All Forum Posts by: Christina M.

@Trent Reeve

Contact Schlage directly the Customer Service is exceptional. You need lock information serial number etc., all can be handled on-line. They have always been quick to respond.

@Erin Wilks The first 10 years of payments on a 30 year mortgage is primarily interest. Look at an amortization table. If possible add a little extra $ to the principle each month to reduce interest over those 10 years.

@Sean Powers

A quick google search

The QuickBooks 2020 version will also likely be discontinued, and support for it will stop on or around May 31, 2023. What should GSG clients do? While Intuit is encouraging users to migrate to QuickBooks Online, we urge our clients to migrate to QuickBooks 2022 before September 6th.

Many small business use QBs it's not going away the - Desktop Installed Versions are going away. Now QBs is subscription based online version. Has benefits but not a fan.

I have used QBs for over 30 years for multiple types of businesses. For Real Estate use Classes - Each Property is a separate class.

@Brent Rieman

Ask her to payoff those credit card balances? Whatever the circumstances doesn't matter she should pay them off or have someone negotiate them down make payment arrangements. Having a 480 and have showed good faith of paying off collection accounts goes a long way. Maybe 18 years ago I may have accepted and I did but never again. No good deed goes unpunished.

@Greg R.

In 2005 the Government FHA had lost the major share of mortgage loans to conventional lenders. So they relaxed underwriting and modified appraisal guidelines to match conventional mortgages, banks and loan officers pushed FHA loans because all were paid big $$$. FHA Loans to the Borrower very expensive loans.

What could not make it through FHA went to Subprime - we know how that ended. Also at the time Banks were lending conventional 100% with 80% 1st mortgage and 20% home equity lines. Ugly setup if you were not savvy. The 1st mortgage could be a 10 year interest only and the home equity was 10 years interest only. The first 10 years of a mortgage is the majority of the interest.

Borrowers were told to just Refinance out of the loans 1st Mortgage / Home Equity Line in a year or so. The issue most people only paid the interest only on both loans, home equity lines had an early payoff penalty, they had no equity and home prices were in decline. They did not even qualify for a rate-term.

All of the above followed a huge refinance - rate/term and cash out surge ending in 2005. Late 2005-2008 refinancing was rare and very expensive.

So I have no crystal ball although the Government and Banks do. This time majority of Borrowers have equity in their homes at least 20% and even if they over paid - they still had to increase downpayment. Many sold their homes over asking too. Just a little different take on the 100% financing - the bet there will be some X amount of equity to rate/term or cash out. Refinancing is expensive taking a loan back out to 30 years and all the fees, title insurance, appraisal, etc.

Although this time when the Government Banks decide it's time to get things going they will create a Refinance ' frenzy'- lower interest rates and push cash-out refinancing - it's all been planned. Most people forget.

The same as the housing boom and inflated prices. Government creates homebuyers and renters.

There's more just a little different perspective...

@Ty Tucker How confident are you that the deal is going through? Based on your confidence level I would ask the owner to deliver the unit vacant - cleared out and in the event the deal does not close on the closing date you will cover the rent, etc., etc., until x.

Also look into an commercial ozone machine.

@Eliott Elias I agree they need to create a refinance frenzy. It always happens this way.

@Harita Konjeti Fair but firm. Clear but firm communication as of how things will be managed from this point forward. I self-manage properties as if I were out of town. Usually new tenants have questions some more than others. Questions immediate reply, nice to haves; I will look into that and get back to you, complaints immediately pickup the telephone and maintenance request contact service provider. Emergency Repairs are and should be minimal if any for a new tenant. Property Management includes Tenant Management this is just as important as Property Management. Poor tenant management can be very costly time and money.

You never want to deter tenants from asking questions or for nice to haves, reporting maintenance or repairs, or even complaints request because small issues guaranteed will turn into big issues. How I manage, respond to or act on is totally up to me.

Sometimes nice to haves can improve your property their home and a benefit to both long term.

@Linda Roberts. We would give them access - allowing them to move things into a storage space or code for garage for insurance purposes they can not store items in unit or move in until lease start date.

@Luke Hoffman

Emergency Procedures for Repairs and Emergency Contact List for Plumber (Sewer), Roof, HVAC, Trees, Pest Control, Share Laundry Washers & Dryers, etc. We self manage. Maintenance Agreements with Service Providers yearly, semi-annual or quarterly maintenances provided.

Accountant Contact Info

Insurance Policies and Broker Contact.

User Id and Passwords

Rental License Renewal Procedures