Dan Earl
How to handle security deposit logistics of inspection/notices
3 March 2018 | 8 replies
The Tenant has to sign it and accept the charges or they can refuse to sign and take you to court to contest the charges.Unfortunately, your friend did not create a list so you will have to refund the deposit and eat the loss.
Joshua Lindsey
Wholesaling a Pre-Foreclosure? (Am I Doing This Right?)
15 May 2020 | 32 replies
I've done it in the past... but I had the ability to close in case things go south.
Aaron Hartsough
Financial freedom vs. debt
2 March 2018 | 3 replies
@Aaron Hartsough It probably has to do with your comfort and ability to repay that debt.
Susan Clark
flopping on my flip want to go from 42K-130K
2 March 2018 | 3 replies
Ive said this house needs a second bath right from the start and have gotten nowhere(even the realtor said it needed one), the biggest problem I see in this scenario is that I really wanted and needed someone who has done many of these with the mindset of the investor/REIA to walk me through, not my dear hubby who although very talented in what he is capable of doing isn't very good at organization, timeliness, of follow through, therefore he has now quit on me and Im stuck trying to learn AND figure this out and not lose my shirt in the process.I had my realtor walk through the job with me and try and help refocus me but I really even need the financial piece played out at this point .
Dustin Jones
Newbie questions/advice on MIL suite tax advantages
2 March 2018 | 3 replies
If you charge below market rent to a family member - the property may not be viewed as a rental property in the eyes of the IRS and you may potentially lose your deduction.
Bin Liu
Basement rentals, original renters want to add additional adult
2 March 2018 | 0 replies
Currently renting my basement out to a single mother and her child since last March, original rent was $1575 (all utilities) and I saw her situation at the time and dropped it to $1500 for a 12 month lease with all utilities included, she purchased a electric charging vehicle less than two months after moving in so obviously taking full advantage of all utilities included.Two months ago, she had a boyfriend stay with her and told me that it was temporary while he is looking for a new place.
Bin Liu
Basement rentals, Original renters want to add another adult
2 March 2018 | 0 replies
Currently renting my basement out to a single mother and her child since last March, original rent was $1575 (all utilities) and I saw her situation at the time and dropped it to $1500 for a 12 month lease with all utilities included, she purchased a electric charging vehicle less than two months after moving in so obviously taking full advantage of all utilities included.Two months ago, she had a boyfriend stay with her and told me that it was temporary while he is looking for a new place.
Jay Helms
Acquiring mini-storage units. Help on analyzing this deal.
19 March 2018 | 6 replies
From a valuation standpoint, you can't really run any facility for under $5K per year management expense so once you add that cost into your equation you are looking at an NOI of $6K or so, With that the value would be around $60K...and while I get that you will be self managing, I doubt you would agree to do so for the next owner for free of charge.
Account Closed
Wire Fraud Warning On Real Estate Deals
3 March 2018 | 7 replies
I am thinking once it hits the bad guys account they have within 30 seconds moved it off shore.this all started when title companies would not take personal checks.. because lenders and such could not get there docs there until last second.. so no time to clear a check.So then the title co required cashiers checks.. well that went along for a while until the bad guys figured out how to forge cashiers checks.. it was really bad in Florida for instance.So then it went to wires were we are today.. and now with everyone relying on E mail. and the ability of hackers.. once the bad guys realized how much money flowed and how many to most of the folks doing this were newer it was like katy bar the door.our process since we wire every day.. is two fold request from closer and at this point we might be on deal 30 with the closer and have their coordinates.. any e mail that changes their wire.. the big one is Hey we just moved banks here is our new wire info.. that is HUGE red flag and we go into telephonic mode.. most of the closers I use I have used for many years so I know there voices..
Chris Seveney
Independent Mortgage Loan Originators
2 March 2018 | 1 reply
I read about investors getting their realtors license and hanging their proverbial hat under a brokerage that may charge a yearly fee etc.