All Forum Posts by: Sachin H.

Thanks Ray. This is not a class A property but a suburb and I would say class B (definitely not a D). Typical rent range is 1200-1500 and all 3 schools are 6+ rating.

Hey guys!

Looking for tenants for my first investment property in GA.  I have received 5 application so far and almost everyone has a low 500 credit score. Some had eviction history and I just rejected them but I want to know your thoughts on renting it to someone with 500ish score.  - part of me feels that if that person had perfect 700+ then that person would be a buyer and not renter and then other part says that it is better to leave the place empty than going through evictions.

Really appreciate your thoughts on this.

Thanks

V

Hi Guys

Finally I closed my first investment property and looking for tenants right now.  I recently received an application but the person had bad credit + more then 4 civil court records (everything related to evictions).  So my question is, when I reject an applicant

1) Do I have to give reason?

2) Do I need to have a reason? Or can I reject for just because I don't like the attitude?

I know it is my property and I can say no to anyone, but I remember reading somewhere that I cannot reject for no reason.  Is it true?

Thanks

@Tom Gimer. Yes mine is a traditional loan with 20 down.  . 

I asked lender to confirm and he came came back and said they can't accept my realtor as POA. LOL- This lender doesn't know anything and they already pushed the closing 3 times as he missed something each time.

Now my realtor is finding someone who is not involved with this transaction that can be my POA. Worst case they can send a doc to local attorney office and I can go and sign there. Not sure why they are not sending the documents to me and I could have signed in front of a notary.- seems like a requirement from title company. Huh

Thanks Tom.

My lender is okay with this arrangement.  Will this be any issue when I try to sell the property or in any other situation?

Hi Guys,

I'm buying my first investment property in Atlanta and the lender wants me to either give power of attorney to someone or be there in person.  I'm thinking of giving limited power of attorney (Only to buy on my behalf & for a specific time period) to my realtor.  Do you guys foresee any problem with this?

Thanks!!

Thanks guys!  I looked at NARPM and I see lot of good ones but some have terrible reviews on the internet and even though they are NARPM pro members!  How do you vet these companies?  I'm really new to this and need some help

Hey Guys!

I'm looking to hire a property managers for my first rental property in Villa Rica GA.  My agent has offered to do it but his main business is selling the property and not PM. They are currently managing a few and is charging full first month rent and no monthly fee.  Is this normal?  Since I'm an out of state and first time investor, I wanna make sure I'm doing the right thing.  Can you please help?

Thanks

Hello Guys

I'm new to this site and although I already own a property in CA where I currently live, but I'm first time investor and looking to buy a property in Maricopa AZ.  The property I'm looking for is around 150k and potential rent in that area is around 1000$ ( the agent and Zillow says 1200). The first year cash flow is looking neck to neck (roughly +70$).

Is this a good investment or am I too late to Maricopa game.? 

PS. I'm not a cash investor and I'm looking to put 20% down

Looking forward to hearing from you guys.

Thanks in advance.