All Forum Posts by: Marc Freislinger

There are a lot of deals on the MLS, but I tend to remove myself from a wholesalers list if I look up the property address and see a pending property for less than the wholesaler is asking.

Two reasons:
1) I have probably already seen and turned down the property.
2) If I decide I do want it, I can make a back-up offer on it, and wait for the wholesale contract to fall through and get it anyway.

If you lock-up an MLS deal, that's great. I know you can get it for less than LP, so at WORST you should be offering it at LP to make your finders fee.

Just my opinion.

I've seen water companies and gas companies provide water saving devices at no-charge to apartment complexes. The gas company did it to save on water-heater costs. Installed new aerators and shower heads in every unit. Worth looking into if you're paying the water. Of course, it wouldn't hurt to do it yourself anyway.

It is currently invite-only. I was going to send you an invite, but you do not have an email in your profile :cry:

I think you may have misunderstood me.

I did not mean to imply the landlord cannot enter the unit if the tenant does not allow it. I only meant they cannot do so if the visit is unannounced. If you have given the notice required by law, then you are legally able to enter the unit. My point was that by giving notice, you are giving the tenants time to clean up whatever it is you are hoping to catch.

You cannot do an unannounced inspection once a month. Tenants must be provided the notice required by state law prior to you entering their property. Unless, of course, they give permission, which means that if they have anything they don't want you to see they'll just tell you to bounce and there's nothing you can do.

Also, having lived in several multi-hundred unit complexes, and working at several more, I assure you that most maintenance teams have much more to do than inspect every apartment monthly.

I do recommend periodic inspections to check for maintenance issues, but to think you're going to surprise anyone after having to give notice to enter seems a bit crazy.

To the OP, I would not consider it a problem if the tenants are smoking outside. It could have been a friend or something even. Follow Brian's advice and have a quick chat with them the next time you see them. If they are smoking, and it's not in your lease, there's probably not much you can do other than threaten to evict for lying on your application. They'll just say they picked up the habit though.

Greg,

In the contract, are they allowed to back out if you agree to sell for the appraised price?

This is a lesson to anyone starting out: Get a prenup. It doesn't matter how long you intend for the marriage to last, you need to be protected. They can be written to include provisions to ensure your soon-to-be wife will not be completely left out in the cold if she's concerned, but still leave you better off than if the state decides to split it.

I would speak with an attorney, but I believe she can sign away the right to the properties. You will need to be titled as "John Doe, a married man, buying independently" or some such thing on the deed. She may need to sign something giving you the ability to do this. If a lawyer tells you this is the case, you may offer her the three current properties in exchange for your sole ownership of any new properties.

The agents have a very limited ability to influence the appraisal. The real problem is that appraisers seem to use the purchase price as the max they will appraise a property for, while looking for any reason to bring it lower.

$2,000 doesn't sound worth losing a deal over. Drop the purchase price and sell!

I don't see any reason to check ID for independent contractors. They are responsible for their own taxes and issues. Personally, I'd rather an illegal work than sit at home and collect benefits.

I think the government should make it easier for those wanting to work to immigrate to the US. Most of these people aren't taking jobs Americans are willing to do anyway.

Oh, and one of my Hispanic workers was injured a couple weeks ago. I did not know this until today. He's a sub of a sub. He was working today to pay back his $20,000 hospital bill that your taxes won't be paying for because he actually gets off his *** and goes to work. I have more respect for him, legal or not, than most of my old tenants.

The media tells them it's their "right."

I tend to agree with you Ed, I find it hard to imagine any roofing contractor would be able to guarantee 100% that every nail has been removed from every flower bed, yard, driveway and sidewalk of every job.

Unfortunately, you never know which way the courts will go these days, and I feel like the option of paying the bill and getting a release signed is the way to go.