All Forum Posts by: Mike D.

You need to either mow it or hire someone before it gets crazy If you hire it out send them a bill for it or take it out of their deposit. 

I would also suggest getting a $150 gas mower at walmart instead of the reel mower. The reason they haven't probably mowed is because they don't have a real mower.

Awesome @Pete Bigit. Sounds like condos are a great way to cashflow in your area.

@Daniel Guerra

No! I learned that the hard way and lost about $3000 in down payment one time.

Any decent contractor can float a few thousand dollars. They can put a lien on your property but what can you do if they walk away with a down payment?

Keep calling and find another contractor.

Sounds like now would be a good time to get rid of any late payers.

The CARES act only applies to properties that have a mortgage backed by the federal government. Why can't people who own these properties just refinance with a local lender?

You only offer the seller's share of commision. Here in Iowa if you have a realtor list your home you will typically pay 6% of the purchase price. 3% goes to the seller realtor and 3% goes to the buyer realtor. So I FSBO'd mine and had to pay 3% to the buyer realtor but I kept the 3%. It's not a dual agency because the seller's realtor is not representing you.

You need to find a FSBO service that will put it on the MLS. I paid my FSBO service about $1500 to run an appraisal and put it on the MLS for me. If I had hired a realtor that would have cost me about $9,000 plus the buyer's agent commission $9,000 for a total of $18,000 commission.

@Da Zhang I sold my last 2 personal homes FSBO. If you're not in the area use a FSBO that puts it on the MLS and offer a seller's commision to the realtor who brings you a buyer. If you have a highly sought after condo it may literally sell itself if you get it on Zillow and FB at a good price.

@Nathan Gesner I think these "news reports" are just media propaganda to spread more fear about the virus. Did they go to the Detroit ghetto and do a study on housing vacancy? All 24 of my units paid up on time except 1 who was 4 days late due to a job loss. With all the stimulus and UE help I don't see how good tenants don't find a way to pay the rent. 

Welcome, Bill. Des Moines should be a good market for rentals.

Take a look at the ones that have been on the market awhile. Like longer than 2-3 months. They will either be way overpriced or when you go see them there will be something obvious that is turning people away. Stick to properties in good locations (good schools, low crime, close to shopping). Ping the listing agents of these properties to gauge their level of motivation and if they are still available. Good luck.