David B.
Rental Registration ? - City of Jackson MS
30 January 2024 | 13 replies
I just wanted to add:The new Ordinance from City of Jackson Mississippi requires registration of all rental units, the payment of an annual fee of $50 per rental unit, annual inspection by the city, fixing any inspection issues, a fine for late or non compliance.And, it requires out of area owners to have a local PM or agent.I believe the fines can run to be high dollars.
Maylin Cuello
Tampa STR zoning/licenses
28 January 2024 | 10 replies
If they were to enforce it with a fine or other enforcement mechanism, they would be sued and a court would strike down the law.
Rahnesha White
Quick claim deed- voids lender/owner title insurance?? Due on sale??
28 January 2024 | 14 replies
I also believe opining on how a change of circumstances effects rights and responsibilities under a contract is a fine example of giving legal advice.
Jack Lander
Who needs help getting started with wholesaling ?
30 January 2024 | 37 replies
So overall the deposition process would be: once buyer puts offer in and settle on a final price, we create the assignment of contract stating in for example 15 days, buyer needs to deposit x amount of EMD to escrow.
Brian Stefanelli
Direct Mail Then What?
9 February 2017 | 8 replies
I feel it's too pushy and presumptuous in the sellers eyes so I just continue to build rapport with them and tell them I will call them later that day with a final price.
Eric Smith
How Does an Impending Eviction Affect Your Buying Decision?
8 October 2016 | 26 replies
write it into the offer that you won't close until eviction is complete, all damages are remediated, & you do a final walk-through / inspection & confirm it's in proper shape.
Nate S.
Getting Prospective Tenants to Trust You When Managing from Afar
15 September 2016 | 5 replies
With one of them, who applied, it ended up with him asking me to prove I owned the property and going over the lease with a fine-toothed comb (after he missed a couple of deadlines to get things back to me, I moved on and denied him).I figured the facts that 1) prospective tenants see the property and can talk with the current tenants to ask about the property and me, and 2) that they have to submit an application and go through a credit and background check, and 3) that I was using Cozy to collect payments and 4) that I am available by phone, email and text whenever they want, would be enough to make people comfortable that they are not getting scammed, but it was apparently not enough for some people.Does anyone have any tips to help prospective tenants feel more comfortable dealing with you from afar and not feeling like they are getting scammed?
Bob Higgins
Private Lending Doc Prep ...why all the differences?
18 November 2016 | 7 replies
Not meaning to start a raging debate about who's right, because I suspect any competent pro in the list above could do a fine job.Just curious about what the thinking is behind the various doc prep routes I've read about from BPers so far, and which one might fit my PM lender situation the best.Cheers, and thanks for any insight!
David White
House under contract with no buyers lined up
24 September 2016 | 81 replies
There is a fine line between legally wholesaling, versus being an unlicensed broker.
Talmadge Lawing
Setting up LLCs and self directed IRAs
23 September 2016 | 7 replies
;Roth IRA funds are not subject to requirement minimum distributions (RMDs);The fair market value (FMV) of assets held in a self-directed IRA is reported on form 5498;The fair market value of assets held in a solo 401k are reported on Form 5500-EZ;At termination, the solo 401k is required to file a final Form 5500-EZ and 1099-R; andAt termination, the self-directed IRA is only required to file a form 1099-R.