Hi Ketha,
If the fire Marshall who tours your home says you need one, then yes. I recommend that you follow his instructions and recommendations for your property renovations.
Gene
Isabelle
I understand what you are saying but at the same time have found when I was looking for personal housing years ago there were those brokers who held listings for their office only also not all broker’s offices deal with bank owned properties and properties that know how to handle short sales, foreclosures and other properties similar
Elliot,
Totally understand, it’s a personal decision and totally up to you. Just letting you know what best practice is.
Find someone you like and that understands what you’re looking for and you shouldn’t have any issues, but you can use as many or as little realtors or brokerages as you like.
Isabelle
Keon,
All the time, we have different levels of support for our graduates and our Platinum level students receive help with this process often. Learn more by scheudling your discovery call post graduation.
Isabelle
Stephen,
1. Make sure you’re accessing from a computer not a phone
2. Log out, refresh, clear history, log back in
3. Try a different browser
4. If it’s still not working, reach out to support@ralacademy.com
Thank you,
Isabelle
During bids for renovations on a residence, a contractor asked if this project is considered commercial and stated if it is he must follow ADA guidelines. My loan is a commercial SBA, but does this older home need to follow ADA for adding bathrooms or half baths?
John,
This is not Commerical and does not need to be ADA compliant. You’re going to want it as close to ADA compliant as possible, but it does not have to be.
Isabelle
What do you do about keeping all residents comfortable temperature wise? In one home I visited, each room had its own AC/heating unit just like a hotel room so each resident had control of their own room temperature.
Thanks.
Frances,
You can do individual AC units but it gets quite expensive, it’s better to keep a central unit, have fans and blankets in each room and choose a temperature that meets everyone’s needs in the middle. But if you have the budget to do the individual, it’s a great feature and you can market it as well.
Isabelle
I’m in the process of refinancing my own residence in Texas and can take advantage of taking some cash out of the equity. Can you give me a rough figure of how much I will need to get purchase my first RAL and have it up and running?
Jan,
That answer totally depends on a bunch of different factors, so in short, no I cannot tell you here on this Q&A section how much you will need to get started. To give you a generic answer, we have some students who are in for $300k and others who are in for over $2mm. So it REALLY ranges on the home, which of the 3 routes you’re taking and what capital you’re bringing to the table, what Reno’s need to be done and many other factors. We would LOVE to go over this with you individually, so when you graduate be sure to schedule that next steps call with Kellen so we can walk you through your specific deal, thanks! Enjoy the course,
Isabelle
Hi Gene,
Do you recommend having a generator in Arizona?
Hi Ketha,
If the fire Marshall who tours your home says you need one, then yes. I recommend that you follow his instructions and recommendations for your property renovations.
Gene
Would you recommend using one or multiple licensed real estate agent and/or broker when looking for a location/s?
Elliot,
It’s best practice to use one, you don’t want to upset them thinking your setting them up to work against each other.
Isabelle
Have you been able to find a property yet?
Isabelle
I understand what you are saying but at the same time have found when I was looking for personal housing years ago there were those brokers who held listings for their office only also not all broker’s offices deal with bank owned properties and properties that know how to handle short sales, foreclosures and other properties similar
Elliot,
Totally understand, it’s a personal decision and totally up to you. Just letting you know what best practice is.
Find someone you like and that understands what you’re looking for and you shouldn’t have any issues, but you can use as many or as little realtors or brokerages as you like.
Isabelle
@isabelle How often do students ask about help with acquiring properties for RAL?
Keon,
All the time, we have different levels of support for our graduates and our Platinum level students receive help with this process often. Learn more by scheudling your discovery call post graduation.
Isabelle
Hi Elliot,
MLS listing services are cracking down on pocket listings. It varies by area, but for some there are some fines associated if the realtor gets caught. https://www.har.com/question/3829_how-soon-after-signing-the-listing-agreement-must-the-property-be-entered-into-the-mls
How to find the demographic information for a neighborhood?
Erica,
Google is a great place to start! There are tons of websites that will give you average incomes, average age, etc etc.
Isabelle
Hi Gene-
In clicking on “Lesson 2”, it only gives me the buttons for the quiz, previous lesson, and next lesson.
How can I access the information for Lesson 2 as I have not listened to any of it yet?
Thank you in advance,
Stephen
Stephen,
1. Make sure you’re accessing from a computer not a phone
2. Log out, refresh, clear history, log back in
3. Try a different browser
4. If it’s still not working, reach out to support@ralacademy.com
Thank you,
Isabelle
During bids for renovations on a residence, a contractor asked if this project is considered commercial and stated if it is he must follow ADA guidelines. My loan is a commercial SBA, but does this older home need to follow ADA for adding bathrooms or half baths?
John,
This is not Commerical and does not need to be ADA compliant. You’re going to want it as close to ADA compliant as possible, but it does not have to be.
Isabelle
What do you do about keeping all residents comfortable temperature wise? In one home I visited, each room had its own AC/heating unit just like a hotel room so each resident had control of their own room temperature.
Thanks.
Frances,
You can do individual AC units but it gets quite expensive, it’s better to keep a central unit, have fans and blankets in each room and choose a temperature that meets everyone’s needs in the middle. But if you have the budget to do the individual, it’s a great feature and you can market it as well.
Isabelle
I’m in the process of refinancing my own residence in Texas and can take advantage of taking some cash out of the equity. Can you give me a rough figure of how much I will need to get purchase my first RAL and have it up and running?
Jan,
That answer totally depends on a bunch of different factors, so in short, no I cannot tell you here on this Q&A section how much you will need to get started. To give you a generic answer, we have some students who are in for $300k and others who are in for over $2mm. So it REALLY ranges on the home, which of the 3 routes you’re taking and what capital you’re bringing to the table, what Reno’s need to be done and many other factors. We would LOVE to go over this with you individually, so when you graduate be sure to schedule that next steps call with Kellen so we can walk you through your specific deal, thanks! Enjoy the course,
Isabelle