All Forum Posts by: Mark H.

Bks show on your credit sometines within days of filing.. that's how your other creditors know to turn off your credit ..

Might be a good question for that lawyer theyre having call you.. if it was an old bankruptcy, the debt would be discharged, and there wouldnt be a lawsuit..

How are you doing "all of the marketing?".. arent you putting your rentals on mls?

I suspect you may end up paying more for less if you go this route..

The "typical" comission splits are so low in my area, that most agents wont even bother showing rentals.. trying to cut those fees even further would be a great way to have an empty rental..

Paying someone who isnt licensed (or the owner) to show a property likely goes against your states re laws..

I used the stock white cabinets from the depot in my last rehab. They turned out great & the tenants love them. If you have a water leak, its going to destroy any cabinet, at least with stock cabinets, replacing them is quick and cheap.

In my state, the tenant can break the lease without penalty if the home becomes uninhabitable due to fire, flood or other disaster. The landlord isnt responsible for finding alternate accomodations, nor are they required to pay for it. There isnt anything that would prevent a landlord from doing so, if the ll wants to try to retain the tenant..

If the landlord is somehow responsible for the property becoming uninhabitable (unlicensed contractor floods the home or causes a fire), then the landlord might be on the hook..

Definitely worth an hours consult with a local attorney if you're in either situation..

In my area, there are thousands of licensed agents that maintain the license for the primary purpose of investing. You cant get too hung up on it, because you arent going to beat them to the easiest/best deals on the mls. You'll get leftovers in my area without a license, which can still be fairly lucrative. The only way to beat them is to join them, which really isnt much of a hurdle in most states.

Id say false - short-sales often close at well under market value in my area, due to the fact that they arent really "open market" transactions.. the seller is only concerned with the deal closing, not the price they get.. and banks are terrible at determining market value.

If you're checking for a criminal background, doesn't criminal behavior mean something to you? Crossing the border illegally, I'll give you that as a freebie, but would you knowingly rent to a white guy who gave the feds the finger on april 15th?

If you know they're willing to pick and choose which laws they're going to obey, before they even move in, can you actually expect to use the US court system to bounce them out when they ignore the terms of your lease?

Capitalism is fine and dandy, but you can't take the "as long as the money is green" approach and then expect to use the legal system to help you in your dealings with criminals. Freedom isnt free and all..

Last I knew, Michigan was one of the states that would give a drivers license without proof of legal status.

Its very common in my area of the country. You, as a landlord arent required to verify citizenship, however you also won't likely have any recourse if they trash your house and run. If they're working "off the books", a judgement would be worthless.

A credit report supplied by a tenant has no value.

You have a solid reason to reject the application based on a lack of verifiable credit and employment history, and if you accept this tenant and reject others because of credit or employment, one could argue that you were discriminating against that future tenant. (Reverse discrimination).

You basically have no idea who these people are if they don't supply a soc. They could be felons or sex offenders on the run, you have no way to know.