All Forum Posts by: Michael Smythe

What does your market research show for the value and rents?

The challenge with EVERY PM software is putting in the time to actually learn how to use it.

Have seen many posts slamming certain softwares, but the usual problem is the user not using it correctly.

Would be careful with portfolio loans that use DSR for qualifying.

Most will NOT allow you to owner-occupy the property.

@Rasheed-mass Ali see you reached out to us already.

Finding reliable & honest contractors is probably the toughest part of owner properties.

Where did the tenants move to? How astute did they seem to be?

Bottom line: what do you think the chances are the will legally challenge your keeping of their security deposit?

Suggest you have a professional inspection done.

This will tell you what's potentially wrong with the property. You can use this info to determine what you want to fix to hold or to sell (buyers will inspect and negotiate flaws in price).

Doubt you will win if this goes to court.

Send whatever legal document required to terminate their tenancy.

Typically it's a Notice to Terminate for Possession.

Of hire an experienced eviction attorney, NOT a jack-of-all-trades attorney.

Why is owner paying for grass cutting?

Why isn't tenant being billed for any dog excrement cleanup?

@Ke Nan Wang who controls the account with the security deposit (SD)?

If it's you, what's the penalty if you just charge damages against the SD and liquidate it to your operating account?