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Buyer EMD Made but Not Within Timeframe
I am selling a vacant lot using the standard Florida VAC-14 contract. The buyer made the escrow deposit but was made several days after the 3-day timeframe specified (6 business days/8 calendar days). As the seller, I...
Adam Guiffrida
Rental registration fees and rental license fees
Guys,Just a heads up, if your town or city is starting to get too aggressive with any of its fees for registering rental units or charging excessive rental license fees, let me know. I recently won a class action suit...
Jorge Abreu
Tips for Multifamily Property Owners
7 Tips For A Preventative Maintenance Approach For Your Rental Property
1.Develop your strategy and involve others in your action plan. Assign specific responsibilities, determine tasks, cover activities to complet...
Jacqui Dolan
Police report for insurance
My investment property was left trashed upon exit of the tenant at the end of March. I have a property manager. An insurance claim was filed and the field adjuster visited the property in late April. Nothing has progr...
John Woodrich
Does MN require a grace period before impsoing a late fee?
I inherited some leases and they all provide for payments being due on the 1st of the month and that a late fee will be assessed if they have not paid by the 5th. So inherently they all normally pay on the 5th....I n...
Corey Dutton
Why Have Hard Money Lenders Earned Such a Bad Reputation?
Hard money lenders have earned a bad reputation in the area of lending for no good reason. In fact, they are often grouped into the same category as pay day lenders. Pay day lenders hold a larger share of the consumer...
Juan David Maldonado
Who determines Section 8 rent amount?
Who determines the rent amount for my unit if I want to rent it out for section 8. The local housing authority or myself? I understand section 8 pays 50% to 80% percent of the rent, and the tenant pays the rest. If I ...
Tim Johnson
Minnesota Eviction Moratorium
If anyone else is frustrated with the current eviction moratorium in Minnesota, I would encourage you to write a letter (as I did) to Governor Tim Walz. It may not do any good, but the action was good therapy.
The ...
Justin Vedder
1031 Exchange on Property that was just done with a 1031 Exchange
Hey guys I need some quick advice and I am getting deflective answers from my CPA. Here goes:I sold my rental property earlier in the year and performed a 1031 exchange. I bought a new rental property months later, ho...
Scott Nguyen
Lease questions for renters
For investors that rent out their property, how long is your lease? Why so? What are some must-have clauses in your lease?Are leases optional? Or do you have it just so there are guidelines for the renter (also yourse...