All Forum Posts by: Beau Pearson

No I have her last months rent for Jan in advance rent I collected up front. So Jan is squared away. But she basically wants to use her security deposit, which is a full months rent to pro rate half of Feb, to give her more time.

I have a tenant problem question. Just a problem I’ve never encountered. I have a t tenant who has always paid, although mostly late. She keeps the place in decent shape. There are some repairs that need to be done however. Anyways, she told me today that she is leaving second week of February. I have a last month deposit and full month security deposit. Rent is 1200, so I have 2400 on deposit plus 200 non refundable pet security. She said I can keep her security deposit and pro rate the first two weeks of February, so 600 and then use the remaining 600 for repairs. She is month to month tenant. My thinking is this..January is perfectly fine. But February is kinda putting me in a perilous situation. Any suggestions?

I have a few SFR’s In south Florida. I just signed a new tenant at one with the rent being 1,425. It seems a lot to ask a tenant to come up with first, last and security with these rent amounts what they are. Any suggestions ???

If you had a standard of 600 credit score and two adults fill out applications, with only one having enough credit to qualify, what do you do?

Roger that, thanks everyone for the responses!

I am managing myself yes. Just two SFR’s. Thanks everyone! So sounds like SmartMove is an adequate program

Does anyone have any recommendations for tenant screening? I know about SmartMove through TransUnion. Any feedback? Also, if you have a married couple do you charge both an application fee? How does that work?

Hi folks. I need some advice. I have two SFR that cash flow. I’m considering selling one to pay off the other. Here are the figures: House 1 Purchase Price $110,000.00 20% down 30yr fixed 4.75% 3-2 CBS Estimated value: $197,000.00 Mortgage : $81,000 Rent: $1,450 PITI: 787.37 Vacancy/Capex/M&R 18%: $261.00 FCF: $402 House 2 Purchase Price: 131,000 3-2 20% down 30yr fixed @ 4.5% built 1983 CBS Estimated Value: $170,000 Mortgage: $99,641.00 Rent: $1350 PITI: $837.42 Vacancy/Capex/M&R: $243.00 FCF: $270.00 I’ve always been of the mindset to hold any income producing asset that produces cash flow, I mean why would you sell it? But I have my personal home paid off and like the idea of having a rental paid off as well. So I was considering selling house 2 to pay off house 1. Now, it’s important to note that I save enough free cash from my job to pay off house 1 within two years without selling any house. But I was taking into account where we are in the market cycle. Thoughts? These homes are all in South Florida. There is strong rental demand. But they are building quite a bit in my area.