All Forum Posts by: Eric H.

@Bruce Gibson Greetings,

1. Read it. And then read it again. Highlight any areas that you don't understand.

2. Go over those areas with a local real estate attorney.

3. Go over those areas with a local real estate agent or broker.

4. Ask questions here on the forums about the areas you don't understand.

I don't think you want to focus on efficiency in this circumstance. The main thing is to make sure you understand what you are signing. Take as long as you need to read any contract and ask as many questions as necessary to get a clear understanding to your satisfaction.

I wish you the best!

Peace!

@Thalia Mena Greetings,

Yes that's plausible. Maybe not with a HML, but with maybe a private lender that you have a personal relationship with.

I wish you the best!

Peace!

@Simone Johnson Greetings,

Do you own the property? Or are you trying to acquire the property?

Try looking online on the jurisdiction's/county's website. Click here.

I googled "housing code violations fulton county georgia"

I wish you the best!

Peace! 

Greetings @Clark Henderson,

I would look at it as an opportunity to renovate unit, raise rents, and get a tenant in the unit that meets YOUR standards.

I wish you the best!

@Nat Rojas Thanks for posting question. Great discussion.

I have rented during this time of year with ease. I keep my rents lower than the average to attract a bigger tenant pool and to lower vacancy. With that being said, I think it's the price. Lowering it 50 bucks a clip is a waste of time. Lower it to $1000, you should get a decent amount of applications. If you lower it to $900, I am almost certain it will get filled before the holidays. Even if the tenant doesn't move in, he or she will probably be willing to put a non-refundable deposit down to hold it until next month @$900.

To the point about your pm, next time consider hiring someone that specializes in tenant placement only. 

Let us know how you made out.

I wish you the best.

Peace!!

@Vinson Lee Greetings,

Sounds like an electrical issue if all of them stopped working. Is the unit plugged in? Does the outlet have power? Have you checked the breaker to see if it's tripped?

Greetings @Amber Linthakhan,

You'll be paying the tax rate based on that total # (73,200). Here in Baltimore its approximately 2.3%. Depending on when the tax bill is due and paid versus when you actually close will also determine how much you pay in taxes at closing. If the tax bill is due in January and you close in February, the previous owner will be responsible for 1/12 of that year's tax bill while you will be responsible for the other 11/12. They may even break it down by days. Example: Total tax bill is $1000 that's approximately $2.73/day. January has 31 days, so previous owner has to pay $84.63 and new owner is responsible for the balance.

Yes calling around may be your best for insurance quotes.

I wish you the best!

@Juanita Evans Greetings and congrats on taking action!!

I would say the ultimate goal is to get a decent tenant in your property that will pay on time and keep the place clean, regardless of time of year when you start the lease. Ultimately, do not wait for the 'perfect' time to start marketing your property for rent because it may take you a while to find the 'right' tenant. Furthermore, don't take a tenant JUST BECAUSE someone recommended that March is the right time to sign a lease. Tenant screening is a big determinate of success as a landlord. Take it seriously.

I wish you the best!!

@Tyrus Shivers can you help @Richard A. out?

@Jack Zhuang Greetings,

I would talk to the closing agent/title attorney about this calculation. He/she should be able to help you come to a definitive figure. Do you know/understand how this figure is calculated at closing? If not, you should educate yourself on the math. It's pretty simple imo. But either way, if funds are going to be exchanged, consider going through the title company that did the closing.

I wish you the best!