30 July 2016 | 10 replies
Anybody out there in Tennessee (hopefully in Knoxville) willing to share what title company they use to conduct a double close?
10 August 2024 | 12 replies
Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.
20 April 2019 | 9 replies
I used these as an aid as I interviewed different firms.In addition to the interviews I conducted, I also chatted with some other investors around Grand Rapids to get a feel for the reputation of the different companies.
25 August 2024 | 8 replies
But if it’s a fixture filing recorded among the land records, then that junior lien may be extinguished in a properly-conducted foreclosure.
21 July 2024 | 12 replies
Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.
18 September 2024 | 47 replies
I'm sure this is taking quite the emotional toll on you, in addition to taking away precious time from your day where you aren't able to source additional deals.I would also go after the lawyer and report this conduct to the board of ethics.
11 September 2024 | 2 replies
Associations must now conduct a Structural Integrity Reserve Study (SIRS) to ensure they have adequate funds for necessary repairs and maintenance.
16 August 2006 | 2 replies
Corporate offices are in Florida, but Higgenbotham Auctioneers regularly conducts auctions in other states.
15 November 2014 | 7 replies
So my hard lesson learned is know how to conduct business and then keep business business .
25 March 2019 | 4 replies
Since you are planning to turn your property into a rental, it would be wise to conduct property inspection to identify prerequisite maintenance like pipe bursts, roof damage, gutters and downspouts cleanup, electrical fixtures, lawn maintenance, etc.