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22 January 2020 | 1 reply
Now the inspection has come back.
22 January 2020 | 1 reply
Besides a general inspection, what would you recommend we have inspected?
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28 January 2020 | 22 replies
You're right, between getting pre-approved to starting the search, viewing many properties, making offers, getting offers rejected, finally getting one accepted, then having it fall through (after the inspection, for example), then going back to looking at properties, finally getting an offer to stick and taking it to closing (which could take 45 days or longer), then doing the rehab -- it could take a while!
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23 January 2020 | 6 replies
Ive never seen an inspection report without this.
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22 January 2020 | 2 replies
I have a property I am trying to sell and the buyers want to close 6 months from now when they are good and ready to move in and would like to keep their inspection contingency until then in case there is any spring water damage or something else happens between now and then.
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24 January 2020 | 4 replies
Central heat/cool, and currently gets $850 per month base rent, NNN lease where tenant pays (reimbursement) for property taxes and insurance.Lease Term: 10/1/17 – 9/30/2020Base Rent: $850/monthNNN Tenant Reimbursement to Landlord: $170/monthLandlord Annual Expenses: $1,020 water/sewer/garbage, $1036 property taxes, $506annual property insurance.Gross Annual Income: $12,240Annual Expenses: $2,562Net Annual Income: $9,678Zoning CMS Building Class B (Residential 3/1 Home)-Lease Term: Month to MonthRent: $1,100/monthGross Annual: $13,200Net Annual Income: $13,200 Combined GROSS ANNUAL INCOME: $25,440 Combined ANNUAL EXPENSES: $2,562 Combined NET ANNUAL INCOME: $22,878I have not looked at the property, based on pictures looks in good condition & would probably need an inspection report to see if there is anything major that needs to be done but after running the numbers factoring in all costs ( *considering this would be a cash purchase) the ROI would be around 9%.
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23 January 2020 | 1 reply
You'll likely be responsible for "normal" home inspection repairs rather than an entire tenant turnover.
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23 January 2020 | 3 replies
This makes a big difference as different inspections are mandatory or for informational purposes.
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23 January 2020 | 2 replies
Ask the standard questions: age of the home, size of the home and lot, number of beds, baths, is there a garage (attached or detached), any recent renos (were they inspected or permitted), how much of the space is finished, etc.
23 January 2020 | 3 replies
If the buyers are under the contingency time frame such as attorney approval, inspection, mortgage approval, etc that is there out.