All Forum Posts by: Amanda Larson

@Christopher Davis wow! That's awesome. Thank you so much for the post... encouraging! It sounds like I may need to do some research on househacking. Stay in touch, and keep up the good work!! 

@Timmi Ryerson Absolutely! I'm going to do a veeeeerrry thorough screening process. As a recruiter at  a large staffing firm, I'm no stranger to the background screening process. I will definitely be implementing criminal, credit, references, verification of employment, income... the whole works! (social media snooping)... 

I like your tip about inspections every 3 months. That's a really good idea! You'd  most likely have to write that into the rental agreement, I'm guessing.

 awful! Given that you're in FL, how do you like that  market? Are there still some hot markets? 

 I would love to stay connected with you. If you could PM me, that would be  great. Thanks! 

Thanks @Deanna McCormick and @Dick Rosen I am happy to hear that my hometown state is  landlord-friendly. That moves MN and AZ to the top of my list! :) @Doug McVinua

@Joel Owens Thank you. I would never say I'm going to occupy a property unless I plan on occupying it. The reason I was asking about financing options is because I'm considering my options. I wanted to know if there were any 5% down financing options available for non owner-occupied investment properties because I truly did not know. It makes perfect sense that lenders require more upfront for investment properties. And thank you both for clarifying. :)  

Thanks for explaining that further to me @Chris Mason

Here's a great article about financing a rental property. 

https://www.moneyunder30.com/get-mortgage-for-rent...

Thanks, everyone! I'm interested in MFR and I'm fine with living in it, but that obviously only works if I buy locally. However, putting

Another question - @Chris Mason let's say 75% for MFR. What if a motivated seller accepts $85,000 for a property that's appraised at $100,000. that's probably not going to happen with a financed deal, I'm guessing. Maybe all cash, quick close, but anyway. For arguments sake, would the LTV be based off the appraised value ($100,000) or the purchase price of $80,000?

:) 

Hi guys, 

Another question! I'm in California- where I hear has the WORST landlord friendly laws. It sounds miserable. If anyone has any horror stories, please share! even though it will probably scare me and add to my fear of owning a rental property in SoCal. I'm wondering which states are most landlord-friendly? I'm grew up in Minnesota so I'd love to buy something there. I also have family in Arizona so that's a somewhat close-by option... Then there are other states I've been considering based off of Kathy Fettke's Real Wealth Network-like Ohio, Alabama, Florida and Nevada. Anyway, I encourage and appreciate users to share any stories, thoughts, or experiences they have. :) Someday soon I'll be able to pull from my own experiences.