All Forum Posts by: Alice Goodson

Quote from @Sam Rexford:

Hi BP'rs, I don't have a good sense of how the interest rate cut today will affect me as a new investor looking for my first deal... will it start to drive up prices of homes in areas i'm looking at as money gets cheaper or am I off base?

Agree with the earlier response.  As an investor you realy can't afford to deal with all of the changes in the Feds. Create a buy box and work that buy box under any circumstances and you will be fine. 
Alice -

Quote from @Vivek Kumar:

Quote from @Alice Goodson:

Quote from @Vivek Kumar:

Quote from @Bill Hampton:

Quote from @Vivek Kumar:

I am sorry not sure what you mean

 @Vivek Kumar

What he means is that you should have a checklist for tenant qualifications. For example a tenant has to meet certain qualifications to be able to rent your property: income, credit score, evictions, rental history, criminal history, etc. If you don't have specific prerequisites, you should put some in place. 

Well from my list I dont see any thing negative.  Credit score is acceptable, he has no evictions, have enough income to cover rent comfortable. 

but then i am here as it's useful to learn from others experience for this kind of profile and background that I have no experience with.  

Hello Vivek,

Don't exactly understand the question. In fact you may want to be cautious of the inquiry since many states have discrimination laws. If he meets all of the criteria what makes you inquire about his military status impacting him/her as a tenant? Just wanted  to let you know simply being a veteran may not be the best thing to deny a tenant. 

Hope it works out.

Alice -
Heritage Rentals LLC

 I already rented to him. But the question was to just know the unknowns like any special accommodation requirements I may need to prepare my property

Great! So unless the veteran expressed a need for special accommodations during the application process and you do not have that you should be fine.

Alice-

Quote from @Vivek Kumar:

Quote from @Bill Hampton:

Quote from @Vivek Kumar:

I am sorry not sure what you mean

 @Vivek Kumar

What he means is that you should have a checklist for tenant qualifications. For example a tenant has to meet certain qualifications to be able to rent your property: income, credit score, evictions, rental history, criminal history, etc. If you don't have specific prerequisites, you should put some in place. 

Well from my list I dont see any thing negative.  Credit score is acceptable, he has no evictions, have enough income to cover rent comfortable. 

but then i am here as it's useful to learn from others experience for this kind of profile and background that I have no experience with.  

Hello Vivek,

Don't exactly understand the question. In fact you may want to be cautious of the inquiry since many states have discrimination laws. If he meets all of the criteria what makes you inquire about his military status impacting him/her as a tenant? Just wanted  to let you know simply being a veteran may not be the best thing to deny a tenant. 

Hope it works out.

Alice -
Heritage Rentals LLC

Quote from @Emory Clayton:

I have a LTR that I've been asked to rent for 6 months. They are wanting the utilities to be included, along with washer/dryer, however as stated in the listing, and repeated to them, the house is not furnished and only offers washer/dryer hookups. They are wanting to move ASAP, which from my research is a red flag. I did ask if they would need the house furnished (in an attempt to find out what they were really looking for/needing), she said they would prefer the house be furnished, however they would just buy furniture if they had to. 
This is all seems really odd to me. They could be, perfectly fine people. However the request, duration, needs, seem odd to me. 

Out of curiosity I looked up what monthly rents were going for similar houses on AirBNB/VRBO, and the cheapest I could find in my area for similar property (furnished however) was $1400 over what I am asking for my LTR. I feel like I would be willing to entertain this if they weren't needing to move in ASAP, and they brought their own furniture. But those 2 things are turning me off to this. What say you?

 Hello Emory,

I guess, like you, the potential tenant's approach is a bit concerning. Did you advertise the place for rental? If YES, THEN did you make it clear that this was a LT lease rental? Did you clearly stipulate that it was unfurnished? If you did I would be concerned that a renter would contact, you and ask you to change the conditions of your advertised rental. AND rush you into decision leaving very little time for you to investigate the risk involved with this request.

My VOTE, proceed with caution. Do not rush to failure.

Good Luck

Alice -

Quote from @Spencer Cuello:

Looks like consensus says they are not worth the cost, thanks all!

 Could not agree more with my counterparts. Wasted cash. I dumped every warranty I had because it never resulted in a replacement solution for large repairs. Also note they will never pay out more than 3K and with HVAC or other large repair item that is not worth paying for it for years.

Duck em!

Also purchased on Audible. Multiple books: The Book on Rental Property; The Book on Investment Property Investing; The Book on Investing in Real Estate with No (and Low) Money Down; Start with Strategy; Real Estate by the Numbers; and Finding and Funding Great Deals. Can I please have the Bonus Material code for these? Thank you in advance.

Quote from @Katie Miller:

Thanks Russel! @De'Mille Morris we can resend you the bonus content link. Check your email today!

 Can you please help me also. I have purchased multiple audible books such as Real Estate by the Numbers, Start with Strategy, The Book for Rental Property, The Book on Investing in Real Estate with No (and Low) Money Down, and now I am reading Finding and Funding Great Deals. How can I get the bonus materials for these books. I purchased the through audible. Thank you in advance

Quote from @Jamie Parker:

Quote from @Alice Goodson:

I have multiple properties 100% paid off and now I am looking to start purchasing properties in a more aggressive manner. I am seeking a lender that understands these types of purchases and can streamline my loan process. I currently use Rocket (formerly Quicken) and they have been great but now I think I need someone local. Any suggestions in the Huntsville, AL area?

 There is a bigger pockets featured lender that may be able to help. Minimal documents. Any residential Single and Multifamily Under 20 units  NO Mobile/Manufactured homes, shopping centers, mixed use or industrial.

 Hello Jamie, I worked with @Devin Peterson .. he is the best. He is such a proponent for the BP community that he actually recommended I seek out local assistance for a deal I was working and it is working in my favor. I am really excited to be in the forum. Thanks for reaching out.

Quote from @Alice Goodson:

Looking to get an external inspector to take a look at a potential investment property. Is there a site I can use to see who is available in my area (Huntsville, AL)?

Thanks BP

 Please disregard inquiry. Found it! https://www.nachi.org/certified-inspectors/browse/us/alabama

Looking to get an external inspector to take a look at a potential investment property. Is there a site I can use to see who is available in my area (Huntsville, AL)?

Thanks BP