All Forum Posts by: Dan Hatch

I need a recommendation for an attorney or title company that can fix some issues on a title (may need a corrective deed). There were a few quit claim deeds done wrong. This is a single family home in Conecha county Alabama. Of course closing was last week and the current attorney backed out, so the sooner the better, we extended the closing date to 6-15-19.

Thank you

I may be putting in an offer on a duplex with long time low paying messy problem tenants. Is it ok, or ethical, to ask for the property to be vacant at closing? One tenant is month to month, but the other has 9 months left in her lease. I don't want to hold her for 9 months, I can see she's a problem already. If you have any ideas, let me know, thanks!

In the new lease raise late fees and if market allows rents. The tenant is a higher risk when paying late and probably is small mishap from a financial collapse

I had a toilet overflow in the master bedroom and two days later the living room floor was wet underneath. Water can travel under walls to a lower point. I also had the HVAC condensate and destroy a floor. For these reasons I now pay twice as much for luxury vinyl planks instead of laminate wood. If you charge the repairs on the tenants security deposit make sure you have absolute proof of neglect and before and after pictures. Good luck!

As part of the contact, before closing non paying or bad tenants must be evicted. This will get the owner to work on getting the deal closed. Also, close on the 5th or later to make sure all rent is collected and then transferred to you at closing.

Congrats, I've been thinking on making the switch, I'm in Pensacola area and have also seen a few listings in Tally. How much cash did you need on reserve?

I have been investing in Santa Rosa County since 2007, we have done a lot of rehabs, sold a few and hold a few, I am my own property manager and my wife is a real estate agent, we make a good team. If you want to sit down and talk real estate some time, phone or in person, let me know, I like to help.  I am very conservative in my investing and my goal is cash flow and retirement. I know the market well, some times right down to the street name, of where is good and where to stay away from. 

looking forward to it, for some odd reason I think I missed last month.... Busy busy busy lol

I buy SFH in my own name and financing and use my LLC to manage and fill out lease, collect rent etc.

After some time had passed, I deed the property over into my LLC, just don't forget to tell the insurance company. I never had the mortgagors say anything, but if there ever was a big deal like a due on sale clause, I would feed it back to myself. Don't use a quit claim deed, use a general warranty deed.

I had a great time, thanks y'all ! Looking forward to the next meeting and networking with everyone along the way