All Forum Posts by: Account Closed

woohoo, great to get a pro investor in charlotte...we've been waiting for one of those!! seriously though, welcome to BP :)

i'd see if i could get a guy to dig out actual footings to carry the load...maybe 12-16 inch deep (depending on dirt). when i do this, i usually add an actual pier made of CMU instead of the steel supports...usually i'm doing this for resale and the little toothpick jacks scare buyers and inspectors so that's why i do it like that..i've used them for rentals and they do work however

section 8 has really gone down hill lately..they moved locations and ever since, everything has been a mess...wrong contracts have been sent to me, wrong amounts have been sent to me to sign for, etc. message me the address and I'll take a look and email you photos this week if you want...it's possible the tenant's voucher was up, but from my understanding, the greater possibility is you went into abatement and the PM never fixed what the inspectior requested, so they stopped checks. You should have a copy of the lease from the original PM so call the section 8 office in charlotte and ask to find out what happened is my advice. Also, some insurance policies will cover you when a tenant trashes the place. I don't know if it's worth filing a claim or not--that's for you to decide, but if you're short on cash, this may be an option for you...I"m very curious why the bathtub and shower need to be replaced, if this turnkey operation rehabbed the house?

as someone else mentioned, you can trim up a flat panel door with 2 panels, and it looks pretty good..dresses it up and is very cheap

geez bill..i hoped if i stayed away for a few months, you'd go find another website where you could hound people :) seriously though, i don't see the tax implications of an untapped line of credit..there simply is no interest to pay if you don't draw on the line...and i don't see how it's fraudelent or a sham either, if the money is truly available...now a 40k swap for a 40k swap between pals is one thing..but having a buddy set up a line of credit for you, and you setting one up for Tom, who had one set up for John, who sets one up for Ann, etc...

I was talking with a few people about this last night, and someone suggested a line of credit from a peer. No money really has to change hands then, since it's an unused line of credit, even though it still shows as a lien on the property. Discuss....

It sounds like the 2 car is the way to go for rents or value; however, I'll also say it sounds like your bids for work to the 1 car garage may be too high as well. Assuming this is a normal sized one car garage anyways..

I always tell my tenants I understand things happen, and to text me when they've dropped the rent plus late fee off. I follow up by telling them I'd like to help them get back on track bc the late fee is a waste of money for them, and it'd be great if they could save that money in the future. It's not a lie--I hate enforcing the late fee to good tenants and I'd like for them to be successful and get their finances back in order... BTW, are you sure you can charge that much late fee, plus a per diem late fee? I'd double check your state law

Robert Steele, it's a joke in charlotte..part of the statute requires a home address on record for the landlord..ya, like anyone is giving that out! one of the many questions i have (possible gray area/loophole) is how they view the difference between this and a owner financed sale where the seller still holds title such as a contract for deed or even a lease option. maybe i'll just give each tenant an option to purchase or something! tic

James Vermillion, they plan to punish with fines..the problem is the wording of the whole thing is very poor and leaves a lot of questions still...in fact, an attorney in the REIA reviewed it and supposedly (i was not present) said it was some of the worst legalese he had ever seen...for instance, the multiple crimes could be a result of bad tenants, or just the environment...a drive by may or may not be the landlords fault, but they'll still fine the landlord for that..same for a noise complaint, domestic distrubance, etc. again, the problem is they're punishing the wrong people...make the jail times lengthier for marijuana possession if that's the issue--don't fine the landlords bc their tenants are smoking weed..how does that teach the tenant to get in gear and become a better citizen? it's just another example in this country of how we're not holding the right people accountable