All Forum Posts by: Bob Willis

 Just a comment on this @Karan Kanekar - the title company does not dictate when you close. You can hold closing if all conditions are not met to your liking prior to close. Small claims won't require a lawyer, I guess understanding how much this is going to cost will determine whether to sue or not. Sorry you went through this. Best of luck.

Click on the Network menu item at the top of the page and click on Meetups - there you can search the areas you want.

I have tenants who pay via Zelle, Venmo, CashApp, checks and cash... It depends on the tenant and their sophistication level. The cash tenants don't even have the ability to text a photo to me, so there you have it. I have college students who use the apps mentioned. As to property mgt co in TX, not sure. Many states require you to be a licensed realtor in order to be a property manger (unless it's your own property).

Any opportunity for a side hustle dedicated to specifically funding your real estate efforts?

Hey All - I live in Nebraska. I am currently getting ready to move out of state and I have a rental I own free and clear here in Nebraska that I do not wish to manage from OOS. I am considering selling it with owner financing. Can I finance the sale of this property I own without being a licensed mortgage company? Or should I consider rent-to-own? The problem I see with rent-to-own is that I am still the landlord and if something goes wrong the call me to fix, which is the exact situation I want to avoid. As a note - there are NO property managers within 40 miles of the town I am in. So that is not an option. Any thoughts? Thanks - Bob

@Helen Jiang - what is your level of experience when it comes to real estate? Are you currently an investor? As @Nicholas L. said a property a few hours away is easier to deal with than flying cross country. You can put your eyeballs on what is going on (rehab, quality of property mgt, etc) If you do not have the right team in place as an OOS investor you could have an unpleasant and unprofitable experience. Just search these forums for threads describing the challenges. Best of luck whatever you do. 

Is there any opportunity to hack your SFR you are currently in, do you have room to do this? Also, I believe there are mortgage options that do not require 20% for a primary residence, even if it is not your first purchase (but one of the mortgage experts can give more info on that). If you can hack your primary, generate enough revenue from that you can then find another property to invest in.

 Hey @Staci Russell - a point of clarification. Whose rules are you trying to follow relative to conforming to the definition of STR? Is there some rule you are trying to adhere to for some reason relative to a STR? Oh, and welcome to BP.

 @David M. - so what I take from this is, there is no issue with me using the property to live in, I will just NOT be able to use sec121 exclusion regardless of how long I live in the property because it was not initially a personal residence of mine, correct?

Thanks @Dave Foster and @Bill B. appreciate the knowledge!