All Forum Posts by: Brandon P.

We have an application for one of our apartments with 2 tenants. Our minimum requirement for credit score is 580. 1 of the applicants credit score is 558 (this person makes majority of the income) and the 2nd person has a 661 credit score. Should the 580 minimum be an average of there scores? Or per person? 

Based on the employment records the jobs thst afford them the apartment are new. And one of them has a DUI. 

What else should we be considering ?

Would you accept this couple as a tenant? Why or why not?

Thank you!

Texas law has certain requirements, as I'd assume most all states do.

Do you have any links to the type of locks you have used for the front door, back door and door leading to the garage?

Do you typically pay someone to install?  I'm thinking of doing this myself and trying to determine what this is going to cost me.

Hello BP, I am currently looking at markets that I may want to work and live in once I graduate college but I find that in every market that I look into there is only 1 or 2 duplexes in the area. I would consider renting by the room but since I have a girlfriend and we plan on living together right out of school I think that is out of the question. What can I do to find more small multifamily properties or will more properties become available as rates drop and more people are looking to sell their properties? Thank you.

Hello Everyone!

My name is Andrew. I am 24 and married to my amazing wife. I also serve in the Georgia National Guard so I have access to the VA loan. My dad was always a pretty savvy real estate investor, mainly specializing in vacation rentals and I remember going to tour 10s or hundreds of properties and loved it. I currently work for a luxury building materials company and my commute is about an hour and a half each way every day. I decided to use this time to listen to audio books on real estate investing so I started out with the guide to investing in real estate, and I am currently on the guide to flipping houses.

I would love to hear from some of you guys who have already started their journey (or maybe are well into their journey!) on how you got started, what mistakes did you make, how much money do you feel a person must start with, what did your first deal look like, and which method of real estate investing did you do and what are you doing now (rentals, flips, etc.)

Thanks!

Andrew

This is a difficult question to answer because having a midterm rental doesn't equate to a certain room count or configuration. What determines that is the guest type you're going after. For example, most people think about marketing to travel nurses when they think about midterm rentals. They also assume the rent-by-room option is the best way to go because they can get multiple nurses to share a home so they want to buy a larger home, thinking they'll rent out all of the rooms and make more money. This rarely works out. Travel nurses almost always prefer their own space. They don't travel in packs and those who do travel with someone else almost always want their own private bathroom and they don't want to pay very much for their space. So if you were targeting travel nurses, I've found 1/1s and 2/1s are the most popular options. However, the field of potential MTR guests is so much broader than just travel nurses alone. Digital nomads, corporate travelers, construction workers, relocations, families experiencing an insurance claim and many, many more types of travelers are looking for furnished accommodations and they each have different requirements for what they're looking for. There is no one size fits all in the MTR space. If you already own a property, try to match it to a traveler type. If you're looking to buy a property, do your research first to find out what type of travelers are coming to your area so you can create a successful strategy. And be sure to research your competition so you know how crowded the field is and what the standard is for your area - this is information you can't afford to overlook.

Should I start my first deal with a single family or multi-unit compex. 

should I fix and flip?

Should the units cash flow with me living in one side if it's a multi unit complex