All Forum Posts by: Jack Trader

@Jay H.   Can you send it my way too? Thanks.

For those landlords looking to use credit/debit cards to accept rent payments from tenants, I thought this link would be useful, if you are thinking of passing the 3% credit card processing fee back to your tenant. I came across this link and figured it would be useful information for any landlord looking for similar information. Enjoy...

http://www.ncsl.org/research/financial-services-an...

@Pat L. I have a similar situation where I am in the process of renting out my condo to a corporation that will have visiting consultants in the area. Would you mind sharing a copy of the lease that you did (delete all the confidential info ofcourse) Just want to get an idea of how the lease may differ from a lease to an individual. 

Also did you do a background/credit check of some type on the corporation?

No replies? Can anybody provide some details? I have a similar situation. 

What lease terms need to be different when leasing to a corporation?

How do you do credit/background checks on a corpoartion vs an individual? 

@Tim Touchette Can you provide some details on how a lease for a corporate entity might differ from one for an individual? Also how do you run a background/credit check?

Hi BPers,

 I recently bought a foreclosed property and while rehabbing it, realized that the next door house was vacant. Upon some investigation I found that it was underwater (mtg owed $400k; house is worth about $225k). It had 2 foreclosure actions on it - one in 2009 and one in 2010 - both for sheriff sale auctions and both were cancelled. I called the tax assessors office - hoping to find the address of the absentee owner. Taxes are current (so somebody is paying the bills every quarter). The tax office is mailing the tax bills to the property owner at the property location address - they had no other address for the absentee owner. I have been unable to find the phone number or the address of the absentee owner on the internet. Also checked with the neighbors and nobody knows where they are.

 The mtg holder is Bank of America. Is there any way to get some information from them?  The house is in good condition except for water damage in the basement. Its a good potential deal if I can find the owner/bank contact to make an offer. Any advice on how to proceed is much appreciated.

Thanks.

ok never mind... I googled some more and found this article. Explains why flipping would not qualify for a 1031. Thanks.

@Wayne Brooks , why does flipping not qualify for 1031 exchanges? When I read this article on Forbes it appears flipping is perfect for 1031 exchanges.

@Jerry Rodgers Congratulations on the profits. That is very encouraging! I started about the same time as you...Fall of 2013...and I am into my 4th flip now...hopefully will end up netting a sum of around $120k across the 4 flips if all goes well...so I am very interested in this conversation as well...

@Wayne Brooks , why does flipping not qualify for 1031 exchanges? When I read this article on Forbes it appears flipping is perfect for 1031 exchanges.

I am looking for similar information on cabinet/granite suppliers and installers in NJ. Anybody?