All Forum Posts by: Mike S.

Cash App.  Faster than Cozy and it's true cash type transaction.  

It takes about 5-10 minutes of local records searching to find your address unless you have unnecessarily complex series llcs set up.  Even then, if they really want it, it's only $30 bucks online or less to snoop you out.  I use a PO Box and all my properties are addressed to the PO Box, but I've had tenants and neighbors mailing me direct to my home even though not provided the address.

Originally posted by @Logan Hassinger:

@Morgan Granger

As Andy mentioned, Alabama has a redemption period of 3 years. What that means is that the borrower has 3 years to come back to the bank and pay the debt owed and all costs and they get the property back. If you were to buy it within the redemption period, the borrower Has the legal right to buy it back from you. You wouldn’t be able to renovate the property or place a tenant or move in until the redemption is over. 

Typically we offer a deed in lieu and also get a waiver of redemption signed by the borrower to avoid this. 

Redemption period for mortgages(homestead) prior to January 1, 2016 is one year, after January 1, 2016 is 6 months.  You can make improvements and if redeemed, redeemer would have to pay those costs paid for improvement.

I've had dealings with several over the years, but Melrose Tree and Landscaping is the best value/service.

https://melrosetree.com/

These Merrimack duplexes were built for the Merrimack Mill employees long ago.  Amazing looking when fixed up right. Unfortunately, not one of the best areas.  A few years ago, you couldn't give these things away.  I remember a set of 5 duplexes selling for about $30k a piece.  I really would like to see it gentrify and this area revitalized, but I don't see it happening soon.  Maybe a section 8 play could work.  Houses in this block closer to the Bob Wallace side do better, but no one is selling.

If they each qualify separately, then I see no problem.  Some of my best tenants have been college and post college kids.

I have a move in move out form to handle roommates coming and going in situations that warrant it. You can google for one. The key component of mine that it states that all tenants(and one leaving) agree that SD stays with the rental and any settlement of SD is between the tenants. If I have a move in, it also states that new tenant will be on the SD settlement check and that it is again between them to handle collection from the new tenant. Also, I give the new tenant a copy of the property condition report the other tenants signed and the move in/move out form states they agree to the condition report.

My policy is everyone on the lease is on the check.  I don't get involved in how they manage getting money distributed.  If someone wants to be the only payee, the other tenants will need to sign a release form.

Cash App. 

He refused your request, reject him and move on.  

It's easy when they don't comply with a request.  It's not even a gut feeling situation (listen to those feelings, too).