All Forum Posts by: Nate T.

I've borrowed from a lot of private lenders and never heard of them asking for a deposit. They are lending money to me, not the other way around. They send the money to title. They would have no access to my money even if there was a deposit involved.

I would call a few real estate brokers in the Cleveland area that have similar listings and ask them what the cap rates are. Then call a few commercial loan officers and ask the same thing.

It depends on your state laws, but a trust account is often not required if you are managing your own property. If you are managing someone else's property then a trust account should definitely be used.

I checked with a Mesa property manager and they did not know of any restrictions on the number of unrelated occupants.

Thanks for your input @Zack Niemeyer !  Regarding the number of occupants, I know that Tempe has the rule about 3 unrelated occupants, but this property is in Mesa.  Do you know if Mesa has any similar rule?

@Account Closed That is a good point about the checking the rules on the number of residents. It is fairly well known around here that Tempe AZ only allows 3 unrelated parties in a SFR. But I haven't found any restrictions for Mesa. If anyone knows of a rule in Mesa, please let us know.

I have a 5 bedroom house in west Mesa near Alma School & University.  Tenant is moving out today. I was considering renting to students, but I'm guessing this isn't the best time of year since it's in the middle of the semester.

For those of you that rent to ASU students:

Is there any demand during this time of year?

What are the best places / methods to advertise to ASU students?

This deal is a no brainer if you can get the 30 year fixed at 4.5%. Stop over analyzing and buy it. 

The county assessor's site should have the owner's name, and possibly their mailing address. For the phone number, you can go to various skip tracing / people search websites.

The above discussed solutions are 3rd party account servicers that charge between $10-50/month. I use one called Weststar.

But if you're asking about online software to track your own notes, I have not found a good option for that. If anyone else knows of one please let us know.

There are a number of desktop software solutions. I've heard the most mentions of one called Note Smith. But I haven't used it myself.