All Forum Posts by: Karen Johnson

I’m excited to read about your project as this is in my neck of the woods. I’m a newer investor with a focus on buy and hold. I️ do think it would be great to do some flips to generate capital. Would be great if we could connect at some point.

https://www.biggerpockets.com/renewsblog/2013/11/02/hack-housing-get-paid-live-free/

You have to be careful what option you select for PayPal. Technically, this would be a fee for goods/services (for which there is a fee) as opposed to a transfer of funds between friends and family (for which there is no fee). I don’t know what the implications would be if PayPal discovered you were incorrectly using it one way vs. another. I use cozy.co. In the past, I used Chase’s e-pay system (requires you to have an account at Chase). You could use something like popmoney or Zelle or similar.

I also forgot to mention - Zillow doesn’t do the background and credit checks, but I do believe renters can fill out some sort of “profile” that may or may not be useful to you.

I’m not familiar with any sites that let tenants fill out an application (unless you have your own website). Is your question specific to the credit check and/or background check? If yes, then cozy is a good site for that, as is smartmove.com. I have used both, but somewhat prefer smartmove because I can see the tenants’ credit history in more detail. In both cases, tenants can enter their information and pay the fee and you will get a report.

You might want to check out this thread: https://www.biggerpockets.com/forums/52/topics/499696-beware-of-fraud-by-erentpaymentcom There is also an facebook group for those affected by this issue.

Hi Mario Alexandrou. To Ryan Tuleja ‘s point about insurance, I would suggest you call your insurance company first and ask them for a list of dangerous/restricted breeds. My primary concern would be making sure that the insurance won’t get cancelled because of the Rottweiler. If convenient, I would meet the dog because I’d want to know what type of personality it has, and I would probably also request that the tenant procure additional insurance for the dog in case it bites anyone and provide documentation to show it. All this assumes I was allowing pets (which I have done in the past, but have decided is not worth the hassle anymore).

@Paulette -thanks again! I see the precise answer I need in one of your links!

Thank you, Ethan Giller and Paulette!

Hello,

I'm hoping someone can clarify this for me as I've gotten conflicting information. 

Scenario: Husband and Wife purchasing home that is owned by Husband's Grandmother, Mother and Uncle jointly (each have 1/3 interest and all 3 are on the deed).

My understanding:

Husband and Wife are considered a single entity for purpose of this transaction. No transfer tax is owed on 2/3rds of the property owned by Husband's Grandmother and Mother. Transfer tax is owed on 1/3rd of the property owned by Husband's Uncle as there is not a direct lineage.

Conflicting information I've received:

*Additional* transfer tax is owed if Wife is on the agreement of sale and deed transfer, but avoided if Wife  is left off the transaction and added to the deed at some later point in time.

I understand and accept the usual disclaimers (consult a lawyer, not legal advice, etc.), and would appreciate any comments on this issue. I did try to find the answer to my question (and plan on seeking legal consult), but I thought it best to ask here as well.

Thanks!