Rishi Ramlogan
Logistics and Best Practices for the Actual Rental Process
9 June 2015 | 4 replies
If that doesn't work -- perhaps for someone from out of town who is in the area for just a few days -- I schedule a showing on a weekday.I don't expect people to fill out an application on the spot.
Wade Reeves
In a bad spot..
9 June 2015 | 13 replies
Hey guys!about every 2 years I look to sell my house and upgrade (if the market is in my favor) well.. I was in contract to sell my house in February of 2015 and to make a LONG story short. We found out the Day of clo...
Spencer Keables
Buying a Mobile home instead of paying rent.
10 June 2015 | 5 replies
. $15k is your sweet spot.
Jonathan B.
Northern New Jersey Multi-Family House Hack
17 September 2020 | 13 replies
(Look to US Masters Residential Fund out of Australia and Dixon Leasing if you want to do some research).I'll second that Greenville is not the best spot to get started.
Doel Gonzalez
Help analyzing a deal in Winston-Salem, NC
10 June 2015 | 3 replies
W-S has some interesting spots.
Dana R.
Temporary Phone for Landlording
14 June 2015 | 12 replies
As others have noted, many companies have cheap pay-as-you-go plans that have no continuing cost if you allow your minutes to expire.If you want some phone service while not at home, get a cheap phone and then get a Google Voice number or a free number from RingTo, which will let you make and receive calls free from any wifi hot spot, such as McDonald's or Starbucks.For an extremely cheap home phone, assuming that you have Internet service, get a box from Obihai for about $50 and pay $12 a year for 911 service.
Shane H.
Office Building broken into Office Condos - buyer beware or potential good deal?
11 June 2015 | 8 replies
Owner took out a mortgage in 2013 for $68k for the purchase of bothCondo association filed delinquent assessments on 3-24-15 this year for Floors:1, 5, 4 & 11 -- not sure why they did not file on some of the others - per my understanding the original developers are not paying either, however thats probably a moot point since it would be like attempting to get blood out of a turnip.Taxes per floor range in cost from $2700-$5100 -- the ones with lower assessments went and argued with the appraisers office once they bought out of foreclosureSpecials payable until 2023 of $4421 per floor (once this is done - helps a bit with cash flow -- specials were used to change some windows, make street level improvements and upgrade the heating/air)Last Income statement I could get my hands on was from 2012 -- Expenses per floor at that time (doubt it's changed much except the owners association dues are likely higher to make up for the shortfall of the other deadbeats)Monthly expenses of $2500-3100I believe the mgmt company is ripping the condo owners off - charging $3575 per mo for the building for building maintenance, $3046.23 per mo for janitorial, $3300 per mo mgmt fee -- these are some big ticket items I could see cutting back on.So rough financials per floor per mo****************************************$3383 per mo rent (5800 * 7psf/12) (676) 20% vacancy allowance (643) general/special taxes (2600) rough avg expenses per mgmt company - think quite a bit can be cut here---------------------------------------------------------------------------------(536) rough loss per mo on a worst case scenario$4350 per mo rent (5800 * 9psf /12) (652) 15% vacancy allowance (643) general/special taxes (2600) rough expenses per mgmt company - think quite a bit can be cut here---------------------------------------------------------------------------------455 cash flow per mo on a better case scenarioWhen you put pencil to paper this is not a good deal as it sits presently, however per my understanding - if every floor owner (or if the expenses for the building) were truly spread out over the 11 floors and all 11 floor owners (or one joint owner) was paying their share the monthly expenses could be cut quite a bit.
Mark Wood
How do I track down if covered parking should be part of condo purchase
12 June 2015 | 2 replies
Contact the seller again, and ask if he has paperwork for the parking spot.
Stephanie Cederdahl
Forever Tenants and House Hacking
11 June 2015 | 10 replies
@Shawn Thom's advice is spot-on.
Joshua Jarvis
Help! neighbors are parking on the street, covering sweet rehab
11 June 2015 | 8 replies
Many municipalities have ordinances which limit the number of hours a car can park in the same spot.