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Updated over 5 years ago, 06/16/2019

User Stats

31
Posts
12
Votes
Takahito Torimoto
  • Rental Property Investor
  • Morganton, GA
12
Votes |
31
Posts

Lots of beginner questions (single family rental properties)

Takahito Torimoto
  • Rental Property Investor
  • Morganton, GA
Posted
I have a bunch of "beginner" questions relating to (mostly single family) rental properties:
  1. Where/how else can I find single family rental properties to buy if not through MLS/realtor? (As I hear there are cheaper/better places to find them?)
  2. Multiplex properties - as far as I can tell - tend to be in "bad" neighborhoods or lower income areas. Do they not exist in "good" neighborhoods?  If so, how can I find them?
  3. I hear banks are hesitant to give you a mortgage beyond 4 rental properties. Where/how are my choices after 4 properties? (My understanding is that the 4 max mortgages is only counting investment properties, not primary properties, correct?)
  4. What are the "specs" of the highest demand (single family) home for a rental (number of bedrooms, baths, 1 or 2 garages? Garage vs car port?) My understanding is 3BR 2BA - if you include the demand for "resale-ability"? Is a garage recommended for a rental?
  5. Is it worth converting a garage into a bedroom for a rental?  Is it worth adding a carport if a rental doesn't have a garage?
  6. What are the best type of tenants (that will stay long-term)? My understanding is a family (single or married) with kids?
  7. How are expensive (high end) homes a good rental? It seems the low-to-mid-range homes are better (in terms of cash flow)?
  8. What type of neighborhoods are best for single family rental properties? My understanding is neighborhoods that do not have low crime rates, and have a medium-to-high public high school rating.
  9. How often should routine professional (re)inspections be done for a rental?
  10. My understanding is that laminate for flooring is best in a rental. But should bedrooms also be laminate or carpet?
  11. What is the best way to sell a rental property with a tenant in it (but not to the tenant)?
  12. Where can I find/get a sample Move Out List to give to tenants (list of items to clean/fix before tenant moves-out)?
  13. Is it possible to find good financing for rental properties during high interest rates where you can still make good cash flow?
  14. This is here because I don't want to have 13 questions :-)

Thanks for any help :-)  Starting to (slowly) get into things... 

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