. A service animal is trained and there should be some paperwork to back up that specification. Service animals can’t be denied or additional costs levied.

@LaVonda Young

I am familiar with your market area. Haven’t been able to find deals with a solid positive cash flow. The local rent rates don’t seem to support it except for student housing, which is not in my portfolio (especially long distance).

@Tina S.

I’m personally not a fan of the outside boxes because it requires a padlock for security and makes it inconvenient for the tenant (or me) to access the box in inclement weather, which is often when a breaker flips. In most of my rentals, the box is in the garage on an exterior wall. Weather protected and secure without additional keys/ locks to mess with.