
18 October 2024 | 7 replies
Can I require additional deposit to cover the accidents this animal is going to make?

23 October 2024 | 28 replies
Protecting Against Bedbugs: Bedbugs can be a nightmare for STR hosts, but here are some proactive steps:Mattress and Box Spring Encasements: Use bedbug-proof covers on all mattresses and box springs.

19 October 2024 | 5 replies
Seller financing is very hard to get.Most seller has the intent of collecting all the money upfront for a new property.To entice the seller to accept a low down payment, agree to the purchase price without negotiating, cover the closing costs and if there are any commissions involved with brokers/agents.

20 October 2024 | 8 replies
- **Addressing the Cesspool**: Since the cesspool is a known issue, consider including some language in your listing that reassures buyers this is normal for the area, and perhaps offer to cover some closing costs or provide a credit toward upgrading the system if necessary

18 October 2024 | 5 replies
The roof and drywall should be covered by your wind insurance.

20 October 2024 | 32 replies
This is two years late but I happen to know quite a bit about this subject.

18 October 2024 | 7 replies
All an agent should do for you is list the property to generate showings => to generate applications, that YOU then screen.Now, they may actually be asking you want screening criteria you want them to advertise, which is fine.Can't answer your question though, without knowing if this is a Class A, B, C or D property - as they will all have different criteria.Here's a sample of some of what we use in our Metro Detroit market:Class A Properties:Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

17 October 2024 | 5 replies
I want to cover home and commercial sales as well as rental ownership and management.

20 October 2024 | 17 replies
A hard money lender who does NOT require a "subject to" appraisal (which is an appraisal done with your scope of work in hand, and the appraiser gives you the after repair value) is 100% NOT doing you a favor. at all.

17 October 2024 | 4 replies
Get a few quotes. and if you do not do it, when you go to refinance into a long term loan the appraiser will likely mark the report as "subject to" a structural engineer report of the foundation. and you will not be able to refi until you have done the work that is required.