All Forum Posts by: Kelly DeWinter

First , Kudos for calling out a property and a company for a small $ amount.

Second , An exit walk-thru should have been signed by both parties at the time of inspection noting any issues or cleanout charges AT THAT TIME.

Third, check the verbiage of the lease,  if you are still unsatisfied, take them to small claims court.

I charge a cleaning fee and painting fee at my discretion.  Every turnover has required some touch up paint, 

Receipts are not required as most property management companies have a handyman to clean and do touch up.

Zero to None ......... approximately

CR companies are scams. Run your credit report, take it to a competent mortgage lenter and they will tell you what you need to do.

I'd start with "That's a great question, We research properties we call on to ensure the information is as accurate as possible. You agree that having the correct information in important to establishing trust ?" 

Get them to answer "yes" as much as possible and it will make your calling a lot easier.

or 

If you prefer just lie to them, burn bridges and loose any chance at building trust from the start.

LOL, could not resist a snarky answer.

P.S. Burning bridges with people you are asking help from is not a way of gaining help.

Yes, Each week I run a spreadsheet from the mls, with the addition of any wholesale, birddog properties properties im interested in. and a sql database with for all of the properties in my area that are rehab,need work. My sql database has adjustments for either rehab,replace,additions per room or item (I update these each year with a contractor in my area). I select what needs to be done based on photos. My sql database also contains all of the MLS sold,expired,withdrawn data for the past 3 years( proprietary to the MLS board) If the property fits 80 to 85 % of where my number need to be, only then i visit the property, then refine my spreadsheet info and rerun against my sql database.

It depends on the Lender. I have used the Navy Federal Credit Union. they have a HELOC program for condos (2 years ago). For banks its about risk, condos are more likely to go into default, either from owner or by condo association being in default.

@Steve Genna

Flood insurance is not messing with your numbers, it's a cold wet fact with some properties.

The only recourse you have is to:
. move the house to a property outside of the flood zone.
. find a cash buyer that does not require a mortgage
. find a buyer who wants to buy the property regardless of the cost of flood insurance.
. keep the property and rent it or live in it.

Call an insurance agent that sells flood insurance and have them check their data base. It takes 5 mins. A real estate agent would do the same.

If those numbers are correct, then this not a fix and flip, because it looks there is no profit margin.

your guess is correct.

I personally prefer fixed rates, I just don't feel comfortable with HELOC's that change month to month