All Forum Posts by: Vonetta Booker

Great job, @Marlon Walls! Very inspiring! 😀😀😀👍👍👍

I'm setting a lot of doom & gloom on this thread re ESAs... but as a landlord who isn't adverse to allowing pets in the right situations, I'm wondering why this is seen as such a negative thing? ESA owners still have to uphold maintenance guidelines like other tenants -- and ESA or not, if their pets damage the apartment in anyway, they pay.  What's the difference between an irresponsible tenant that owns a pet vs one that doesn't? Holes in the walls or cat piss --the potential for damage & neglect is still the same.  

Personally? I don't mind allowing pets at all under the right circumstances and upfront lease guidelines -- it opens my pool up to that many more qualified tenants! 

Thanks, @Brian Ploszay.  Yes, my intent was to offer to cover the costs of the cosmetics/exterior--especially in that case, I don't see why the other owner wouldn't go w/ that, since they're getting updated curb appeal for free, lol--but I always like to double check before I get deep into the deal. 

And true, different-looking sides are very common w/ 1/2 duplexes--but I've seen some truly hideous ones! ;-)

I have my eye on a 1/2 duplex for a rehab--however (as is often the case), the exterior looks like crap.  Since the other half has a different owner, I'm wondering if it can work to simply add new siding and landscaping to the whole structure as part of the rehab budget--and offer to take care of the entire cost? I figure it would be a win-win, as the other owner gets his/her property value bumped up for free, while I'm also still improving the value of the rehab. 

Has anyone ever done a 1/2 duplex rehab w/ this option? If you have rehabbed 1/2 duplexes before, how have you handled the common cosmetic issue of mismatched-looking sides? 

@Duke Marquiss, when you say "subordinate" the note, do you mean the seller agreeing to take 2nd position owner financing after the construction loan? Because to my experience, most HML's won't lend on rehab only unless one owns the property free & clear, as they want to maintain 1st position w/ the loan.

Sounds like a good choice you made. Sometimes, the best deals are the ones you walk away from! ;-)

True, however the owners of those same vacant properties you might see during your drives may have also been approached by other investors.  Either way you never know, lol. Personally, I've found the best results by combining several different methods--dollar drives, mailers, door knocking, etc. Like the previous poster said, it's a numbers game! 

Do you ever come across any "We Buy Houses" signs in your area? Or check those types of ads on Craigslist. Call those numbers & ask if you can work w/ them on referrals. Also check out your local REIA, you can find them there as well.

All those fees seem a bit much, IMO. In my experience, PMs charge on average 8-10% of the monthly rent, plus 1 month's rent for screening/placing tenants. 

I think it also depends on what RE areas you're focusing on. PT while working a 9-5, I find, works best when you're using your RE license (MLS access, making offers on/showing/listing your own properties, etc.) more as an investor rather than working with retail clients, who often require you to work w/ them during regular business hours.