All Forum Posts by: Mike Hanneman

Check your COC and if you can make more else where then I'd sell and put my money there. If it doesn't look like you can do better stay put.

To satisfy her complaint I'd go over and take a look to make sure the tenant wasn't doing anything dumb, i.e. leaving a window open in one room. You'll notice when you walk in if its cold or not and go from there. You going over there shows at least that you are trying to accommodate and care.

I have two daughters and a wife that are always cold so I understand, but I don't want to pay high energy bills either. My wife loves it when I tell her to put on a sweater. Then she goes and turns up the heat.

That is what every decision should be about, not what others on the forum are doing! Do a price comparison and decide that way.   

You are going to be hard pressed to get financials on any property turned over to you until you have an accepted offer. Who would just hand over their tax info for anybody who might have an interest in their property? Would you? I wouldn't!

However, though his financials shouldn't be the deal breaker. You seem to know what the property can or cannot make? You need to just do your own research and if you get the records good if not make an offer you seem fit.

I also would want to pull the credit background checks myself.

 I don't understand why so many people are so worried about the SSN??? For $10 or less I or anyone for that matter can get a list of anyone's SSN and information.

Knob and tube wiring is all over the east coast and Midwest properties in older homes. It was all the only way homes were wired in that time period. Most of the time the only way it's brought up to code is if there is a renovation or an issue with it. It's not the safest way to wire but it has been in that home since it was built. If you have renovations planned then you will have to bring this house's electrical up to code, $3000 - $8000, maybe more depending on size of house. Make sure you include that in any of your budgeting.

I'm pretty sure that a landlord can't keep a security deposit for missed rent, might want to check your state and city landlord and tenant laws.

How is your service for markets other then the bigger ones, i.e. North Idaho, Spokane WA? Are the listing sites tailored for the bigger markets or do they offer listings for smaller markets?

Notify the tenants of the lease violation and keep a paper trail. You can't be afraid to mange tenants. Not sure why so many people are saying to let it be? its your asset and that's one more person in that house. They have nothing tying them there so all liability is on you and your asset. A gun should not bother people as I bet you have had numerous tenants in the past that have had them and you just didn't see it. Just because there is a gun in the house doesn't mean to ignore the obvious violation of lease terms! That is very naïve. Being that one of the tenants is a professional I doubt he would allow anything to happen that would ruin his name and credibility.

Brian Knier a lot of multi families wont let you in till there is an excepted offer. As for tenants being home that's something else that's always common. I wouldn't let people go look at my place without being home, don't be shy about it, it's a business!

Also don't be afraid about losing a property, especially if you are paying over listing, as there is always another one.

The seller didn't accept your offer "as is" did they? That says there that they are most likely going to cover repair costs to a point.