All Forum Posts by: Artem Kovalevskiy

Thats what I was thinking about just creating a new lease! I will add the contingency about the departing tenant! Thank you. 

About my terms being weird, its just for the first year. I will do 1 or 2 year lease after this new 5 month lease. They want to stay long term, I just wanted to have a probationary period incase things didn't work out and they weren't paying rent on time; so i wouldn't renew their lease if that was the case. Its a family, and they will not be getting a new roommate to replace the one that left. 

Been a while since I've posted on here! Keeping busy with renovations on my second property! 

I finished my 1st house about 6 months ago, and it has been rented out since June. I decided to do a probationary lease (2 part) for 7 months, and if there were no issues in that period, specifically with late rent (which so far its been paid on time), I would extend the lease for 5 more month, and after that if my tenants choose to stay, we would then do the traditional 1 year lease. So this brings me to my question. One of the family members is having personal health issues due to age, and will not be "renewing" the lease for the 5 month period. What do I do with the current security deposit, I know that they will want their "contribution" back. Do I just keep the whole deposit, since its a lease extension, and let the other roommates reimburse the one that leaving? Thank you in advance for the advice and guidance! 

I am looking for GC, preferably certified. I need all of the electric & plumbing done. 

Hello everyone!

Just signed a sales agreement for my 1st rental property....super excited!!! Wanted to see if anyone had any referrals for great contractors to do plumbing, electrical and windows. 

The house is a pretty big one...2300 sq ft, and was vacant..so the midnight plumbers came in and did their thing. No electrical, and most of the windows need replaced; house is about 100 yrs old. Wanted to reach out and gather some referrals for all of the work that needs to be done. Thank you in advance!!!!! 

So I have a couple of partners, and we all put a nice amount of $ into escrow for our first property; we would like to use that for the renovations. We are looking for an REO property or a house thats in bad shape, and ofcorse, those are impossible to get a conventional mortgage for (or atleast thats what Ive been told by a few RE Agents/Mortgage Brokers. We would want to Buy/Fix/Flip in 5-6 months.... I would love to get some feedback on different options for $. Thank you guys in advance!!

Thanks Ron

Thank you for all of the feedback! This isn't an auction, so from what @Tom Mole mentioned, there might be some tax liens on it. Tom, I plan on rehabbing and holding for a year then flipping it. 

Thanks! I will definitely try to check those out! 

@RobCaldwell thank you for a quick response! Is there a way to find that out before even submitting an offer? 

I am just starting out, and have been reading alot for the last 6-7 months. I have read that REO properties come with clear titles, and Foreclosures could have liens. The house is labeled "Bank Owed", and doesn't specifically say Foreclosure or REO.

I guess my main question is How do i find out if there are any liens on the house. 

Thank you BP!!