All Forum Posts by: Antonio Esquivel

PROS : 

1. Your rent is more guaranteed with the housing authority paying a portion of rent.

2. You can usually get a higher rent amount per month

3. Less turnover

CONS: 

1. Harder to raise rent

2. The housing authority can take a while to send you the first months rent

3. Inspectors can be a pain

The only rule I have on my budget is making sure I save X amount every month. I know what my fixed expenses are, and I give myself an allowance for things like gas, groceries, entertainment etc.  I am pretty happy with it. I consider myself to be a typical landlord. I find a deal, put 20% down, fix it up, rent it out, and save even more. 

My advice is to put at least 20%. It saves you the mortgage insurance and will help you down the road by having good equity after owning several houses. Banks have a hard time lending more than 4 mortgages to an individual but if you show substantial equity there are banks that will give you a shot.

Do you know if the seller is going to report the 2nd loan? If so I would think most banks would just sum up the monthly payments when calculating your debt to income ratio.

Hello Mallery,

I am also a Realtor/Property manager in Omaha. If you ever need a 2nd opinion let me know. I love looking at deals. I can also connect you with various contractors. Right now I am need of a roofer if you know any.

Because they might split up, just let her move in withough being on the lease. Unless he really wants to. If things go south they will both be reasonable for rent and damages which can cause BOTH of them to not do anything. This happens all the time in apartments and usually tenants don't even tell you, they just ask for another key.

Hi Katie!

I'm a local omaha investor and realtor. I can help you find a great deal if you are interested! I'm highly experienced in property management and would be more than happy to help. 

I think sometimes people work that 9 to 5 so long that they forget there is a different way to live. Collect rents every month and having a profit? ? That would seem be to go to be true!

I would also like to go to this meeting! 

"Junker" properties can work well. A good option can be fixing up the property enough were it's sec 8 suitable. As long as the neighborhood is OK. You want a pocket were people take care of lawns, have a decent clean curb appeal, see no broken windows, etc. If you do this and screen decently you will have reliable payments made to you. Not to mention you can usually rent higher with sec 8 than conventional because sec 8 pays a large portion of someone's rent.