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11 January 2025 | 7 replies
Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.
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24 January 2025 | 0 replies
A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.
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16 January 2025 | 8 replies
.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.
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14 January 2025 | 9 replies
My interpretation of the CA law is that unless the medical condition constitutes a disability there is no obligation on the part of the landlord to let them out of the lease.
13 January 2025 | 41 replies
Did the insurance get cancelled in this case.
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31 January 2025 | 27 replies
Nice try, but this time does not count.In order to meet 750 hours, your wife will need one of the below:- do something else real estate related, like wholesaling or realtor- actively work on expanding your rental portfolio - have an extensive DIY rehab, like a month-long full-time rehab (and then she might need another kind of rehab)- a calamity such as multiple properties damaged in a storm where she will have to deal with insurers and contractors- something else out of the ordinaryAgain - if all you have is 9 single-family properties with stable tenants and typical occasional maintenance - you don't have enough work to collect 750 hours.
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18 January 2025 | 8 replies
In my home market of Florida, our insurance rates have made it much harder to have positive cash flow on a CRE deal.
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20 January 2025 | 7 replies
But IRS allows an IRA to be invested in anything except life insurance and collectibles.
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19 January 2025 | 7 replies
Rock that for about 12 months and add some equity and then you could refi out to conventional so as you pay it down in the future the mortgage insurance will drop off.
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20 January 2025 | 7 replies
Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.