All Forum Posts by: Dan Hatch

For an application I use Cozy.com . I have a direct link I create on the website that I will email them along with my minimum requirements which are:

Able to verify 3x monthly rent

Background check 

Current and past landlord references 

I also secretly email each applicant a link, this way I can get their email and search it on Facebook to check photos and posts. I'm specifically looking for pics of were they live, drug activity, gang signs etc

They click on the lnk and fill out the application and pay directly to the website. You are then sent an email with a link to their completed application.

If all looks good I have them send me a copy of photo ID, paycheck stubs (or proof of income) and I personally call landlords. If all is good we meet to exchange money and sign the lease etc

Hope this helps! Good luck

I use erentpayment.com to set up automatic rent collection via email. The tenants can set up auto ACH or click on the link in the automatically generated email that sends out the first of the month and pay via smartphone or computer. They also allow you to automatically add late fees 

I'm in Florida, but I have heard TX is similar in landlord/tenant laws, check with a lawyer. 

My lease has a clause that states that if I am unable to get in contact with tenants with phone number provided and visiting the property and I think it is vacant after 14 days and a post a three day pay rent or quit notice on the front door, the property is abandoned and I am not responsible for contents. Florida law also says there cannot be evidence of anyone living there, such as fresh food etc (utilities are a "grey area")

I have done this once before with furniture, a gas grill etc. but I would be concerned with the motorcycle. That may fall under a different category 

Good luck! 

Just had tenants move out and when I went to inspect the property, among other things, I could tell that a dog was locked in the back room because of the smell, dog hair, and scratches on the door. They said they have no pets and the lease does not allow pets. My pet fee is $25/month. So my question is, in Florida: is it legal for me to take $300 ($25/ month for 12 months) out of the security deposit for a pet fee? There was also extra cleaning and painting involved Thanks!

I charge $25/ mo per pet, must be spayed or neutered and none of the 12 "vicious breeds"

I'm open most afternoons and evenings, 8th is fine with me 👍🏼

welcome to BP, I grew up close to Minneapolis but have been in Florida for 20 years now,  I have heard the Minneapolis market is hot, is it? 

I invest in NW Florida, Pensacola, Milton/Pace, Gulf Breeze/Navarre area. There is a strong military economy as well as tourism. My properties are mainly 3-4 bedrooms and 1.5-2 bathroom brick homes that rent for $825-$925.

In this market you can buy distressed and fix for a total investment of $45k-$60k in middle class areas. Its more of a linear market and not high rates of appreciation, but good for cash flow. You may want to google search or zillow search some areas, some are better than others, and some areas you may want to stay away from, as with any market. 

Originally posted by @Barry Christopher:

I am having the same problem here in Pensacola, FL. I am currently researching but the ones I've spoken to do not finance under 50k. Keep me posted if you hear anything regarding what we're looking for and I'll do the same. I've only been in Florida for a half year so this entire process is new to me. Good luck.

 I have been doing cash out refi with Lisa Hudson from Synovis (coastal bank) in Pensacola, 30 year fixed. One was $45k and currently doing $65k at just under 4% 

PM me if you want her contact info

I would be interested too. I try to get to the gulf coast reia on the third Tuesday of the month at Golden Coral, but a small group over coffee (or beer) would interest me too.