All Forum Posts by: Daniel DiGiacomo

I'm not an attorney, but have dealt with something similar. If your purchase contract states that you're buying the property and whatever chattel/possessions exist (more often than not, spelled out: "as is"), then you likely inherit the liability if you dispose of the possessions within 14 days. The 14 days doesn't restart when you take possession. So get a copy of the notice and wait 14 days from the date of the notice before you throw everything away. That is what I would do. 

Alternatively, the title company you're using might have a lawyer who would be willing to give you a more legally accurate answer to this question. 

Happy investing!

Hey Thomas! as an investor I wouldn't sign an exclusive agreement with a buyers agent unless they were almost in-house with you, working for you 24/7. I've never been asked to by a Realtor to be exclusive on the investment side. 

If you're being asked this, then I would suggest that you have a sit down with the Realtor and have a handshake understanding that whatever properties that Realtor presents to you, you'll consider them your buyer-agent. But not any property that simply exists for sale. 

I'm hoping a Realtor chimes in and gives some feedback.

Happy investing! 

First, house looks great. I actually know the are as well... it's not bad at all. I've read quickly through some other replies and I'm not sure I have too much more to add. I'll just say that some of the things that have been pointed out have worked for me in the past.... they include giving people a "deal" and asking for some feedback on the showings. Even if it means you pick up the phone and call the walkthroughs back and ask them for feedback. Another reason i would keep track of showings is so you can text/call/email them when you decide to lower the price or offer a deal. 

I've had success with "first month free" on a 2 year lease. Assuming the tenant is qualified. 

Also, I do think the deposit being more than the monthly rent is a little much. And I'm not sure a cleaning deposit is normal in this price range. 

Just my two cents. Best of luck! 

There are three national REIA's in Florida....

http://www.mynationalreia.com/clubportal/795files/Directory.cfm?clubID=795&statevalue=FL

With an actual deed transfer, I can't imagine in any market you can get a transaction done in less than 3 or 4 days. 

But anything under 2 weeks is considered pretty quick... 

CONGRATS! Good job! 

I would either search facebook for the owner or http://www.whitepages.com/reverse_address.

A rental agreement provides for a tenancy of a short period (often 30 days) that is automatically renewed at the end of the period unless the tenant or landlord ends it by giving written notice. For these month-to-month rentals, the landlord can change the terms of the agreement with proper written notice.

A written lease, on the other hand, gives a renter the right to occupy a rental unit for a set term -- most often for six months or a year but sometimes longer -- as long as the tenant pays the rent and complies with other lease provisions. The landlord cannot raise the rent or change other terms of the tenancy during the lease, unless the tenant agrees.

Unlike a rental agreement, when a lease expires it does not usually automatically renew itself. A tenant who stays on with the landlord's consent after a lease ends becomes a month-to-month tenant, subject to the rental terms that were in the lease.

Really, people use the terms interchangeably most of the time. 

I started with single family row homes in Baltimore City, but if I were to do it all over again, I would have targeted as small 4 unit building... I would probably focus on residential. I'm concerned that vacancies in small commercial spaces have taken so much longer to fill than residential. Unless you use that small commercial space to do your own cash business like laundromat, etc.  

What are you looking to do? Buy and hold rentals or rehab and flip? Have you thought about wholesaling to other investors to help build cash? I've bought rentals with no money down and I've also bought properties that I flipped with no money down... its all about having the right hard money lender or private money partner.