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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.
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23 January 2020 | 4 replies
I'd inspect every unit (yes he or she will roll their eyes).
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23 January 2020 | 0 replies
We held a 1 hour inspection the day after I sent the notice out and had about 17+ people show up.
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23 January 2020 | 0 replies
This was a small option fee that is required by Texas law to have an option period (or inspection period) in our contract.
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23 January 2020 | 0 replies
Stick to your guns on the close out inspections, and make the seller do what they are responsible for.