Himanshu Goenka
Purchase contract vs appraisal shortfall language
Hello, I’m a buyer currently under contract for a condo in Phoenix. Due to the current market conditions, the purchase price of the condo shot up by $35k and I had a appraisal shortfall of $15k. However, I never belie...
Jeffrey Duck
Who am I required to return the security deposit to?
Lease 1 included tenant Person A who paid the deposit and moved in.After 3 years, tenant Person B was found to be in possession of the unit.Lease 2 was written to include tenant Person A (who moved out) and tenant Per...
Lenny Eterno
We Have Termites but No One Wants to Treat!
I have a property in an HOA. My property is the middle unit in a 5 unit townhouse building. All five units have termites but only myself & one other owner wants to treat. I've been told by all termite vendors tha...
Brian Smith
Attorney Drafted Lease or EzLandlord Forms?
Hello Everyone,I hope all is well! I just closed on my first 3 unit. The building came with 1 tenant who, so far, seems to be very courteous, clean, and pays on time. What more could you ask for right? With that bein...
Brett Aguiar
First time land lord advice.
Hello B.P. community!I am approaching my closing date within the month. Just to give you some background, I am moving into my first investment property in Cumberland, Rhode Island from Massachusetts. I will be living ...
Nate Flickinger
We have an Investor! But, they want to own the property...
Hello Community,We have an investor! Our investor is willing to loan 100% of the price, but wants the property in their name until 20% it is paid off. With an 8.5% over 30 years note. I am concerned with how long it...
Loc R.
Need some thoughts on being diplomatic
I'm in final negotiations on a 4-plex that needs to be completely renovated.
3 units are vacant; the 4th one has a bedridden (as in 600 lbs) tenant.
There is no relationship between the seller and the tenant, but he...
Raj Vajir
Apartment Complex offer Strategy
Hello BP friends,I need some help on how to proceed in making an offer for an apartment complex.I spoke to the lady (53) looking to sorta retire. I approached her about selling and she said she is in the process of u...
Tyler Ansell
Analyzing a 4plex-needs repair
I'm having a difficult time doing an analysis on this property I'm looking at purchasing. It's 2 duplexes on a single lot, 4 units total. All 4 are rented currently at surprisingly high rates considering the condition...
Account Closed
Hold, sell or remodel
I made a rush decision buying a property. Some red flags I ignored:
1. The property was supposedly in the market for two years and wasn't sold.2. It's not a duplex or triplex but too many rooms for a single-family. 3...