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29 June 2023 | 10 replies
Here is what I have so far:At any time before, during, after investment:I or any of my team unexpectedly dies, becomes seriously ill, or injuredAn impassable disagreement occurs between any 2 parties of the investment teamA member of the investment team fails(for any reason) to uphold their agreementBefore purchase:Incorrect property valuationInability to secure financing after earnestDuring Financing and purchase:Loan executor fails to follow through with the loan.Loan executor misleads or baits me with incorrect terms and conditionsSeller withdraws contractSeller tries to renegotiate contractSeller withdraws agreement to carry loanTitle issuesDuring rehabilitation:Cost overrun - If the cost to complete a rehab exceeds the estimated cost budgeted.Time overrun - If the allotted time to complete a rehab is exceededUnforseen issues - if issues arise due to unknown/hidden problems, termite damage, mold, etcProblematic Contractors - Contractors that want to increase the bid midway through the job, fail to pay their employees, don’t show up when scheduled, fail to consistently clean, low or no skill, do poor work, fail to carry proper insurance, do not use agreed upon materials and/or finishes, use the “you can’t see it from my house” methodology, dress and/or act not in accordance with accepted job site standards, live or sleep at the job site, steal materials, supplies, and/or tools, attempt to undermine my relationship with my real estate team including agents, investors, other contractors, clients or potential clients, places lien or sues, dies or is seriously injured during project, experiences major life event that prevents or hinders their ability to continue, contractor or their employee dies or is seriously injured on the property, gets OSHA or other governing body violation(s)Code Violations - Red flagged for failing to obtain proper building and/or work permits prior to beginning project, overgrown vegetation, etcProblems Specific to Rental Properties:Tenant does not pay rent or pays lateTenant does not pay utilities/trash serviceTenant causes damage to propertyTenant does not take care of maintenance and/or cleaning of propertyTenant smokes or has pets when these things are not allowedTenant makes unauthorized changes to the property, ie painting walls, removing landscaping.Tenant allows others to move in without adding them to the leaseTenant misused the property, ie drug lab, melting plastic in the oven, spray paint graffiti on shed, parks in unauthorized zones such as the grassSomeone injures themself while on propertyHouse fire, floods, other natural disasterMajor maintenance issues such as roof replacement, appliance malfunction, plumbing leak, etcTenant violates city code, ie noise ordinances, trash and debris in yard, etcUnavoidable costs such as normal wear and tear include failing appliances, scratched/scuffed wood floors, dirty paint, worn carpet, etc.After rehab:Property does not appraise and/or sell/rent for expected ARVInterest rates go higher than expectedProperty tax increaseStricter laws are put in place that prevent finance/refinanceThis is all that I could come up with.
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3 March 2019 | 6 replies
(It's 3 days in my state and I think yours too but double check that.)Once you serve that Pay or Quit notice, the tenant has to either pay the past due rent in the allotted time (i.e. 3 days or whatever it is in your state) or move out.
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21 April 2020 | 19 replies
She told me that the voucher dollar amount is the amount they are allotted for a specific bedroom house in a specific location.
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9 June 2019 | 31 replies
If your own allotted rent of $1,200 (for your on apartment) is more then you are paying now you should reduce your rent projected figure to meet you present rent.
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19 July 2023 | 15 replies
Zillow listings usually have the previous year's tax info and I believe most homes would have 3% of the monthly revenue allotted to maintenance.
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14 January 2023 | 158 replies
He also does allot of JVing with Papa - Ron LeGrand.
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11 December 2012 | 3 replies
Never heard of it, benefits are paid to retirees or for disability to the individual, they can have allotments paid to a creditor in certain cases but that is no gurantee, more like an auto pay.
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1 July 2018 | 10 replies
I have several properties in Cleveland and I have been allotting 5% capex and 5% repairs and haven’t really dipped into them much, at least not on a monthly basis.
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19 April 2022 | 7 replies
Honestly we're finding that if clients are proactive and use their sale side to control pace that over 92% of our clients are still completing their exchanges with regular exchanges and getting properties they like.What I see most is that reverse construction exchanges won't work 99.9% of the time because construction takes too long and runs well over the 180 days alloted.
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7 March 2023 | 21 replies
Can usually allot 5-10% vacancy factor and same for maintenance.9) Class B usually also okay, but needs more attention from owner and/or PMC.