All Forum Posts by: Account Closed

Have you researched the downside to condos? The HOA and special assessments alone should give everyone pause. Tampa has a bigger population and thus will have a higher demand for rentals. St. Pete is growing as well, but unless you are closer to the water, I would imagine the rents would be a bit lower. Renters who want to live in a condo are a much smaller group than peeps who want to live in a home. There isn't, in my opinion, much difference between a condo and an apartment. Rentometer should help you figure out what current rents are in any market.

Is the lien on the home or your mother?

Sure.  I would make it a "not bad" area when I was done and then repeat it.

Start reading......

 Well that is a blatant statement of the obvious.  Where you seriously going to inherit tenants and not get copies of their leases before closing?

Do you know the laws in your area?  Check out landlordology to see EXACTLY what the statues say.  A set out is a lot of work and there could be specific requirements for your state.  Call up every apartment complex and sweet talk them.  They probably know everything you need to know and may just give you some information for free.

That is a lot of questions.

This all depends on the deal.  I have some really funky deals and I am surprised that my title company hasn't fired me and vice versa.  

Title searches are pretty basic.  They usually farm those out so they like 7 days.  I have had deals were I needed to close in 3 days, but they clearly are not equipped to do that.  It is possible, just not probable.  

I like to do my own forms. Saves me money. I like to do my own HUD statements, but they tend to fight me on it. Frankly, if it is not a standard deal, they will probably screw something up. But they all will.

I am not sure I have ever received a "report" on the title.  Guess I could ask for one.  If there are issues, they will send me over the issues and ask how I want to handle them.  I like cash deals so I take personal liens subject to a lot.  They will eventually fall off and I have no plans on selling my properties anytime soon.

I do have to stay on them or they forget about me amid all the work they have to do.  I try to get updates every 2-3 days on deals that are not time sensitive.

Higher them a cleaning lady during the sales process?  Probably cheaper in the long run and makes your tenants look clean.

Or get an RV and park it in the back yard.  I would think that would meet the letter of the law.

My understanding is you have to move in within 90 days.  You would need to terminate one of the leases to meet the requirements.  Guess you could always pitch a tent in the back yard as well.