All Forum Posts by: Laura Marks
Laura Marks has started 3 posts and replied 125 times.
Post: Rental market in De Soto KS
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Hi Austin,
If you want to send me the address, I can give you a rent comp.
Post: KCMO Health Department & Healthy Homes Rental Inspection Program
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
You need to register, but there is no inspection in KCMO unless the tenant complains. If any of your properties are discovered by City officials to be unregistered, you can receive an administrative citation for failure to register; this penalty can cost $100 or more per property.
Post: Mortgage Broker Recommendations That Serve the Kansas City Area?
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Hi Andrew,
I have several options for Lenders that can probably get you better rates than a Broker. Message me if you'd like the referrals.
Post: Pipe burst during due diligence
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Quote from @Logan Laperriere:
Nasir,
Have the current owner file a claim on their insurance. After the repairs have been completed have the home inspected to ensure that they were completed properly.
Or negotiate that you use your own contractors.
Post: Eviction/renting in illinois
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
IF you have no lease, you are a month to month tenant, You can be asked to leave with proper notice according to your state. (It's 30 days in my state) If you don't move in that timeframe then yes, he can file an eviction. Can you compromise and smoke outside if you're wanting to stay in the home?
Post: Out of state investor here. What's the best way to find a property manager?
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Quote from @Bob S.:
Quote from @Eyal Goren:
Quote from @Bob S.:
Quote from @Eyal Goren:
Quote from @Cade Edwards:
@Eyal Goren Is there a specific market you're looking to invest in?
I'm thinking about Greenville, SC but open to other more cash flowing places.
Do you have a recommendation?
Check out the midwest
Thanks. Any specific metro?
Good luck
Post: Out of state investor here. What's the best way to find a property manager?
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Hello,
PM here! I can't see where you are but I'd love to have a conversation with you on questions that you should be asking, when interviewing a PM company. My business is now mostly referrals but I have owners come to me from here and Google searches. Message me if you'd like to chat.
Post: Experience using SAVE or CSL Housing Programs in Kansas City?
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Quote from @George Red:
@Laura Marks thanks again for the insight, I spoke to the case manager and it looks like tenants from CSL come from different programs, one of them being housing the chronically homeless. I was informed that the potential tenant in question is a single mother in a transitional housing situation (not chronically homeless) and after talking to the case manager I feel better about things... plus they pay above market rent and a security deposit. I did learn about CPN's thanks to your post and the background check came back as a valid SSN (thanks for the heads up). We'll see how things progress and I'll post updates.
It seems you've done your due diligence and that's about all you can do. Frankly, all tenants are a risk and almost every policy I have in place, has been implemented as I've learned over the years. I've had very qualified people turn out to be the worst tenants and not as qualified people that have been my best tenants. I always say that we need a Briggs Meyer test for tenants because credit score and income aren't always the BEST indicators of what we're getting. I've dealt with thousands and thousands of tenants and I still learn things after 10+ years of doing this and you will too. I wish you the best!
Post: Experience using SAVE or CSL Housing Programs in Kansas City?
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Quote from @George Red:
@Laura Marks ouch 10k in 3 months… mind if I ask what the tenant did and ask what you mean when you reference the psychology of the situation? Thanks for the insight, we’re supposed to do a background check before potentially placing but thanks for the info about the program no longer paying if tenant drops out. Something to consider for sure.
A lot of CSL clients come from homelessness and it was clear they weren't used to living inside of a home. It was a 4 bedroom home and they all lived in one bedroom, as they were used to staying together. A few rooms were ok because of this but other than they stole everything ... every light fixture, door knob, faucet, tore out dry wall to get to copper etc. They had used a CPN (credit privacy number) and I learned the hard way what that is. Policies were implemented because of this rental.
Post: Managing new duplex out of state Need advice
- Real Estate Broker
- Independence, MO
- Posts 127
- Votes 111
Hire a PM to do a FTO (FInd Tenant Only)