All Forum Posts by: Bubba McCants

Bubba McCants has started 28 posts and replied 90 times.

I had a question from a customer today and would love to know best practices on how to handle.

His Mother owns a home and has a Will naming her son as the beneficiary, is there anything else that should be done? Would it be best to get that property Deeded into the sons name prior to the passing as a Life Estate? His other questions was, does the property still have to go through Probate even though it was left to him in that Will? I think I know the answers to these but best to be thinking about this prior to a family member passing.

0 Votes

Quote from @Tim Miller:

I agree with @Ned J. one month in and already starting to complain! We wouldn't do the 50/50, I would simply tell them that they have to pay for the inspection and if it comes back with dangerous levels of bad mold. Then and only then will I pay for the testing and the cost to clean it up. Plus tell them that you will provide them with an inspector for them to call and make the arrangement as needed. Otherwise they can provide their 30 day notice and we'll all be happy.

Same, agree with both Tim and Ned, let them pay for it.

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Quote from @Jack Ni:

Quote from @Bubba McCants:

Quote from @Jack Ni:

Hi, got a new tenant move in 1 month ago. They said they have been sick since they moved in and want to do a mold inspection.

Last family live there for 5 years with kids and never had any problem like that.

I ask if he smell any mold or any visible mold, he said he smell some

I been inside the house for 1 week straight cleaning the house 2 months ago, and I don’t smell mold or see any sign of mold at all.

My proposal was if I call out a mold inspection guy to come out, and they find nothing, we would split the cost of inspection 50/50. If they found mold, I would pay 100% of the cost of the inspection and fix.

I live in Arkansas.

If you were in this situation how would you deal with this?

Last time a lady wanted me to do mold inspection on my rental too but found nothing. I’m out $500 for nothing. Moldy smell was coming from clogged bathroom sink (I figure that out myself)

Wow, I have had very similar experiences with tenants, and ultimately they were slow to pay and then would skip out on payment. All because of the mold problems and then they threated to sue! Anyway, I do agree with you to split the cost with the tenant if no mold and then cover 100% if a positive test comes back and of course to mediate it. Good luck with this one but I fear they will be a lasting problem.

Thanks! The $500 mold inspection tenant moved out one month later, I guess she wanted to move out but couldn’t find a way to break the lease

Probably and that figures, at least they are gone with no real problems. Good luck with your investments!

0 Votes

Quote from @Jack Ni:

Hi, got a new tenant move in 1 month ago. They said they have been sick since they moved in and want to do a mold inspection.

Last family live there for 5 years with kids and never had any problem like that.

I ask if he smell any mold or any visible mold, he said he smell some

I been inside the house for 1 week straight cleaning the house 2 months ago, and I don’t smell mold or see any sign of mold at all.

I live in Arkansas.

If you were in this situation how would you deal with this?

Last time a lady wanted me to do mold inspection on my rental too but found nothing. I’m out $500 for nothing. Moldy smell was coming from clogged bathroom sink (I figure that out myself)

2 Votes

Thanks for the response. I appreciate the help.

0 Votes

Panama City, Florida

What is your best practice for converting FSBO's into listings?

We have just started really working them and made a complete guide on how to sell your home for the homeowner to use. We will attempt to call and whether we talk or not will drop off the 14 page packet, that does advertise us as the Real Estate professional but also gives the seller advice on what to do to sell the home.

if you are not a Real Estate Agent would you as a Seller like this information? If you decided to use an Agent would this at all help persuade you to use us as your Real Estate Agent?

0 Votes

Thanks for the response. I appreciate the help.

0 Votes

Davenport, Iowa

Quote from @Todd Dexheimer:

The answer is now is a great time if...

1. The financing is solid with high DSCR and fixed

2. The location is good with growth metrics

3. The deal cash flows or has a clear defined path to achieve solid cash flow

4. The sponsor has an excellent track record

5. The business plan is clear and well thought out and fits your criteria

6. The underwriting is actually conservative. Rent growth at or below market historicals, sales price matching current comps/cap rate, etc

Thats a start. By your post it sounds like you should take a bit more time to be sure you fully understand what you're investing in.

Thanks for the response.

1 Vote

Question - are doc stamps due if a home owner quit claim deeds their primary residence to another person?

0 Votes

Panama City, Florida

Thanks for the Vote!

1 Vote

Fort Lauderdale, Florida

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All Forum Posts by: Bubba McCants

Bubba McCants has started 28 posts and replied 90 times.

Post: family selling property left in a Will

Post: Tenant want mold inspection because they feel sick?

Post: Tenant want mold inspection because they feel sick?

Post: Tenant want mold inspection because they feel sick?

Post: Doc Stamps due on Quit Claim Deed in Florida?

Post: Working For Sale By Owners

Post: Flat Fee MLS Companies. Are they all the same?

Post: 01/2024 - Thoughts on Syndications / Investment Clubs

Post: Doc Stamps due on Quit Claim Deed in Florida?

Post: Wholesaling as a licensed realtor in Florida - Contract Question