Omari Morgan
What condition does a property need to be on to pull cash out.
I've bought a hand full of properties outright and owned them for a few years. I'm looking to pull cash out and leverage these properties. Hopefully someone can understand this question. The are in decent conditio...
Jeff Mills
What numbers/conditions would it take for you to buy in a ghetto?
I'm looking at a small apartment complex where based on my numbers the cap rate could be around 25% and the COC over 70%. Rents are around $450. It's also mostly renovated, just needs 10k - 12k left according to the s...
Kim J.
What "Rating Words" Do You Use on Move-In/Move-Out Condition Rpt?
Hi Everyone!
I'm curious what words or rating/grading system do you use to grade the condition of things on your Move-In/Move-Out Condition Reports. And how do you define the grades that you use?
For example, do yo...
Galit Garsiel
Is it worth it to buy a house in bad condition and renovate?
When buying a house in a horrible condition that needs plenty of fixing, will the cost of the renovation be as high as the cost of buying a better house that doesn't need fixing?Say I want to buy a house to rent it ou...
Giganni Lopez
Do properties need to be in "good" condition in order to be financed?
I'm a Miami realtor looking to purchase out of state. First time home buyer wanting to use FHA 3.5% or conventional 3%. I'm finding a lot of properties in Ohio & Illinois for less than 100K. They need a lot of wor...
Banu Sho
Making a New lease with additional conditions on a month to month tenancy
My tenant is on a month-to-month lease for a long time in a rent-controlled property in LA County. The last lease was signed a few years ago. 1) If I want to make a new lease adding some new terms to the lease, do I n...
Jeff D.
When to walk away from a deal (poor current condition of property exteriors)
Looking at a package deal of 5 properties (4 duplexes and a triplex) this week in Ohio. Had a family member do a drive by this morning and says exterior of the properties look rough and not well kept. Question I have ...
Mike Schorah
Do you find sellers lie over phone when talking about condition of property?
Seems like some people don’t understand exactly what “updated” means. It doesn’t mean a clean house, it means a modern house. Clean 1970s wood paneling does not mean “updated”.
Seems like a lot of people are very pro...
Taylor Robertson
Should I wait to start paying closing fees until after verifying property condition?
I am under contract for a duplex. I viewed the vacant unit last week, which was in excellent condition. The other unit is currently occupied, and I plan on viewing it this weekend because the seller’s agent wouldn’t a...
Jim Doyle
30 year fixed or 5/6 ARM in current market May 2024 market conditions???
Looking to purchase my first home and was initially going to go the traditional fixed rate mortgage without buying down points with the assumption rates will go down in the next year or 2 and I will just refinance. I ...