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13 April 2020 | 5 replies
If these are in mint condition... the electrical will no longer meet code, and I recommend re-wiring.The plumbing is a toss up, sometimes we scope lines and they are clean as a whistle; sometimes we scope lines and a 4" pipe has an effective inner diameter of 1/4"... just depends.
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14 April 2020 | 6 replies
I just hope to be a voice of reason, or devil's advocate, whichever you like.
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17 April 2020 | 14 replies
Whenever the PM say that a repair needs to be made, there's always a voice in my head asking "what if they're lying?"
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27 April 2020 | 9 replies
Help for Airbnb and Vacation Rental OwnersWhile long-term effects on the short-term rental industry are debatable, here are some things you can do right now:Reduce your vacancy rates as much as possible by offering discounts and being more flexible during this timeCut your expenses by eliminating welcome gifts, reducing amenities and subscriptions or applying for mortgage deferral programs, as discussed aboveIf you’re an Airbnb host, apply for cancellation reimbursement under the $250 million Host Relief Fund available for qualifying cancellations (up to 25% reimbursement of what you would normally receive from a canceled booking)Consider turning your short-term rental property into a long-term rental, at least for now, as the traditional rental market is not expected to be impacted as severely as the short-term rental market Additional ReadingResources for Property Owners and Agents from the National Association of Realtors is a great list of general recommendations and resourcesList of Relief Programs Offered by US Banks, published by the American Bankers Association, is a comprehensive list of specific measures banks across the US are taking to help borrowers in needCOVID-19 Tax Resources Center by the Drucker Scaccetti tax services firmLegal Guide for Landlords by Julie Anderson, written for the Mid-America Association of Real Estate Investors, provides general legal guidance and advice for real estate investors Please let me know if I missed anything, or if there is any inaccurate information, so I can correct it.
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14 April 2020 | 5 replies
Which website or service do you find to be most effective?
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26 September 2020 | 9 replies
More than likely it will absolutely hurt you down the road - even though it won’t effect credit score it will still show up on your report.
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15 April 2020 | 15 replies
Books on biz and real estate that I have really like:The Book on Managing Rental Properties - BiggerPocketsABCs of Real Estate InvestingStart With Why - Simon SinekTax Free Wealth - Tom WheelrightThe E-Myth - Michael GerberCurrently reading: Extreme Ownership - Jocko WillinkOn Deck: Gary Keller's The One ThingThe 7 Habits of Highly Effective People - CoveyDon't recommend: The Oz Principle.
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17 April 2020 | 8 replies
This sounds like a waste of your time so use it as a learning experience and use the inspection to get out of the deal.California passed a sweeping (applies to SFR and multifamily parcels) accessory dwelling unit law that took effect on Jan 1 that generally allows for conversion of any accessory structure or garage into an ADU and removes local jurisdictions' power to limit said conversions.
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26 April 2020 | 10 replies
Each credit pull tends to adversely effect your credit score with reporting agencies.
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19 April 2020 | 9 replies
Essentially you are increasing your loan amount to include the mortgage payments, which in effects increases your down payment, your monthly payments, and your overall loan costs.