All Forum Posts by: David DuCille

 I just analyze the numbers, what it costs to acquire and maintain vs what it will rent for.  If you aren't sure about vacancy rate than yes adjust higher than you normally would and analyze numbers that way.  In my market (Tampa, FL) home prices are rapidly appreciating.  I'm starting to consider 2bd/1ba units for my next acquisition do to cost concerns.  I'm trying not to spend over 100k and its just becoming really hard to find anything.

 You know it's a violation of fair housing laws to discriminate based on familial status right?  Not saying it doesn't happen all the time but you need to be careful in how you present the info

 "I got a sectional, I got a sectional" #idontgivea****

so where is this at now?  how long did it take to get it re-rented>?

they are going to look in your EXACT subdivision for comps first and foremost and then and only then will they expand out to the surrounding area.  My biggest warning to you is that appraisers don't give nearly as much credit for updating a property as people think.  Finally, do NOT add a pool.  You will never see that money back.  They do add about 15k to the value of the home but it will cost you 30k to get one built.  I'm local in Tampa, feel free to.reach out if you need assistance

"Is there anything I can do?". 

Your answer should be yes, pay and additional $100 month rent and give an additional month security deposit sonI can have peace of mind that my investment is safe.

 Neither are people who make statements like that.

I disagree with A LOT of what others have said here.  I am ASTONISHED that only one other person mentioned what I'm about to say.

Additional security deposit. 

Lets face it people, bad credit and renters go hand and hand.  It doesn't make someone a bad person, just means they went through bad times.  Yes he has a criminal history, the good news is that it was from 4 years ago and you didn't find a whole big pile of new charges.  It's possible he has gotten his act together but because he has this stuff in his past, they know they won't get approved to live most places.  So yes, she did try to play you out to some degree but she is kind of trying to do right by telling you.  This guy could have just started coming over all the time and basically moved in and them not tell you.    So why not simply say, he can move in but he needs to come up with an additional 1 month rent as security deposit.  That way, if **** hits the fan you've got that extra months security in hand should they stop paying.  You say he's got a steady paying job making decent money so this shouldn't be a problem.  After one year, if they are causing problems, you can simply decline to renew the lease.  

Want to get really bold/creative?  up the asking price on the rent as well.  tell them you want $100 more per month to add him on the lease.

If it walks like a duck, quacks like a duck, you know the rest.   This definately sounds a bit shady.  At a minimum, get your butt out to see the property unless $6500 is an amount you are comfortable with possibly losing.

well I think part of that skew in the numbers is the banks are getting realistic with their list prices. I've seen so many beat up REO properties listed at essentially the sell prices of nice resale homes and all they do is sit and sit and sit for months until the bank finally reduces them far enough. In the last few months, I've been seeing REO properties priced more appropriately right out of the gate and as a result they are getting so much more attention. In fact, I'm working with a buyer on one now and the issue we are having is he has fixed it up and is now doing a cash out refi to get his cash back and buy more but we are having trouble getting the appraisal value up. some appraisers just dont' really know what to do with such a rapidly appreciating market. Lots of appraisal problems going on these days from talking to my fellow agents.