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20 November 2011 | 12 replies
Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.
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22 November 2011 | 14 replies
In one of the towns that I have a SFR in, they charge a $300 deposit for water/sewer/electric (guess they have been stiffed by tenents one too many times).
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21 November 2011 | 7 replies
The lender will be happy to make a loan and you can get paid.I have seen banks counter with a faster closing date, I have heard from REO agents that the bank wants to get deals closed by the end of the month to eliminate additional costs, etc.
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11 December 2011 | 7 replies
Does anyone have any ideas , I have approached hard money lenders and they charge a higher rate One actually wanted 9% but I would have to flip the house because he wanted the loan repaid in one year.
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23 November 2011 | 3 replies
That Realtor (listing agent) would get the seller's side of the commission, I would come in with my agent who would get his/her side (buyers side) - or I offer the list agent to double end and possibly kick back some to me, then I keep the spread between the locked up price and the price I charge my wholesale buyer.of course most listings these days that are anywhere near a deal are short sales or REO properties in which case they are not assignable which means I need to double close or use some other creative circumvention of that dilema such as using a trust or entity.
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25 November 2011 | 8 replies
Landlord charged with attempted murder after trying to remove tenants with forklift.Whoops . . .I can definitely see how crazy tenants might drive a landlord, but that isn't the way to do it folks.
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10 January 2012 | 3 replies
it's common to charge a storage fee, or transaction fee on top of whatever commission is earned.
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8 December 2011 | 5 replies
"who cares the landlord will pay for it" does not necessarily mean "I'm going to charge your rich landlord an arm and a leg for a small service".
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14 December 2011 | 40 replies
I can't believe brokers are charging for comps.
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9 December 2011 | 10 replies
(the lender will have to pay for it in advance).Sometimes there is language in the note and security instrument that allows a lender to not only collect on any and all advances (such as taxes, insurance and legal fees) but also charge interest.