All Forum Posts by: Danielle Jackson

Congratulations on your first win! Property looks beautiful from the outside. 

You will most likely receive a varied response to this question. Did you look at it before calling a repair person? 

For something like this, I always default to how much I value the tenant relationship. Even if legally I can pass this on to the tenants to be paid, I always weigh the risk of ruining the relationship. 

That seems like a win/win if you are comfortable with the relationship. Having a mother/son live with you can create its own set of issues, but if you are confident it won't be long-term, then it could work. 

I would ensure that whatever you agree to for the son, is in writing, and I suggest including the ramp up if he stays longer than 3 months. 

Thanks for sharing. 

Congrats on your decision and welcome to the forum! You are in the right place for networking, encouragement, advice, and much more. 

Hi Jay. Welcome to the forum. Sounds like you've thought a lot about this move for your parents. To clarify, are you putting the money down (20%) out of pocket, and covering the mortgage for your parents (utilizing the $1250 in rent) from condo? 

Don't forget that you will also have maintenance and needed reserves for the condo as well. I would plan on setting aside a portion of the rent each month for the condo to cover those needs. 

Congratulations! 

What are her expectations? Lender or investor? By that question I mean is she taking the risk of providing all the cash without any expectation of participating in the ownership/upside? Structuring it as a personal loan/note could work if you come to terms that you are both comfortable with. 

Sounds like a stunning property. 

Great advice from @Scott Esmail. Out of state is certainly tricky, but for an expense that great its certainly worth the headache. Whatever you do, don't share the bid you received from the property manager with any of the contractors you ask to come in. It does seem high, and could influence their bids.