7 February 2024 | 18 replies
They do not have to go to court to obtain a judgement if they are filing a mechanics lien which is what it sounds like you are describing.
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24 January 2017 | 18 replies
We have been doing this for 35 years so what we're doing something a little bit unique selling the property fully rehabbed with new mechanicals, fully upgraded kitchen w/ granite tops and fully upgraded bathrooms w/ ceramic tiles and putting a quality tenant and the selling the house as an investment we manage the property for three years and we warranty the house for a year houses and guarantee 8% minimum for 3 yrs for around 95k u getting 1k in rent and taxes and insurance around $2500 so around 10% per year.
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20 January 2017 | 2 replies
They will still need to provide you with a purchase contract and you will need to put up some consideration but I expect the mechanics to work like normal.
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25 January 2017 | 9 replies
But will may require you to use draw requests through a title company to pay for the updates as it helps the bank protect from getting mechanics liens filed on the property.
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30 January 2017 | 13 replies
There should be a book and page associated with the lien if it's a mechanics lien or bank lien.
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17 February 2016 | 12 replies
If you don't know what deferred maintenance (or the less obvious mechanicals running on borrowed time) looks like, your expenses will eat you up.
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8 March 2016 | 5 replies
Example I just saw a property with mechanic garage listed as: Asking $185,000 for purchase. the rent for the house was $700/mo and the garage was rented $300/mo (thus .54% rent to purchase ratio).
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16 September 2015 | 3 replies
Your holding costs will eat away at your profit if the next contractor can't start for a couple of weeks.You could fire this guy and out of spite he places a mechanics lien on your property to screw with you and delays your ability to sell the property until you can clear it up.
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22 February 2016 | 15 replies
You will have to develop a mechanism internally for BS Detection.
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9 May 2016 | 4 replies
Mohammad,For a small retail storefront as you are describing, I would expect that the tenant would be responsible for all utilities, trash collection if it is not city pickup and maintenance of the any existing mechanicals (e.g.