All Forum Posts by: Eric Snyder

@John S.

If your replacing a gas unit with tankless, it may not be too much trouble. If the current unit is electric you could have to replace the electric panel before going tankless. They use 120-150 amps or more when running and require 3-4 double pole breakers.

@Amanda Palmer

I’m not much help with your Ring camera but thought I’d throw out another option that’s available. You would need a different camera so you’d have that upfront cost. Do an Amazon search for cellular security camera and you’ll get tons of them. Look for one that works on your providers network and get a SIM from them as an add on to your plan. Should only be $10-$20/mo. for service to the camera. If you really need a camera, the long term savings should pay for the Ring and you could hook that up at your house. Good luck!

@Victoria Lombardo

With my most recent turnover, I had a great tenant in place before the old one had even moved out. I simply put a for rent sign in the yard when the tenant notified me they were moving. You may not consider that a platform but it was how I found my last qualified tenant. I felt very lucky with it being my first time not listing a vacancy and proved to me that it’s not always necessary to use a listing platform. Hope this helps!

@Jordan B.

Hey Jordan! Don't know if you have any Huntington Bank branches in your area but they usually offer their customers a HELOC with no upfront fees. The appraisal is drive by and comps for valuation. Up to 80% LTV. No annual fee with, I believe, $25,000 on deposit. This was the case a couple months ago and may be different now. Never hurts to ask them if you're interested.

https://apps.apple.com/app/id657773184

I’ve been using the app for at least a few years on my iPhone.

@Daisja Vance

Hi Daisja,

Debt is simply a tool and NOT a swear word. I’m guessing, like most of us, you know a lot more people who have been hurt by debt than those that it’s benefited. Think about this… If a person picks up a knife for the first time and cuts off their finger with it, guess what…. Knives are bad (from their perspective). But the knife was just doing its job!!

Too many people start out picking up the debt tool without understanding what it is. They only see what it can do for them in the now. When it’s time to repay the debt they are woefully unprepared! Because of this, and other reasons, the debt word has become stigmatized ! There are even people enriching themselves by perpetuating the myth that debt is the Devil. And I suppose if debt has cut you, you might buy into that mindset and spread the message that debt is bad.

Once you understand what debt is and how to use it, it can be a powerful tool that you can use to actually make yourself money. Look at it like a high jumper who has just discovered this tool called a catapult !You are in the right place here for learning what debt can do for you in real estate!

@Daniel Harrell

Does your current “mortgage payment” include escrow for insurance and property taxes?

@David Ade

First thing I would do would be to update your lease.

As an example, mine reads:

LESSEE(S) agree(s) not to rent, sublet, or in any way assign the right to reside in the dwelling or any portion thereof, without permission from LESSOR at which time the Rental Agreement may be altered to reflect LESSEE(S) changes or additions of residents.

Of course, you want to make sure that your changes/additions comply with local laws.

Good luck!

@Mark Borrego

I believe the prices on MLS listing sites that you are referring to are including estimations of the properties taxes and insurance hence the much higher price. Click on the estimation price and you should see a breakdown of the mtg. , taxes and insurance costs. The mtg. price should be very close to that on the BP calculator.

@Kai G

I have posted notices plainly and in envelopes on tenants doors . I like to scan the notice with my signature the same day that I post it along with taking a picture of it on the tenants door. My attorney said that my account of this would stand in court but as Jim said, consult your attorney and also educate yourself on local laws.