Daniel Colon
Lender won't let me move the property to my LLC
19 June 2024 | 32 replies
If the property will be in your personal name, make sure you have an extra umbrella policy so if God forbid you get sued, you're not putting your primary residence and other personal assets at risk.
Mindy Nicol
Guest requesting full refund due to rain
16 June 2024 | 33 replies
I hope you have one.I don't give refunds for acts of God that are beyond my control, especially when they haven't even taken place yet!
Steve Welty
Everything You Need to Know About AB 2216: Pet Ownership in Rental Housing
13 June 2024 | 3 replies
Landlords worry that the security deposits allowed under the bill will not be sufficient to cover these damages.The presence of pets can lead to higher maintenance costs due to wear and tear, noise complaints, and the need for more frequent and thorough cleaning.Financial Implications: The bill prohibits landlords from charging additional rent or security deposits specifically for pets, which landlords argue is necessary to offset the increased risk and maintenance costs associated with allowing pets.Landlords may need to increase their liability insurance coverage to protect against potential issues arising from having pets on the property, which could lead to higher insurance premiums.Key Provisions of AB 2216No Blanket Pet Bans: Landlords can’t have blanket bans on common household pets without valid reasons.No Extra Charges: Landlords can’t charge extra rent or security deposits for pets.Documentation Requirement: Landlords must provide written documentation if they restrict pets for health or safety reasons.Pet Liability Insurance: The bill might require tenants with pets to have pet liability insurance.As always, I’m here to discuss how this might impact us as property managers and landlords.
Brian Willie
Can You Sell On A Wrap With A Property You Own Subject To?
13 June 2024 | 20 replies
Be ready to pay off the loan, end buyer refi (the reason for a wrap is not always bad credit), sell property, deed back and do a lease purchase option for a while (depending on what state you are in), whatever needed.The banks are not gods - they are just entities that do not care much for their customers due to being too big.Stay safe out there kids
T. Alan Ceshker
Wraps and due on sale clause
15 June 2024 | 87 replies
You just didn't get caught.And god help you if you do it to a borrower in financial distress or if you do it in a state that prohibits equity skimming, requires licensure or registration, or other nefarious acts against homeowners.1st - it is not equity skimming.
Alessa LeSar
I'm ready to strategize!
16 June 2024 | 27 replies
The majority of the rest of the sales were Zillow Leads (Zillow 40% and then team 50/50), I pay into the firm until I cap (8k) I paid 20k for taxes (didn’t know I needed to become an S Corp, but I am now) and I made some home improvements to our home, as well as a god awful amount of gas 😂 I wasn’t saving with a goal in mind.
Alex Shaughnessy
Advice on property management
12 June 2024 | 7 replies
Some things have been acts of God (flood, fires).
Don Konipol
Tax liens and Mortgage liens
16 June 2024 | 40 replies
Quote from @Jay Hinrichs: Quote from @Ivan Terrero: @Chris SeveneyI find the note space easier to deal with than landlording. very true unless they dont pay and then you have to foreclose then they wont move then you u have to evict then you have to rehab or hope the home sells for enough as is to recoup.. there is risk to notes but its a very nice space if you are highly organized and know what your doing.So far, I have not had to foreclose on a property or homeowner in 10 years....thank God!
Cory J Thornton
Is the need for affordable housing creating new markets?
18 June 2024 | 83 replies
Seattle is home to many fast-growing AI startups like Lexion, WellSaid Labs, Xembly, Fixie, OctoML, and CLIPr.While the San Francisco Bay Area remains the undisputed leader, Seattle appears to have the most robust AI talent pipeline and industry presence among other major U.S. tech hubs based on the available data.
Ben T.
Preparing Rental Property for Sale
12 June 2024 | 13 replies
When no presence of the old people is sensed. it helps the potential buyers to imagine themselves living in the home.