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Results (10,000+)
Robin Jones How do you get out of a flip that’s not selling?
12 March 2020 | 16 replies
Cut the price and cut your losses before sinking into another loan to rent it for years and get no return.
Akil Nasser Hamilton - how long to find tenant?
11 March 2020 | 5 replies
I just think you might be overpriced and to cut further losses, come down with price or offer some incentives like first month free or such.
David Nacco Mobile Home Park Investors, Where do I Start?!
2 April 2020 | 7 replies
The “key” elements of the transaction are explored first and usually, the most intensively.The buyer should provide the seller a comprehensive disclosure statement and include a term in the purchase agreement that obligates the seller to return the document within 5 days of acceptance.Professionals are hired to complete Phase 1, 2 & 3 reports that identify potential or existing environmental contamination and all other elements of elements that are difficult for the buyer to effectively evaluate.Financial Checklist3 years profit & loss statementsRent roll with space number, name of resident, move-in date, renter or owner occupied, number of occupants, monthly rent, additional charges, current balance due and any relevant notes about the residentList of capital expenditures for the last 3 years3 years of tax returns12 months of bank statementsCurrent accounts receivable statementList of park owned home including copies of “rent to own” or sales contractsCopy of all current insurance policies, binders and premiumsSpreadsheet detailing who pays all utilities including water, sewer, gas, electric, trash, cable, etc…For all utilities and charge backs, formulas, calculations and meter readings for the past 12 months3 years of utility billsProperty tax bills for the last 2-3 yearsCurrent staffing list including position, wages, job descriptionsCopies of any contracts that will transfer to buyer including laundry, trash, phone, equipment, etc…Dates and amounts of the last 3 rent increasesSigned rules and leases for each residentNames and contact information of professional service providers including lawyers, accountants, engineers, insurance brokers, inspectors, appraisers, realtors/brokers, etc…Physical ChecklistSpreadsheet for utilities that details age, composition, capacity, physical locations, etc…Any drawings or maps of the park and infrastructure including lot sizesSewer plant or septic system repair and maintenance recordsWater well tests and compliance recordsDisclosure from seller of current or recent problems with infrastructure including buildings, water, sewer/septic, gas, electric, etc…Names and contact information of contractors including plumbers, tree surgeons, electricians, gas inspectors, septic companies, roto-rooter services, etc…Locale ChecklistProfile local housing market:“Stick-built” – current foreclosure rate, months of available inventory, median home price, average rent per month, vacancy rateApartments – average rent per month, vacancy rate, prevalence of move-in specials…MHPs Comps – average monthly charges (rent, utilities, etc…), vacancy rate, # of homes for sale, etc…Profile local economy including population, major employers, unemployment rate and trendsCopies of city, county and state permits, licenses or certificates of occupancyCheck zoning for recent or pending changes to target property and adjacent parcelsCheck for known environmental issues with target property, adjacent parcels or in the communityCheck for major development or construction projects in the communityReview existing surveys or environmental reportsConsider geographic factors including elevation, annual snow fall, rain fall, proximity to bodies of water, etc…Disclosure from seller of current or recent lawsuits, regulatory or compliance issues, fines, fees, etc…
Breelon Bryant Frustrated Newbie....The Brick Wall
4 May 2020 | 2 replies
I think from my experience it is a little farfetched to get into this game without minimally $30000 of capital in a mildly decent market even with the KNOWLEDGE AND HUSTLE even when my expenses are very low and my income is moderately high.
Eric Kump First time homebuyer
7 June 2020 | 14 replies
That minimizes stress.
Sofia Kolesnikova Question on Tax Implication in Property Transfer
15 March 2020 | 8 replies
So, you can Quit Claim your brother, even at a loss for him, to be off the one property.
Logan Heydt Living around a Boston, good areas to invest in?
12 November 2020 | 27 replies
When cities and towns can't make ends meet, they have two choices (like any business): increase revenue or reduce expenses.In most cases the ability to reduce expenses is minimal at this point, and the far easier choice is to simply increase taxes.
Negar P. Confusion in understanding the code in my city's ordinance
2 June 2020 | 10 replies
While many elements can contribute to the scale of a residential structure, designs should minimize the appearance of over or excessive building substantially in excess of existing structures in the neighborhood.
L R Wadsworth South Carolina Quit Claim Deed
2 June 2020 | 3 replies
I’m really at a loss of what to do?
Samantha P. Is it okay to ask my tenant to cut the grass?
7 June 2020 | 27 replies
I've found that MOST tenants will at least do minimal upkeep on the yard.