Michael Poloncic
Tenant breaking their lease
9 January 2025 | 8 replies
You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.
Thomas Farrell
BRRRR with ~400k Capital
18 January 2025 | 16 replies
Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!
Carlos Lez
Tenant's cosigner asking to break lease due to medical reasons
14 January 2025 | 9 replies
Patricia,Thank you for a detailed and a very helpful response.
Bryan Hartlen
Anyone have good experiences with their property management company?
18 January 2025 | 11 replies
.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.
Collin Luckett
Raising Money / How to Structure
9 January 2025 | 9 replies
Keep in mind all this stuff is uber regulated, very detailed, far from simple.
Jack B.
What are the risks of DSCR loans?
19 January 2025 | 9 replies
Here's a bit more in detail about how rates are calculated for DSCR loans:1.
Scott Johnson
Scammed by "Estate Legal"
31 January 2025 | 20 replies
After doing what I felt was enough research—even though the sales pitch was a bit pushy—I decided to move forward.Their pamphlet outlined several guarantees and provided additional details.
Dan Noci
How to delete a post.?
31 January 2025 | 46 replies
In the thread of a conversation, statements may be made that are fine within the context of the conversation, but may not reflect well or accurately when the snippet arises within a search engine or other index tool.There may also be information that I/we are happy to share with the BP community, but not necessarily with the Internet-at-large, especially any details about our specific properties or business practices and processes.
Timothy Lawrence
House Hacking Advice (Washington D.C, Nova, Baltimore Area)
8 January 2025 | 11 replies
For example, more downpayment means less interest rate regardless or whatever loan.I am trying to see what sort of action I can take right now so I can plan detailed and measured steps to my goal.