All Forum Posts by: Ben Scott

I'd select one or two that have the best opportunity for appreciation and rent them for 12-18 months to alleviate the cash flow issue.

I would echo what @Samuel Eddinger said regarding normal wear and tear. The spirit of the deposit is that the tenant will return the property in the same condition in which it was found. I would keep receipts on whatever it costs you to clean up and remove personal items and then deduct that from the tenant's security deposit.

I'm not sure how California law works but in my state of Oklahoma the first step is to get a judgement against the tenant in small claims court. Once a judge signs off on the judgement and the damages, you can hire an attorney to garnish wages or place a lien on any personal property of the tenant and/or co-signers.

I'd leave the trees, especially since they are not close to the house. Trees create good curb appeal.

For your first deal, I'd recommend buying a duplex for a house hack. Taking on a flip with minimal experience could be dicey.

Is the $55 fee something that you set or is that a Turbo Tenant application fee? And are you priced relative to comps? I'd be patient. If a tenant really wants the house, he or she will take the necessary steps to fill out the application and complete the process. Don't chase down people and ask them if they received the app, are they interested, etc. Approach from a position of strength. My two cents.

A house (say 1200 sq ft, 3/2) in metro OKC in a good school district will cost $225-250k and can rent for $1500-1800. Investors can achieve the 1% rule in the dicey parts of town but you'll be dealing with tenant headaches, vacancy, etc.

If its your maiden project, I'd be concerned about the distance from the property. I agree with the wholesale option or hiring an agent to post on MLS.

I'd think return of the security deposit would be voided since she is breaking her lease. And correct, if you use the deposit and the last month's rent, you have no recourse if she trashes the place.

I'd agree with the slippery slope argument. Review your state's landlord tenant laws and enforce any measure regarding non-payment of rent. Just to establish this is a business and you're following all state laws. After all, failure to pay rent is a violation of the lease.