Irwin Dominguez
Should I sell this unit at a loss or keep it? My gut tells me to sell but...
22 August 2024 | 6 replies
In addition, we're forced to pay ~1k/ month to help pay for the CAM upgrade fees.
Don Konipol
The 5 Levels of Financial Fraud
20 August 2024 | 2 replies
In my experience these are the levels of how financial fraud is doneLevel 1 - The “sponsor” is a fraudster from the beginning and the entire investment is a designed fraud designed to steal the investor's money Level 2 - The sponsor initially intends to operate legally and honestly but the temptation of easy access to money, usually fueled by addictions to drugs, sex, partying, etc. leads to the bad decision to line the sponsors own pocketsLevel 3 - The sponsor intends to operate legally but a crisis in their life resulting in a need for money leads the sponsor to “borrow” from investor’s funds with the full intention of paying it back ( which they are unable to do).Level 4 - The sponsor intends to operate legally but the assets under their management incur substantial loses; the sponsor attempts to cover up these loses by “temporarily” borrowing from one investor to pay another or submitting false results.
Courtney Nguyen
Cost of doing annual roof inspection/maintenance on commercial building (retails)?
20 August 2024 | 19 replies
This cost should be a part of your CAM.
Jan Neruh Kelsey
Recommendations on organizational tools/spreadsheets for rehabs/flips
16 August 2024 | 10 replies
Quote from @Cam Schwartz: Hi Jan.
Rick M.
GA Landlord Advice about Evictions
16 August 2024 | 2 replies
They will sneak in a couple dogs, a second family, or their sex predator boyfriend.
Jay Levy
Applicant Screening Process
14 August 2024 | 9 replies
So, we obtaina full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc.to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyPublic RecordsWe also obtain data from national databases about evictions, convictions and sex-offender histories.
Nicholas Mann
Commercial Lease advice (When to use Triple Net?)
10 August 2024 | 8 replies
In theory you could also recover 1/6th of the CAM costs, too, but in my very limited experience with mixed use, the first floor commercial could very well push back on that, since they very well may not be utilizing almost any of the common area, depending on building layout.CAM would come from any number of places, commonly:Cleaning and utilities for any common lobby.Window cleaning for the buildingParking lot maintenanceLandscapingCommon HVAC maintenance, i.e. if a single furnace heats multiple spacesUltimately, you will want to be talking with either a commercial leasing agent or an attorney that specializes on commercial leases.One thing to note, while NNN leases are generally great, there is certainly work for you on a semi consistent basis, in creating the monthly escrow amounts and annual reconciliation.
Vivek Kumar
Mixed feeling on the application. Help me decide
9 August 2024 | 5 replies
Violent criminals and sex offenders are high risk.
Kristine Lambert
Would appreciate advice on tenant screening and a big inconsistency...
5 August 2024 | 10 replies
There's a reasonable chance he's a felon or sex offender or something similar which ends up disqualifying her from housing, or perhaps she is on Section 8 or similar and they are trying to hide his income.
Kevin Farrell
Cost to put separate meters in older multi family
3 August 2024 | 29 replies
Kevin, it will cost you a lot less to talk with your atty. and set up a prorated lease where a portion if no all of your utilities can get billed back to your tenants similar to many commercial leases that do CAM charges.