11 September 2024 | 9 replies
A couple ideas below:- Have tenants pay utilities if they don't already- Refinance into lower rate- Increase rents (or convert to mid term/short term rental or rent by the room)- Call the county tax assessor's office to ensure there was no mistake in the tax increase- Call your insurance broker to get you other quotes- Sell the property and 1031 into a better market that does not have those issues- Self manage if you currently have a property managerHope these help!
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13 September 2024 | 12 replies
I valued it by looking at comps for similar sized properties sold in the last 3 years, and the assessor's website.
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13 September 2024 | 7 replies
(Of course that's a lie but I believed it).
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12 September 2024 | 7 replies
@Marcus GriffinTypically as part of a modification the bank will have a “shock package” which includes information and forms to be completed by the borrowerOn those forms there are questions like will they or do they occupy the property, there income, do they plan on keeping th home.This is equivalent to lying on a bank application which is most likely considered fraud Not providing legal advice but this is definitely a very slippery slope you are getting involved in.
12 September 2024 | 9 replies
The saying in the business is (it's a bit jaded I admit) "see the tenant's lips moving, see the tenant lying."
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13 September 2024 | 50 replies
I haven't been able to find PM yet that I fully trust that can get a good tenant in there and get rehab/repairs done without getting lied to and ripped off since so many reviews on PM probably only include bad experiences.
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11 September 2024 | 4 replies
The real answer is that they have been lying about the data and revisions prove that.
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9 September 2024 | 3 replies
At minimum, look at the assessor's site on the lot lines but ideally, have it surveyed so you know what you will own (esp if you are going to build a fence or structure).Tons of lessons, always learning, looking forward to reading what others want to share here!
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10 September 2024 | 28 replies
Imputed value comes from taking the assessed value from the tax assessor and multiplying by the applicable factor that the PA Dept of Revenue has determined for that county and year.
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9 September 2024 | 12 replies
When there's a new property they take the tax assessor percentage of building/land value and use that to obtain the building value based on our acquisition price.