3 January 2025 | 8 replies
I consulted with a real estate lawyer a few times this year who said it's very hard to sue for negligence and they advised against taking legal action, especially since the property manager at least followed through on the eviction and repairs.I've now asked the property management company to apply a $4k credit for all the challenges I've had working with them.
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11 January 2025 | 31 replies
And that is a licensed MLO Lawyer or in some instances a RE broker..
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4 January 2025 | 4 replies
There’s normally action items that can be implemented into your management process that are more effective.
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5 January 2025 | 5 replies
Having watched many prior co-workers get paid, cash their check at the casino, and promptly deposit it all into a slot machine I can tell you with pretty good certainty that casinos don't have a positive effect on disposable income and good use of the existing income in the area surrounding :)Are there solid local employers OTHER than the casino in a 15-minute drive?
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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15 January 2025 | 39 replies
Can waste a ton of time, money, and effort on this which could be used more effectively evaluating deals, strategies, and markets where you can find returns.Good luck and feel free to connect if you'd like to chat more about it!
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15 January 2025 | 13 replies
A2: No, for labor only.Q3: I paid my GC via Zelle and my lawyer by credit card.
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31 December 2024 | 3 replies
A lawyer might be able to answer this better, but most rentals fall under fair housing laws (there are exceptions) and that protects against discrimination based on familial status which means children or someone who is pregnant.
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13 January 2025 | 21 replies
If you have the time to devote to it, direct to seller methods can be very effective, but will take ultra-patience and intensive work.
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15 January 2025 | 34 replies
They stated that they were not a lawyer so they couldn't comment on the legalities of my question and they still worked for the bank so they couldn't give me any more info without losing their job but assured me that I was on the right track, keeping asking these questions and don't stop until you find your answer.