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21 May 2024 | 15 replies
Hi, my goal is to access the equity in the rental property.
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22 May 2024 | 4 replies
Get prequalified with a loan officer in that market that has access to MORE THAN ONE program and that will help you with what your options are.
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22 May 2024 | 17 replies
I once started to sue a local MLS but they changed their position as long as I was clear in the listing that I wasn't the owner of record but had an interest in the property I was selling and they didn't want to open a can of worms.To make it easier I just started getting a specific power of attorney from the owner on title along with a clause in the PA that allowed me rights of access, etc. and the MLS had no problem because it was really no different then say putting a probate property on the MLS
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22 May 2024 | 8 replies
I try to avoid this neighbor due to lots of activity of cars coming and going all weekends and week evenings.After much effort and skip tracing I was recently able to locate the out of state owner of the property on the side and promptly sent another certified letter as earlier mentioned.The big problem I may face soon is if I sell this property I may face issues from the buyer or buyers insurance company regarding these trees overgrowth,Short of me digging in my pocket and paying for tree service there is also the issue of contacting the owners requesting permission to access the trees for trimming.
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22 May 2024 | 5 replies
A lot of people prefer "simple" agreements, but truth is, there is a lot of moving parts in the property management business, and the PMA should take this into account. 9) Access for communication.
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23 May 2024 | 11 replies
You’re on-site for maintenance issues or tenant concerns, which cuts down on the hassle of traveling to a separate location.Loan Accessibility: Getting a mortgage for a duplex can be easier than financing other types of investment properties because you can use the potential rental income from the second unit to help qualify for the loan.Tax Benefits: Owning a rental property can open up opportunities for various deductions like mortgage interest, property taxes, operating expenses, and depreciation.Disadvantages of Investing in DuplexesPrivacy Issues: Living so close to your tenants means less privacy.
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21 May 2024 | 2 replies
If they didn't have access to their kitchen and the hotel didn't have a kitchenette, they are impacted with higher costs to eat while they were displaced.
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22 May 2024 | 6 replies
The warranty company takes its time accessing the situation, and then they tell you there is a deductible; they only cover so much that you need to use their preferred company, which will take three weeks.
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22 May 2024 | 19 replies
Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.
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21 May 2024 | 4 replies
If access to the property is consistently denied, lease violations are enforced.