All Forum Posts by: Kimberly Vallance

hello angelo! welcome.

feel free to contact me, i'd love to hear more about your businesses and what you are looking for in a partner/investor.

as for the lawncare business, get out of the job by hiring a manager/foreman. you are the owner, not the worker. are any of your current employees a possibility to promote? that would be a good place to start looking.

as mentioned in other discussions - find a local REIA to join. often the members will do a have/want listing. additionally, making connections with other investors is invaluable.

next, find a good agent - ideally one who is also an investor or at least works with investors. have your requirements written down so you know exactly what you are looking for - you might even find something not on the market that could be a good example.

in addition to the other suggestions, when you find a realtor make sure they give you rent comps, too. buying a 'deal' that won't support the rent is not a fun lesson to learn...

@Lisa Gould

every market has something to offer. determine your ideal investment and join a REIA (real estate investor association) near you or online. once you know what you are looking for, ask the members if anyone is selling that or knows a great agent that can help you find your investment. some areas might be hot right now, and some might take a little more time. i recently looked at 15 to find the right one. my last rental house was the 2nd. determining what you are looking for is crucial, though IMO.

Adding to previous answer - you could proceed if the contract still allows an inspection. The inspection would be the best exit strategy if they really are hiding something. If you proceed, make sure you have more than one exit strategy: inspection, financing, etc. 

I'd walk away - feels fishy, like they're trying to hide something.

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so, i know we don't buy a house just because there is a pool table in the basement. (and let's not discuss the outcome of that game we played during the showing...) Overall, the house is in decent shape for it's age. My inspector's report is 200 pages of detailed notes and pictures. There are 22 items that require repair to bring the house back up to rent-able. There are an additional 87 items that will need to be addressed to get full rental value. Some of these may or may not be flagged by city when I request a Cert of Occ. My repair estimate is $10k, and it was vetted by my handyman who knows I'm hiring someone else for the job. And, FWIW, this is the only property in my 1031x still available. Does this seem like a good deal? 

hello all. I'm looking for some information on how to handle the water bill. The bill is in the tenants name. I get a copy if they send a shut off notice (to avoid  reconnect fees-i can switch it to my name if required). The title company is charging me the current outstanding balance on the water bill. The purchase agreement states the tenants have 30 days to move after the close (today). So, do I ask them to pay me back (theoretically because I  don't plan to do it - this is for my education at this point) or write it off? The closer seemed surprised that 1-the house is rented and they have 30 days to move, and 2-that the bill is in their name. 

Good morning everyone! I am working with a private money broker. We are getting the appraisal completed, and everything is looking great! I'll post another update closer to the close date. 

@Anthony Dadlani Thank you. I set up something for Monday.