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16 April 2018 | 9 replies
I know of a couple banks that do what is called asset depletion.
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2 January 2023 | 11 replies
You should also require this information is updated annually.You can still place reasonable restrictions on the animal, such as: Requiring a current (and annually updated) Veterinarian report on the health of the animal, including vaccine status; current appropriate local licensing of the animal if required in your jurisdiction; require the animal be spayed or neutered unless contraindicated by the Veterinarian; require the animal to be in a carrier or on a leash when in common areas of Multi-Family properties, particularly elevators or hallways and stairwells; require tenants to clean up after the animal in common areas and/or within their unit, and prevent offensive odors from emanating from their unit; aggressive or nuisance animals (includes frequent barking that is NOT an alert by the animal) can be cause for removal of the animal and/or eviction of the tenants.
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5 January 2018 | 24 replies
Take garbage bags and lots of old towels because oil tanks are never " empty" In this situation, I'd probably opt to hold-back funds in escrow to pay for a "professional" to remove the tank, perform any cleanup and "certify" all is good (making the lender happy).
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14 January 2018 | 34 replies
I agree with Jimmy Klein. as a landlord I haven't had this issue. but as a commercial hvac contractor I have had issues with pipes bursting etc. you don't offer the tenant anything. immediately file a claim with your insurance company. hire a remediation crew to clean. up any if the water/ damage that occurred.
21 February 2018 | 12 replies
Based on the extra explanation, an asset depletion loan may work.
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17 August 2014 | 28 replies
Possibly you could use that as leverage to make the seller remove the tank and handle the clean up.
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1 October 2014 | 56 replies
When I turn over the unit, I will just clean up the yard prior to showing.
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22 September 2015 | 9 replies
I also can't charge the tenant that started the problem because their on welfare with no money and I have depleted her security deposit of 750$ from other damages.
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8 March 2016 | 13 replies
I have actually closed on a few of my deals and done some clean-up before putting it out to other cash buyers.
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2 April 2022 | 19 replies
Once bought then how to clean up such a park and convert POH to TOW (tenant owned) is the business model.The hard part (ignoring the huge problem of cleaning up such a park) is getting the seller to accept an offer calculated as:Number of paying pads x 12 x $equiv lot rent from surrounding parks x 0.5 (50% expense ratio) / 0.1 (or higher) for 10% cap rateAdd in nominal value of the homes, $3k for old homes on up a bit.