All Forum Posts by: Edgar Z Whelan

In my market a pre approval means nothing. We want to see a desktop underwriter (DU) report. This is asked by listing agents and selling agents.  Cash requires a recent proof of funds

It's an unfortunate situation for all parties, landlord, tenant and property manager. But I am going to defend the landlord somewhat. The way I look at it the landlord has the final word after all its his property and his responsibility. Not sure how long you have been managing properties and how long with this specific landlord.  I am not familiar with the contract the landlord entered with your property management company. What does your contract stipulated for these emergency situations? Also when the owner says he is going to fixed it we are all assuming he is going to fixing it himself. Perhaps he wants to handle the negotiations with the roofers. After all its a very costly investment. Perhaps he wants to seek alternative repairs or perhaps he wants to make decisions on the material for the replacement. Also perhaps there is a insurance claim or perhaps a disclosure issue with the previous owners. And perhaps he is not in agreement with the quotes  that he has received. Personally I have a property manager get  me two quotes and the third quote I get it myself. This way there is no bias. For small repairs not an issue. 

So my suggestion would be to do what's necessary and stop the leak and protect the property and make the tenant happy until the owner gets back to handle the situation per his instructions. 

A lot of comments have been bashing the landlord. The landlord has been clear of what he wants to do. When he comes back he will deal with it. If a property manager is not happy with the landlord decision then he can quit.  If I understood correctly some are suggesting that the PM cancel or release the tenant from the lease.  It's my understanding the lease is between the landlord and the tenant.

One final thought its the responsibility of the landlord to take care of the problem or deal with the consequences. 

I have been in this situation many times with leaking roofs on my rental properties throughout the years. It does happen and is no fun. I have climbed up on roofs to make repairs myself while my wife is standing around watching me in case I fall. What I do now is I call a roofer that is experience fixing roof leaks. Just because a roof leaks does not mean it needs to be completely replaced. Sometimes it could be just a roof nail that popped up that can be easily fixed. Or it could be some roof shingles that came loose.  Regardless you need to show the tenant that you are trying to solve the problem to put them at ease. By doing a repair it buys you time to get roof estimates without being under pressure. It buys you time. Not crazy with the idea of putting tarps on roofs since it can create more damage. 

Perhaps I was misunderstood on my suggestions of using the listing agent. We are talking about buying in North West Jacksonville which I consider mostly zip codes 32209, 32254 and 32208. When I started looking in that area I was looking for properties below 50K. And majority of properties were below 100K.   Not sure if I could have found a buyers agent willing to prepare an offer for 30K. Listing agents working in those areas definitely  know their markets and are very hard working and appreciative. They live and work and pray in that area. (Church on every corner) They know their neighbors.  They know who wants to sell. 

Very hard to find properties below 100K now in that area. And like everywhere very little inventory. So I my advise would be to work with a good agent regardless if its a listing or buyer's agent.   Good deals are hard to find.

If in that area and if you enjoy bar-b-que I recommend Jenkins and the big pig. Enjoy

Not to sure if 

 That city has been hot for about 10 years now.  I have bought a couple properties in Jacksonville and have been very happy. Only regret was not buying more when I had the opportunity a few years ago at dirt cheap prices. There is a big migration of people moving to Jacksonville. Plenty of good paying jobs and a very affordable housing market.  That north west area in Jacksonville is going through a growth cycle. Every where you go you will see new construction. Likely opportunity zone money. Rents are also rising. 

In my opinion there is still time to invest in Jacksonville and you can find cash flow properties. Another area that I think will boom is Middleburg in Clay county. 

I found my properties by looking on Nefar the local Real Estate association website. I would recommend just contacting the listing agent directly. And not bothering with a buyers agent. The reason being that way the listing agent can make the double commissions. They will appreciate it.  Like everywhere else there is very little inventory. So deal with the agents that have the inventory. 

There are investor groups in Jacksonville where you can find property managers and contractors very easily. 

Before you invest I would recommend that you visit the area and get a personal feeling. And also enjoy some local bar-b-que. 

Thanks Jason

Will see how retrofitting works. No idea

They are held on one side by  pins with screw on bolts and the other end  are pointed and go into the window frames. 

If the bolts are removed you can easily pull them out. Not sure if this would be helpful to Insurance carrier.

Thanks Elenis

I already googled her information and will give her a call tomorrow. 

Need some help with property insurance for a rental in Jacksonville FL.

The problem is that the windows have security bars without releases.

I really do not want to remove them. Tenants moving in for March 1st

Does anyone knows of a carrier that will insure? A good agent?

I need some help with  property insurance for a rental in Jacksonville FL. 

The problem is that the windows have security bars without releases.

I really do not want to remove them.   Tenants moving in for March 1st

Does anyone knows of a carrier that will insure? A good agent?

Re occupancy in North Miami means that before you can close on a  property you need a inspection from the city. The title agent will require it. The city is looking for any violations and work done without a permit.