All Forum Posts by: Robert Cheek

If you continue to be a landlord, you should expect when a single person moves in, it won't be long before they have a boy/girl friend moving in. I have come to expect it. If the current tenant hasn't been a problem and the place is kept decent, I'd renew the lease and not worry about it. You could potentially lose some rent,  have turnover cost involved and  the next tenant be worse. 

I just lost a 700K deal this week. My offer was a guaranteed financing deal (my lender even called the realtor to confirm we could close.) Another offer was for cash. Seller of course took the cash deal. Our offers were for the same amount. 

I used some property managers when I first got started. But as I grew I started my own management company. With my own office and private manager I am 100% in control and know whats going on when it happens and not when some 3rd party decides to inform me. Nobody is gong to watch and manage your property/investments like you. I would definitely look into hiring a local person to help you manage your properties. 

My biggest reason for getting the title retired was to resale the home. I bought it for 25k and sold it for 75k on a land contract sale. By doing the work on the title i was able to maximize the sales price.

it was already on a permanent foundation. Nobody came out to do an inspection so that didn't really matter.  

I purchased a double-wide with the same issue. I was able to go through a little hassle and also about $1000 for an insurance surety bond to get a lost title issued. Then I was able to retire the title. I knew this before I bought it so I factored that into my purchase price.  This was also in Michigan so not sure about your states rules. 

I have all my deductibles at $5000.  When I set them up that way years ago, I saved over  $5000 the first year. So I am money ahead already. 

Not sure how your state laws are. Here in Michigan, I mail them a notice at least 30 days before the increase. Nothing for them to sign and return.  

I always keep electric space heaters around just for this type of problem. I explain to the tenant that even as a homeowner you are at the mercy of the repair companies schedule. And I never deduct rent money if I have done my job. 

  Currently only about 20% . Haven't been this low in a long time. Have been getting things in order to step into another small-mid size apartment building.