All Forum Posts by: Audrey Ezeh

If this is your first rehab, I'd probably pass...

Hi Bruce, go to the local HUD housing office and they will give you a change of agent/owner form as well as a direct deposit form and W-9 (you will be issued a 1099 at the end of the year).

3units is residential so you should be able to get comps for that. If you use the income approach you might pay more or less than it is worth. If 1% is a great deal in your area then you can pay $345k for it. You run a CMA and similar triplexes in that area sold for $280k...you can see how that is a problem. Get the comps then use the income to see if it makes sense.

High seer dot com! I can get 18kbtu for the price of 12k I'm seeing everywhere else! You are the man!

Thanks much! I appreciate it!

Thanks for the laughs!! Quick question on the mini splits, are these open floor plan units? How Do you account for closed doors etc or are you installing a unit per room?

I have a 500sqft studio apartment that I'm actually about to put a mini split in. Do you have a recommendation for brand? There are lots online for about $800 for 12000btu...I'm wondering if that's sufficient. Thanks!

 I Ian, it is the biggerpockets podcast hosted by the CEO Joshua Dorkin with his cohost Brandon Turner. All of them are here : https://www.biggerpockets.com/podcast but I recommend finding them on itunes or google play podcast apps . Load a bunch on your mp3 (or phone) and hook up to your car aux input! Start from number 1...it is worth it :) 

Awesome dude! I'm on 205 and counting. I'm averaging 7 episodes a week...life changing stuff!

I use cozy as well. I logged on today, rent is paid, rent is on time. Tenant is not responsible for the freakishly slow transfer from cozy to my bank. One tenant is on auto-pay which gets deducted on the 1st. You can pay the extra $3 to get it faster from cozy but I don't need it so I am happy to get it on the 6th or 8th or whenever they do the transfer. I am transitioning to VerticalRent for other reasons so things should move a bit quicker. 

2 things that might ease your mind on the 'no guarantee I will get it...'

1: One tenant tried to use a prepaid debit to pay rent...cozy rejected it right away. She pays another way now.

2: One tenant had moved out but forgot to cancel his cozy autopay and they deducted the full rent from his account but he had less than that amount in his bank account. I tried to stop the payment but could not. I ended up with the full amount and cut him back a check for it. 

My point is, more than likely if cozy collects the $$, it will get to you. 

What does he mean when he says "giving my house back?" Is he being foreclosed on? Or just walking away from his mortgage i.e his responsibility? He already has a bankruptcy in 2011 which does not bode well. Why is his mortgage not affordable anymore? Did one of them lose a job, take a pay cut or was it simply irresponsible borrowing? 

These are things I may want to know in order to make a judgment call. You may choose to ask him further questions for clarification but he does not seem like someone who has a good grip on his personal finances.So unless he is your only option, I would probably keep screening/qualifying other applicants.