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30 November 2024 | 12 replies
Quote from @Kar Sun: My tenant's lease is coming to a close and I am relieved she will be moving soon.She has been paying on time but has been extremely unpleasant and rude.While the money does not smell my mental sanity is more important than money in this case.She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".She requests to have her witness for a walkthrough.In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.If she feels unsafe she does not have t be present.I also do not treat a final walkthrough with a tenant as a final sign off.This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.This is simply for the visible cosmetic issues and should take less than 1 hr.
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28 November 2024 | 4 replies
Keep in mind, most offmarket/distressed deals are traded offmarket before they even hit the auction block.
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30 November 2024 | 5 replies
Have gloves and masks for the men , you dont know whats inside Send them a letter telling the residents that on DEC 12 they will be evicted and all their belongings will be put on the curb .
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1 December 2024 | 9 replies
You can get a block shot of the neighborhood as well which shows you what the other houses are worth.No, you aren't an appraiser.
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28 November 2024 | 10 replies
I invest in Detroit as well, and it's a city full of opportunities if you take the time to understand it.A couple of quick tips: Get familiar with the neighborhoods—Detroit is very block-by-block, and the difference in property conditions or tenant quality can be drastic just a few streets apart.
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26 November 2024 | 16 replies
It is a very block by block city depending on the neighborhood.
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7 December 2024 | 14 replies
I started keeping an event journal to remind me of issues or unique incidents that impact the income/occupancy of each property, including maintenance block-offs.
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14 December 2024 | 101 replies
I know nothing about an LLC in fact only recently learned what the letters stand for.
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26 November 2024 | 1 reply
Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100
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19 November 2024 | 0 replies
Tenant estoppel letters should be used in the sale or purchase of any tenant-occupied real estate, whether residential or commercial.