All Forum Posts by: Danielle J.

Chris K. Totally get your point. Now here is the bigger my motivation...the current rents are currently under market by $75 each unit, so I do want to get in sooner than later to start making repairs to help justify increasing rents ASAP.

I just completed the home inspection yesterday and by walking through  the units (3 of which are currently occupied), I know I want to rip out carpet and put in new floors. One unit will be available for me to move in by closing, so I will have full access to do necessary repairs/updates on the unit I will be in which is cool. However I am not sure how to go about replacing floors in other units that are currently occupied. BTW thanks to feedback from my new BP fam, I think I am going to do with mostly "wood looking tile," vinyl plank, or maybe engineered wood!

How do you go about doing floors in occupied units? Seems like tenants may be displaced as they will need to move couches and other belongings.  I have heard of suggestions to wait until tenants vacate to update but what if they plan on being around for a while?  I also heard of reserving a hotel room for tenants while work is completed $$$. Any other suggestions?

@Kimberly H. 

I like your idea of contacting references to learn about pets! I think it's important for people to honest about pets upfront, because eventually you will find that they have pets. Just makes life easier for everyone to know upfront and be done with it.

@Gerald Harris  Yes I have a real estate agent and I am sure she will be helpful, but I like to be self-sufficient to a certain degree as well.

@Gerald Harris Thank you for the head start! I don't want to skip a beat in this process. The inspection starts this afternoon so I will be armed and ready for combat lol! I will keep  everyone posted. 

Ok so today is my first home inspection and I am keeping a positive mindset going in. I know that there are all types of things that can be exposed during the inspection and escrow process, but I want to stay objective. As a first time home buyer, I need advise as to what my role should be at today's inspection. What questions should I be asking the inspectors, listing agent, etc. From a buyer's perspective, what should I personally be looking for during the inspection. 

I also need help identifying other significant tasks I should be doing during escrow. I have an agreement to have 21 days before my deposit goes hard.  I am aware that it is my responsibility to do my due diligence (full investigation) of the property, so I want to make sure I am covering all my basis to ensure that I am making a good investment. Any advise would be greatly appreciated. 

Hey thanks @Mark S.  at this point I am not sure if this is right or wrong, but it sounds fair. Yes I recall reading in my CA landlord rights book that once the tenants moves out, there is a specific time frame for returning the security deposit, however I have to review as well. 

It sounds like automating payments is a huge success factor, thanks again for sharing! @Marcia Maynard 

@Michele Fischer thank you for sharing this! I think it is fair, giving them 10% per month if everything goes well.  A combination of your approach and @Curtis Bidwell approach would be great. Combining the two approaches for refunding security deposit may say: 0% for 1 month, 10% for 2 months, 20% for 3 months, 30% for 4 months, 40% for 5 months, and 50% for 6 months. Between 7-12 months they still only get 50% back, and after a year, they get the 100% back if all other factors are met. What do you guys think about this one? There seems to be so many ways to write up an agreement, however for me, it's important that it's fair on both sides.