All Forum Posts by: Karl Smith

@Arturo Gouro You could qualify for a primary residence since you live in FL now from what I read. If you can go that route it would be 3.5% with an FHA loan for example. Not sure on all your specifics, but I would check with a good realtor and mortgage company.

As Douglas said prior just call your local municipality. Since it's not your fence and the cost is high to fix it I would tell your tenant that there is nothing you can do right now.

Tell them to hire their own attorney. I would then start the eviction process since you already gave them notice to move out. 

Any lender will want to be in 1st position in case the loan were to go south. You will want to get an attorney & title company involved for this deal. Generally the lender has his/her terms already in place unless this is a friend or family member where you can both agree upon the terms/rate/payment, etc.

I'm looking at doing a rate/term refinance only to pay off my hard money lender on a rental property.

@Mitchel Ellis

If you plan on keeping the property long term as a rental I would replace it now. Do stuff like this the first time around so it won't be a problem later.

@Robin Cornacchio- I charge tenants $25.00 per month for their dog. Sometimes I may charge a pet deposit of $150.00. It all comes down to the type of dog and your gut instinct of how the tenant will be in your property.

@Andrew Earle

The main thing you need to have for your business is a General Liability and Workers Compensation policy. Workers comp covers work related injuries, doctor bills, lost wages, etc. So if you hire that Craigslist worker for a day or a couple and most likely they don't carry WC it would fall back on your policy. It only takes one time for something to happen on a job site. Once that injured person gets an attorney, well you can think of what will happen without your WC policy you wish you had in place.