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29 July 2024 | 6 replies
(If so they will require you to submit forms every year until you sell so they can collect their state income tax on top of any state income tax where you buy.)
29 July 2024 | 6 replies
If it's a good tenant, and you are collecting market rent (which is a lot for a SFR in SB) this sounds like a pretty small job to cover to keep them happy.
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30 July 2024 | 6 replies
My uneducated two cents:There are no rules stating that you can't foreclose on active duty military, just that you have to get a court order to foreclose, under SCRA.An unrecorded quitclaim is still valid but not recording it opens the parties up to challenges and is not advisable.In some states, collecting rent while a property is in foreclosure, may be frowned upon.I'd stop getting advice from the "investors" you've been talking to.
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29 July 2024 | 12 replies
Can you keep it rented and collect?
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29 July 2024 | 10 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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1 August 2024 | 12 replies
But the management team was okay with sending out repair men like it's free, and failing to collect rents on time and making excuses.
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28 July 2024 | 6 replies
You will likely never get any money from that tenant unless you have VERY good collections processes.
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30 July 2024 | 23 replies
In fact, even if the training course is related to property management, claiming that you needed to spend $30k on education while collecting merely $15k in rent per year is a flimsy position. 4.
29 July 2024 | 40 replies
However, if you want honest and professional opinions from hundreds of years of collective working knowledge, than this is the place.
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24 July 2024 | 4 replies
I don't want them collecting rent and then driving both checks to the credit union to pay.