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22 October 2024 | 14 replies
She can't afford rent, so you get her moved out by the end of the month, then apply her deposit to the unpaid rent, cleaning, and repairs.I may even incentivize her to leave quickly by offering to forgive the unpaid portion of rent if she gets out by the end of the month, but it really depends on a number of factors and I'm not going to ask for details.For future reference, best practice is to have set standards and adhere to them every time.
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25 October 2024 | 14 replies
We paid the contractors $12K - $15K as a deposit to start the job.
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22 October 2024 | 23 replies
Yep, raise some money for them, find them a deal, lend them money to fund a deposit or conduct their diligence…you contributed to the deal and in return they will give you a CO-GP title.
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20 October 2024 | 3 replies
So my earnest money deposit of $4500 has gone hard.
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20 October 2024 | 6 replies
He got creative and started using builder deposit agreements.
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25 October 2024 | 66 replies
Ya'll if you are trying to do a deal where you need a lender for an earnest money deposit, you're a tool who's got no business putting somebody's property under contract.
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21 October 2024 | 24 replies
If they have stopped paying rent for a BS reason, you ask the court for the tenant to deposit the rent with the court while awaiting trial.
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18 October 2024 | 8 replies
You absolutely need to get copies of all the leases, AND, before closing I definitely suggest you get estoppel agreements signed by the tenants verify their current rent, security deposits, and any other important terms.
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20 October 2024 | 6 replies
I recognize this is an older forum that’s been revived but Wholesale JV’s…when I learned there were investors being taught how to lend wholesaler deposits I thought I had seen it all but apparently not….
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18 October 2024 | 7 replies
You seem very green, I would highly suggest finding a property management company to do this for your while you learn the ropes and how things work.However, you can also get a copy of "The Book on Managing Rental Properties" by Brandon Turner, and get some really good information.The main one's to consider are:Background check - totally clear, or will you allow certain thingsEviction history - totally clear, or will you allow if no evictions for last xx yearsIncome Requirement - usually 3x the cost of rentCredit History - totally clear, or will you allow certain thingsPets - yes or no, size, type, number of pets allowed, extra pet deposit/feeAgain, I highly suggest a property manager to assist you with this.