Stephen Polizzi
Flip deal DOA due to AE Flood Zoning
So first, I'm new; keep that in mind.Started direct mail marketing 2 months ago and have sifted out a couple leads and saw a couple houses. As of yesterday, I was about to get my first contract signed. I have negoti...
Taylor Robertson
House caught fire day before closing. What to do?
I was set to close on my first home today. Last night, the tenants on the other side (duplex) caught the fireplace ablaze and caused substantial damage to their side of the house. The inspection report stated the fire...
Dane O Stewart
Paying back investors
So question is: When you are going into a deal, and have an investor helping you, when paying them back what they put in for you, what percent interest are you paying them back at? I know this must be a silly question...
Samuel S.
FHA loan for a 3 unit: Renters or homeowners insurance?
Hey BP Folks,So I am in the process of acquiring my first rental property, and was hoping to get some input on the below questions. I will be using an FHA loan to purchase a 3 unit property, where I will be living in...
Account Closed
What are realistic soft costs (in California) ?
Hi there,
Having trouble getting a grasp on what soft costs might really look like. This would hypothetically be a situation in which I'd pay all cash for a 150-300K house, then rehab and sell. Also excluding repair...
Kimberly T.
Sewer drain leak, water damage. What to do now about insurance claim?
Hi all, I just discovered this site when researching how to handle my current situation, looks like a great resource! I'll post in the new member forum, but in the mean time, I am looking for some advice about our...
Ron C.
Tenant Drove into Garage Door
Hello - I would like to get some feedback on how to properly handle this scenario. A tenant who is on a month-to-month lease recently drove his car into the garage door on my rental property, causing irreparable damag...
Julie Doke
Title Insurance requiring survey
Our company is a LLC the lender wants a commercial endorsement (Is there a way around this??) so the title company is requiring a survey (is this required by law? )We have waited two months for a closing (tomorrow) a...
Janet S.
$120 vacancy fee charged by property manager - anyone seen this?
I own rental properties in CA, TX and FL, and the property manager in TX (north Houston area) told me that they will now be charging a $120 vacancy fee to cover their work during a vacancy. They say it's customary. ...
Henri Meli
Can you talk me out of making another offer for this 24 units MF?
I found this 24 unit located in a small NC town, about an hour from Raleigh, NC.Built in 1979, 24 units, all 2BR, 1 bath,located near major highway, near mall and near county hospital. Each unit has one extra room, wh...