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26 June 2024 | 9 replies
Even if you take photos and use an app to view it with the new flooring (ie create an 'after' image online) that you can use, I'd still wait a bit.
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25 June 2024 | 3 replies
Right now, the purpose of my move is to take my real estate investing business from Los Angeles to Charleston, SC.
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25 June 2024 | 16 replies
You never let things like this take control, everything needs to be contractual with recourse if not followed.
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25 June 2024 | 20 replies
@Marc ShinMake sure to double whatever they tell you it will cost and take 2x as long and then have someone to come repair all the shoddy work that was done.Hopefully you have working bathrooms otherwise you may have some surprises hidden behind your walls
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25 June 2024 | 1 reply
Let's say my 1st mortgage balance is $600k and I want to take out a 2nd mortgage for $150k for home improvements which makes the interest on the 2nd deductible as well.
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25 June 2024 | 5 replies
This is the problem with taking payment for the last month when a lease can extend indefinitely.This arrangement is illegal in PA due to a court decision 10+ years ago.
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25 June 2024 | 1 reply
For landlords, lease options can attract tenants who are committed to the property and may take better care of it.Commercial Property Considerations: When considering a lease option for a commercial property in Texas, ensure that:The terms of both the lease and the option agreement are clearly defined and legally binding.Both parties understand their rights and obligations, including maintenance responsibilities, payment terms, and conditions for exercising the option.Consult with a real estate attorney to draft or review the lease option agreement to protect your interests.Here are some things that may help you form a pros and cons list going forward:Advantages:Potential for higher rental income due to the option premium paid by the tenant.Attracts long-term tenants who may eventually purchase the property.Allows flexibility for both parties in uncertain market conditions.Considerations:Ensure the option fee and terms are fair and reflect the property's market value.Understand the financial implications and tax considerations associated with lease options.Be clear about the tenant's ability to exercise the option, including financing requirements if they decide to purchase.Lease options can be a viable strategy for commercial properties in Texas, offering flexibility and potential benefits for both landlords and tenants.
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22 June 2024 | 21 replies
I learned the hard lesson about taxes (fed, stat, recapture) on the 1st one sold, will not make that mistake again.
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25 June 2024 | 37 replies
Thank you all for taking the time to share your experiences!
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25 June 2024 | 1 reply
If you have a contractor come out to take a look too soon, they may quote you things that don't necessarily need repair.