[PA] Insurance for water/gas/power line for investment properties

Hi all,

I have a water line that broke in one of my investment properties, which sucks. It seems (from what my property manager told me) that it is not cover by the insurance. He told me that such insurance are often offered to homeowner but not for investment properties.

Do you have a special insurance for your properties? If yes, which one? Do you recommend to take one?

Thanks!

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Selling a house after just a year of ownership ?

I bought a house and am thinking of selling it after just a year of owning it, primarily due to not liking winter shoveling (brutal here in northern MN), go back to renting a nice apartment. I am wondering how it looks to potential buyers when they check Zillow/other and see the house was purchased just a year prior to it being on the market– will that negatively affect the selling price? paid cash for the house so my closing costs were almost nothing, and I would sell the house FSBO, list on MLS, and pay a 3% commission to a buyer's agent.

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Massachusetts Lease Expiration Question

We are the tenants in this question, I know MA has some specific laws so I'm hoping there is a MA LL or Realtor that can shed some light on my situation —

We have lived in our apartment for a few years. Our most recent annual lease expired on Nov 30th — we had asked our LL in the 2 months prior to Nov 30th to give us terms of renewal, but they didn't, they would respond saying they were working on it.

Dec 1st rolled around so we paid our usual rent, the LL didn't object or say anything…

A week or so later they sent us a renewal offer, it was odd because the offer stated a new end date that would have made it a shorter lease (essentially it was all back dated to look like they were offering a Nov '18 to Oct '19 lease).

Anyway, the details of their renewal offer are irrelevant because we didn't accept or respond to that offer.

Last week we gave our landlord written notice that we'll be leaving at the end of January — that was over 30 days from the point of giving notice to when we'd be vacating.

Our landlord has come back and said they accept our notice, but that the our original lease agreement states we agree to give 90 days notice to them, so we owe rent for Feb & Mar unless they find a replacement tenant (unlikely… there are other vacancies in the building and it's the wrong reason to find tenants).

I think that the original lease expired on Nov 30th, and we converted to tenants at will when they accepted our Dec 1st rent payment w/o objection. I think one that happened both sides only were required by law to provide 30 days notice.

Is the landlord correct that I have to give 90 days even though I'm a tenant at will and that original agreement expired?

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[CA] Question about when a seller can back out

Background info:

I'm advising my brother on the purchase of a condo in California. We have a signed contract as of Saturday afternoon, they are depositing the earnest money check sometime this morning, and we have the inspection this afternoon. There is an inspection contingency, an appraisal contingency and a loan contingency. I'm not anticipating any issues with any of these because 1) the place is a fairly new condo that has been well maintained 2) we got a good price for the place 3) we've already worked with the mortgage broker to get preapproved for the loan. I bought a condo in the same complex about 6 months ago and used this broker for my loan, so I feel confident in his preapproval (but we still have the loan contingency just in case).

I do not have a good opinion of the sellers agent. Through the negotiation process it was very clear that he does not know what he's selling, and was making unreasonable demands (like asking to close in 20 days – does he not realize that Jan 1st is a holiday and people are on vacation?). He also has not marked the listing as pending yet, even though he was asked to do so yesterday morning and said he would.

Question:

I am concerned that the seller's agent is still trying to shop around to get them a better price. This place was on the market for 4 months, and we're getting it at $75k less than the original listing price. If we have a signed contract, is there anyway that the seller can back out of the deal?

The situation that I am particularly worried about is that we want to negotiate down a little bit due to issues that we find with the home inspection. If we start those negotiations, does the seller have the right to walk away from the whole thing at that point, or do they just have the right to say that they will not fix/adjust the price because of anything found and leave it up to the buyers to decide if that means they're walking away?

I will also be asking their real estate agent these questions, but I always like to get multiple sources of information in situations where I am unfamiliar.

Thanks!

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What If A Recession Is Really Coming In 2019?

What If A Recession Is Really Coming In 2019? 5 Tips To Be Ready
https://www.youtube.com/watch?v=llNjGy5msCo

With the stock market ending their worst quarter since 2008, there has been much talk about a recession in the near future. I understand that recessions are highly unpredictable, no matter how much research is put into place.

What precautions are you taking?

Is there anyone who was investing during our last recession, what were some strategies you put in place to secure your ROIs?

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[Please Explain When you have time] How do people make money being “the middle man” selling houses?

I'm not a realtor and thank you very much for taking your time out of your important day to read this. I'm not a realtor but for years for about 10 years I have heard of people being able to be able to get a commission or something like that by just finding a home and connecting it with a buyer. Can you not take so much of your time but kind of explain this for dummies for me and how this works because I do not have my real estate license and to be honest I do not know over 5% of real estate I do not know much at all actually I don't know nothing about real estate. But but I have had friends that for a business something happens they explained buying a contract or doing something but I have no idea what they're talking about. My point is my question is how can I make some money just being the middleman connecting the salad with a realtor or connecting the buyer with the seller because I'm really good at sales.

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Why do so many listings have horrible photos?

I’m trying to buy a house. It’s not my first house but the last time I bought it was before there were online photos. I am shocked and mostly disgusted by what I see in people’s homes. There are some things like dirty laundry and air freshener cans in the bathroom that I just don’t want to see. Most of the times I could have taken better photos at night with my old 1980s camera with one finger over the lens! Don’t agents understand that good photos would sell the home quicker?

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Help Selling My Texas Real Estate Course?

I recently purchased a 360Training 180 Hour Texas Real Estate Course, and I ended up not completing the course as I secured a better paying job elsewhere. However, I still have access to the course and can transfer it to another user. My issue is I cannot locate anyone who would want to purchase the course. I would only ask for about 75% of the listed price, but I do not know where to post to find someone to purchase this from me.

Does anyone know of where I can go to find someone that fits the bill? I've been looking for Facebook groups of people who are in or interested in Texas Realty, but have had no success so far. Any help anyone can give would be much appreciated. Thanks!

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List with bathrooms from 1979 or remodel then list?

The home is in an affluent area with high property taxes and good schools. Ive been under the impression that in the last few years, buyers want a home that is move-in ready and does not require work. The bathrooms are an eye sore to say the least. The kitchen is newer. Would it be worth it to spend the money to remodel the bathrooms then list the property or sell the home as is knowing that the buyer will want to remodel shortly after purchase? Would it be worth it to get a brokers price opinion on the two scenarios?

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