All Forum Posts by: Peter M.

@Dhiren Ahir Yes, title policy and other fees. It will be a little less than if you were using a lender but still a couple thousand depending on sale price. Plus if you go through a typical wholesaler or even if you find the deal yourself, a lot of the time the investor will pay all the closing costs. If an owner is offered 100k for a distressed property and they get to closing and see that its only 95k they may walk. Every deal will be different.

@Dhiren Ahir @Charles Carillo is right but to clarify the downside is paying closing costs twice. It is effective especially is a hot market like this to use cash to entice a multiple offer situation to accept but if you dont have to do it, get the mortgage when you purchase and save yourself the second round of closing costs.

@John Apple Listen to your broker. After what those people did to you, you would go behind his back and ask people you don't know, on the internet, for an answer you want to hear? Then what? Go against his advice, waste time and money and cause a rift with your broker?

@Chase Lowry Not really. You don't learn much from the classes that really help you in the day to day. The costs add up quick and you need to sell at least 2 properties a year just to break even. You can be successful both routes but it depends on your personality

@Bobby Bohren No. Get an umbrella policy and save yourself money and headache. I wish I had never done it

@Erik Hansen I've been pretty happy with ring. They have everything connected through the app except a thermostat so I use ecobee. Can use kwikset, schlage, or yale lock sets. Use hardwire cameras if possible or use the solar charger to minimize charging. My doorbell was dead for a month because it was booked solid/winter texas storm so I couldn't get it recharged. Guests usually don't use the security alarm function but some like to have it and we like it since we're over an hour away. Whichever lock set you pick, get the same brand locks for the other doors so you can make it all a common key

@Max T. Is this for tenant screening? Just ask for pay stubs

@Nathan G. I know you could sense my dripping sarcasm and you are right, it isn't a laughing matter but its how I deal with things out of my control. You can agree here are worse ways people could channel their frustrations with the government overreach. Like most things government, the intention may be well placed but the consequences are short sighted. And the rich are just doing what they always do by taking advantage of a situation to enrich themselves. Its the golden rule: he who has the gold makes the rules.

@Joe Splitrock Landlords are evil money grubbing cretins and deserve what they get. They don't need government protection when they can just take money from their gold filled swimming pools a la McDuck style. Thank God the government is protecting the little guy from those monsters.

@Chris Mury Try turnoverbnb.com. I've been using it for a few months now and have been generally happy with it. The app interface can be buggy but it does make the cleaning process easier. Plus I found my cleaners through it and she has been much better than the 3 no shows I got trying references and Facebook marketplace