Property Management News

While landlords in Fayetteville, N.C. were none too happy to learn they owed money to the city for the “privilege” of renting out properties there, the biggest surprise came from city council members: they didn’t know about the law, either. According to a report in the Fayetteville Observer, the bills to landlords and property managers came from an auditor hired to track down unpaid fees for the city.  The auditor decided to apply an existing ordinance that allows for “privilege fees” on some businesses to rental property owners and managers.  Only after the phones lit up did the city council get involved. The city has never before collected the fees... Read more

by Lex Levinrad I have heard many questions over the years from students about whether or not it is really possible to buy real estate with no money down. The most frequent questions I get are from mortgage brokers and realtors. Since mortgage brokers are by definition trained to fund a loan based on bank requirements like 20% down payments, then by definition anything else seems to be beyond the scope of their possibilities. It has been my experience that many real estate professionals don’t seem to understand the concept of no money down deals. What Is No Money Down? Firstly, the definition of no money down does not mean no money down. It simply means none of YOUR money down. It... Read more