All Forum Posts by: Dairon Ruano

@Jonathan Frith Thank you for your input, it helps a lot!

@David Hanson thank you for your advice. I really appreciate it!

@Todd Rasmussen 🤣🤣 yeah man, I've been coming up with the most ridiculous scenarios in my head, because I'm sure someone here has had some experience with it. It'll help me a ton down the road.

@Todd Rasmussen thanks! I'm just trying to come up with scenarios, for once I become a landlord myself lol. I appreciate your help!

Hello! Let's say you have a tenant that has been great for the past year, never calls you, always pays on time, and you happen to like him/her; because they're so easy to manage. You've gone to this property routinely, to do inspections and they have taken great care of your unit. Unfortunately, they stop paying rent for whatever reason, and now you're having to kick them out. You don't want to hurt their credit report by filing for eviction, and instead you choose to do cash for keys (because you like them). HOWEVER, once you go to have that talk with them, you realize that they've trashed your rental unit since the last time you've been there. At this point what would you do? Would you still proceed with the cash for keys just to get rid of them, or would you file an eviction, and a lawsuit to make them pay you for the repairs?

Thank you for your time, I really appreciate it!

@Jeffrey Holst Hello fellow Chattanoogan!! Well, the reason I said that, is because I have in moved around the city quite a few times. I've lived in East Ridge, Redbank and also North GA (literally down the road from Lake Winnie lol). I kid you not, when I say that I've seen the most sketchy folks in these areas lol.... THANKFULLY I've been able to move up the ladder slowly but surely. I've also lived in the Ooltewah/Collegedale area, and it's a lot better IMO, especially Collegedale near Little Debbie McKee. It probably has a lot to do with the strong police presence there. Either way, like you said Chattanooga, is a solid market, I believe it has a very strong potential, even in those areas.

@Brenden Mitchum Yes, I'm really hoping it works out haha. Chattanooga is an interesting place, especially if you're the outdoorsy type haha. We're surrounded by some really cool mountains. Here is a friendly local tip in case you do find a deal in Chattanooga. Ooltewah, Harrison, and Collegedale are very desirable areas in this city; they've also seen lots of growth in recent years. Especially Ooltewah and Collegedale. I've lived here since 2006, and those are the only places I'd invest in, as a local.

@Brenden Mitchum Thank you for your response! I was just curious. I'm sure it'll be nearly impossible to get a deal like that, but just to be sure, in case it does happen. When I was a teenager I lived in a neighborhood that had a total of 12 duplexes. I also happen to know 2 owner occupants in said neighborhood lol. One of them is an older lady, and if I'm not mistaking she owns 6 on that neighborhood. So I'm definitely going to go there first, and see if they'd be willing to sell me one of theirs.

Hello! I am new to the forums, but I've been listening to the podcasts for over a year now.

My question is, let's say I'm able to obtain a sellers financing on my first property. Would this disqualify me from the FHA 3.5% loan, even if I didn't apply for a bank loan at all? Also, if it does not, how many seller financing deals can I do before I'm no longer eligible for the FHA loan.

I'm not sure if I completely missed this point during an episode, or if they've ever brought it up. Maybe they have, and I just cannot remember, either way; I'd like to know the answer. I've never bought a property, and I'm looking into *COMPLETELY* skipping single family as a first property, with the goal of house hacking a duplex or a (triplex preferably). I strongly believe, that this will allow me to grow my rental portfolio quicker, while simultaneously giving me more landlord experience.

Thank you for your help, I really appreciate it!