All Forum Posts by: Pete T.

There are a lot of ways to get across a point w/o the attacks. Some of the same people on here are constantly responding to people in the wrong way.

Check state laws (should be a guide to your lease). Itemize the exact damage. We always use a middle number estimate for repairs. Court is not the end of the world. Have been a couple of times, never any issues. The times I have seen people have trouble in court is lack of documentation or ignorance of state laws. @Joe Gore, if we have tenant that wants to leave early we usually work out something beneficial to both parties and some cases just have them leave. If a tenant wants out of a lease, they will find a way. It just seems easier and cheaper in the long run.

I dont know how it is in your market and I am clearly not an expert, but a lot of the lenders dealing w/ these homes do not seem to use a lot of business sense. I would say less than 15% discount is what I have seen, which really makes them a waste of time IMO.

Welcome to the site Grant. I have been talking to a lot of the locals on the site and plan to start some meetings with like-minded individuals when I move back to VB in a couple of months. Send me a msg if you are interested.

Can you guys clue me in on the benefits of retaining mineral rights in TX? Thanks!

A good buyer's agent can work you though all of these questions and should be able to provide good advice and answer other questions that come up along the way. I would suggest word of mouth for now until you know exactly what you want and expect from your agent.

if you are looking at between 90-100% of market value, what is the point of even going through the trouble. I agree that the list price is completely irrelevant.

What are your current calculations for repairs? Is it zoned for use as a duplex or more? What type of income do you expect?

You can only share your opinion and point of view. Ultimately, it is her decision. I wouldnt get so worried over it and instead see how you can help her w/ the decision she is making if it is clear she doesnt want to follow your lead.

I would be more concerned w/ the payment history. It is probably a good thing to give you time to see if they are tenants you want to keep. Long term leases are ok once you got the right tenant, but the laws in VA all favor the tenant and it can be hard to get rid of tenant that isnt blantantly breaking the terms of the lease. They have many ways to get out of the lease if they no longer wish to abide by it anyhow.