All Forum Posts by: Andrea M.

I think it can be done as long as you are in compliance with local code regarding room size and requirements.

When I have a vacant property, I typically post my ad a few times a day with a different "catchy" title. Sometimes ads can get buried with all the other ads, when other people are posting a few times a day. I also check my ad a few times a week, and renew the ad when I have that option.

Also, too much information can answer all the questions in which a prospective applicant may have, so I put the basic information regarding the property. I also use Trulia, a local section 8 website for marketing and if I feel it's not getting a lot of traffic, I have offered $100 off security deposit

Welcome, lots of great information on Bigger Pockets. Are you interested in buy and hold (rentals) or flipping?

Happy Birthday Bigger Pockets!

I would disconnect the services sooner than later.

If you want to submit an offer, do so however in the contract I would clearly state that once the offer is accepted, $____ Earnest Money Deposit will be submitted to your closing agent/real estate attorney with a contact information of your closing agent/real estate attorney within a specific time frame of acceptance of the signed contract. I would not just send a check, since you can't really protect yourself and prevent anyone from cashing the check and lose your money. Although your bank may protect you but to me it's not worth the hassle until you have a deal.

So a friend of mine who is currently divorced, called to ask my opinion of this situation. I know they may need to consult an attorney but I wanted some input on this situation from my favorite forum Bigger Pockets:

Both names are on these properties. Him and his wife divorced a few years back, she kept the house in CA which eventually went into foreclosure (she just stopped paying even though she could afford the payments), he kept the house in VA which was in the documented in the divorce decree. He has made all the payments (even fell behind on some payments but did catch up and now current). Due to the foreclosure the California property he hasn't been able to refinance since his credit was affected and from what he says his interest rate is about 4%.

She has now given him 60 days notice in writing via email to refinance to remove her name from the property in VA and threatening if he doesn't refinance, she will put a lien on his pay check and other properties (investment rental properties) that he has acquired since the divorce. He has consulted with a Real Estate Agent in the last 2 months and the property is clearly under water but has it rented on a 2 year lease.

Any suggestions or opinions on this situation?

Even though we are in the electronic age, I believe there is a small percentage of people that are not computer literate and considered "Old School" who still buy and read actual newspapers or will call on a sign. With my number on the sign, I have had neighbors call me if they see anything suspicious at the property.

Personally, I do both signage and internet marketing for my rental properties. To avoid spam email when I use craigslist, I put my cell number with hours in which they can call to inquire about the vacant property, which has worked really well in the past. Although a sign can attract unwanted attention (vandals/thieves) when the property as it's vacant, I think it's a 50/50 chance. I also ride by, stop in and check on the vacnt property at various times during the day.

The agent can say what he/she wants, if it's in the PM contract and is signed by you means that you accept the terms of the agreement. Since the rent goes to them first, they would be able to deduct the PM fees/cost before you even get the balance of the rent. That additional cost may be associated with administrative fees to renew the lease and processing for the tenant to extend.

If you are uncomfortable with that, have you considered a flat fee listing where they would list the property for you for a flat fee, and you can handle the rest of the transaction?

@Michael W. I have a pretty good rapport with my tenants, so I know who drinks and who doesn't.