Dariusz Chlopecki
Starting a new one-stop, in-between tenants reno. company
31 August 2015 | 0 replies
.- Closets: sweep, mop or vacuum- Floors: sweep, mop or vacuum PaintingUse drop cloths to protect furniture, floors from paint -Protect and mask necessary finished surfaces including door knobs, hinges, bathtubs, showers, cabinets, electrical outlets, fixtures and windows-Caulk all joints at doors casings and jambs in order to maintain a sealed surface-Caulk all joints around the windows where the window meets the drywall Patch and/or repair of minor wall and ceiling blemishes prior to the application of paint-Apply primer coat-Apply 1st and 2nd coats (Two-tone paint available)-Remove all masking from doors, windows, baseboards , walls, hinges, floors, etc.
Rowan Woodburn
No money no credit (bad credit)
21 October 2018 | 8 replies
hi rowan. well, lets see. you need to take a first step. all previous answers are good answers. lets first look at why your credit is where it is. fixing a problem means first understanding the problem and how you got there. the first thing you are going to want to do is go on annualcreditreport.com. you can look at all 3 of your credit reports here, on line, in full. you need to see what is in there. even if there is a legit reason for the bad credit, you still could have things on there that are not yours. dispute anything negative. it seems unethical, but dispute ALL things negative. the reason being, the credit reporting agency is required by law to check up on anything you dispute. if the creditor that they contact does not answer back in 30 days, the credit reporting agency is required to remove the negative report from your report. thats right, even if it is correct, if the creditor is legit and the debt is legit, if they do not answer back in 30 days, it gets taken off your report. second, go to a local bank. take $1000 if you can. deposit the $1000 in a savings account. a month later, go take out a personal loan from that bank for $1000, using the savings account as collateral. rust me, they will give it to you because it is secured. take the borrowed $1000 to another bank and deposit it into a savings account. repeat the process several times. then when you get to the last bank and borrow the $1000, use that to pay off the first one and repeat that process. make sure you make all the payments along the way. what you are doing here is establishing credit with several banks. after a while, you will have several banks that will be willing to loan you money without collateral. then, check with your local cities on tax foreclosed houses. these are houses that the city and/or county have repossessed from owners because they did not pay their taxes. they sell them at auction and usually pretty damn cheap. i have bought one for $500 once, fixed it and sold it. its a good cheap way to start
Dyanne C.
Duplex - 40k - Underestimating repairs?
13 January 2016 | 12 replies
Duplex - C Neighborhood 40k - Purchase Price - 25% Down ~10k4k - Closing6k - Roof Repair1.7k - Misc Upfront repairsMonthly Expenses/IncomeUnit #1 - $450 - Currently rentedUnit #2 - $450 - Vacant157.40 - Mortgage129.17 - Taxes90 - PM60.42 - Insurance, although this might change66.67 - Water90 - 10% - Maintenance and Capex90 - 10% Vacancy45 - Lawn Care/Snow Removal Net Income - 171.35The initial inspection showed a few issues, biggest ticket item being the roof which I was already aware of so I decided to proceed.
KJ Smith
How to establish ARV on multifamilies
5 January 2016 | 10 replies
You most certainly can sell the building before it is stabilized, but buyers will discount the validity of the buildings performance.So, to figure out the {potential} value of the building you need to:1) Determine your revenue:determine what is the market rent for each unit type in the building and calculate your scheduled rent;determine the market vacancy for the area (for each unit type) and calculate your anticipated physical vacancy;Subtract the second from the first above and you have your {projected} effective gross revenue;2) Determine your total operating expenses:These include: property tax, insurance, yard maintenance / snow removal, electricity (house metre), oil/gas (if common heat); water/sewer, garbage collection; janitorial service; maintenance (10% of effective gross revenue); Property Management (7-10% of effective gross revenue); advertising, accounting & administration, etc.3) Calculate your Net Operating Income (NOI): Effective Gross Revenue - Total Operating Expenses4) Now you need to determine/learn the price being paid for similar (i.e. same class of building) cash flows in the local area.
Roy Mitle
using airbnb on rental property
5 January 2016 | 7 replies
You don't want to be in the middle of a dispute where damages or loss occurred to tenant property and you have to be a twice removed middle man (dealing with Airbnb to settle the dispute and the tenant as well as the guest=no fun).It may be worth your while next time a unit turns over to try renting it as a STR (short term rental) for a bit and see how you like it.Best of luck!
Cal C.
Still getting postcards for a house I sold in 2014. Julie Hicks
4 January 2016 | 1 reply
For the marketer, it is a complete numbers game, so they dont care that the information is outdated on a percentage of the mailing list.A funny thing that happens to me with my EDDM, every door direct mail, I get calls from people asking me to remove them from my mailing list.
Jeff S.
Seller is Veterans Affairs : Will they negotiate
11 January 2016 | 6 replies
It's not that they play by different rules it's just that they are selling the house at below market value, which removes most of your leverage.
Brian Barnes
DoHardMoney/HML
27 April 2018 | 54 replies
Why are there so many "This post has been removed" on this thread???
Clayton Sneider
2 tenants leaving 1 staying, what to do
12 January 2016 | 4 replies
When the guy finds a new roommate I will remove the women from the lease.