Melissa U.
Large oak tree under foundation - to buy or not to buy?
28 February 2024 | 31 replies
Agreed,Should have been removed during rehab process but sometimes it can be missed.Rehabbed hundreds and many times the crews miss stuff so not completely on the seller.I always tell our investors to have common sense when doing a building inspection.Anything that can affect the long term sustainability of the property like foundation, roof, mechanics, HWH, furnace, electrical, plumbing is on us.Any cosmetic stuff that won't really affect rent or cashflow is up to negotiation.If investor is adamant on being fixed, we will fix but at a cost.There is no such thing as perfection on 50-100 year old homes.The demographic in my area also doesn't require perfection.If they do, we don't rent to such folks and advise the suburbs which come at a 3x monthly rent compared to the city.The tree should be removed by the seller and foundation addressed.Doesn't look too major to me anyway.Thanks
Lee Lewis
Smoking in a Non Smoking Building
27 February 2024 | 6 replies
I'd follow JW's thought process and even consider posting a note on your neighboring doors...to let them know as a neighbor that it isn't appreciated that there is smoking inside, please kindly consider taking your smoking outside.I feel like the approach is everything here...Chicago is a weird place and hard to enforce a lot of things.
Betty Joseph
How to report late rents to the credit bureau (s)
25 February 2024 | 2 replies
@Betty Joseph in order to do this you would need to register with each credit agency by establishing a "Data Furnisher" or "Service Agreement" with each.
Josh Brost
General Curiosity - What is the Sentiment on your STR Property(s)?
26 February 2024 | 42 replies
I built out our own in house systems and processes, we've automated a ton of the work, have an electrician and handyman who specialize in plumbing for each market with a primary and 1-2 backup cleaners.
Nick DiFinzio
Buying Occupied Section 8 Property
26 February 2024 | 7 replies
Does anyone know the process of when you purchase a home with a section 8 tenant in place.
Kenneth Hynes
Old Wood floors - Replace - refinish ? Keep ?
28 February 2024 | 48 replies
Watching the process, ESPECIALLY the sanding was not something I felt comfortable with.
Tyler Speelman
Resident complains of “musty smell”
27 February 2024 | 2 replies
She cannot withhold rent without following a strict process.
Yoni Meth
Closing remotely from abroad with lender
26 February 2024 | 4 replies
I'm a US citizen but currently living in Israel, and I'm in the process of purchasing a property in Columbus Ohio.My plan is to do some rehab and therefore I want to take a hard money loan which will cover 80% of the purchase price and 100% of the renovation.While talking to the title company, they said there was no problem with me signing with a remote notary.But, the problem is with the lender who requires a wet signutre, and has given me the following options:1.
Cory St. Esprit
Tenant Wants to Break Lease Early
26 February 2024 | 13 replies
Assuming they're refusing to pay, pore over every detail of your lease and proceed with exactly the processes called out by it (and get advice from your lawyer concerning State laws/procedures to follow in case they may trump your lease terms).
Albert Johnson
Tenant broke hanging light pendant before move out
26 February 2024 | 9 replies
Point here being: 1) you want it done right; 2) you do not want to be responsible for someone elses accidents; 3) You want to streamline your process (everyone is happier this way); and 4) you want to run your buisness as a business.