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27 January 2022 | 7 replies
@Mat O'GradyIn my experience if the cash is coming from an already owned asset like a retirement account, the seasoning for 2 months doesn’t matter.
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1 February 2022 | 13 replies
Strap on your boots and get to it.
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7 April 2022 | 63 replies
Everyone else on your team will be transaction-based and not really involved after a purchase.We're in the Metro Detroit area, so you may want to follow our blog here on BP, but at least read the following posts:How to “Screen a PMC Better than a Tenant”: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesIn our experience you will need to:1) Learn to "Maintain to the Neighborhood", not your personal standards2) Tenant-Proof everything you can Hard surface flooring, not carpeting (too easy to trash) Same basic paint for everything No garbage disposals for them to break Only spring-type doorstops also with plate on the wall Glue rubber mats under sinks to prevent water damage Sheet aluminum on walls around stovetops, for easy grease removal Towel racks - screw 1x3 to wall studs, then screw rack to that Install low-profile downspout ext, not aluminum that always disappear Plan on cleaning gutters and leaves up in the fall as tenants won't Avoid garage door openers3) Have a great application screening process: Check credit for evictions & convictions, utility collections Focus on employment/income stability Require bank or debit card statement - you'll be surprised what they spend their money on!
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1 February 2022 | 2 replies
@Kathiuska Ramirez reach out to @Marc M. at Trius Lending.
20 May 2022 | 7 replies
Well strap in and prepare for MONTHS of searching.
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2 June 2022 | 6 replies
@Mat Yuriditsky reach out to someone who is investing or flipping Mobiles.
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6 June 2022 | 4 replies
I rent a Retail space in a high value small town, tourist destination for around $5,000/m, at 1,800 sq feet.
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7 June 2022 | 9 replies
If it were mine, here is what I would do.Call the Police Department (right tnow) and tell them a tenant is threatening suicide (on x date) and ask what to do.Haz Mat cleanup after finding one of these sad endings will be PITA expense and memory you don't need to live with.If it were mine, and he's lucid and approachable when not drunk, I'd warn him about the drunken fighting behavior and tell him it must stop 100% right now (no more) or he will have to find other housing arrangements, and if need be evict him (and be prepared for a Haz Mat cleanup, carpet replacement, smell abatement, the whole unpleasantness of handling the situation--Police tape, neighbors gathering around, etc...).
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9 February 2022 | 4 replies
I was wondering if anyone in the bigger pockets community could advise me on if there is a type of sound proof mat, carpet etc. that I can buy to lay on top of the hardwood in the living room and the bedrooms in the upstairs unit to minimize the sound.
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4 February 2022 | 5 replies
Originally posted by @Mat O'Grady:Any lender fees from getting a loan, monthly taxes, monthly insurance, utilities and maintenance fees.