All Forum Posts by: David S.

Insurance? A bit more if it's specifically landlord insurance and you want additional coverage. Or is that already factored into your tentative loan?

I have one...seeking alternate options.

Pay a real estate agent in that area to drive around for an hour and take notes. They have showings and networking, so that takes them all over the place anyway. Win for you, win for them.

Please share your thoughts...

If I want to borrow 28k from an individual looking to invest his/her funds somewhere, over a 2 year loan period, do you think a 6.5% return is enough to get someone interested? Should I alter the percentage amount or loan period?

If it's in writing, then it's her responsibility. You can always send her emails with copies of the bill, save your communication history, and bring her to court for the owed balance after she moves out. That's only if you don't want to press the issue while she's living there.

Regarding rent raises each year, it depends on the area. I'm used to Boston, where people understand the booming area. Other areas and tenants might consider moving if they're in situations when their rent keeps increasing, but not their salaries. At least consider giving them 3 months notice before a rent increase. It gives them time to consider their options and either accept the change or move on.

Could be wrong, but last I heard VA loans don't allow anything more than a duplex. They do this to emphasize housing opportunities for veterans, instead of cash flow opportunities overall.

Not sure if they've loosened the restrictions over the last few years.

I know the general threshold is a portfolio that's been active for at least 2 years.

Does anyone have any resources (or links to past posts) for lenders who do loans with new businesses? Meaning "business credit" not "owner credit" I'm looking a 4 units for around 100k-120k. and can round up 40% down payment.

Thank you in advance for any help or suggestions.

Just make sure the tenant is on the hook in the contract. That way if the organization's guarantee falls through, you still have the tenant to go after in court. It's the tenant's responsibility to come up with the funds, so that program has to make sure they're in agreement with him/her. Whatever that requires...it's on their end.

Rent payments from HOPE South Florida could only be guaranteed if they're willing to sign a lease themselves, which they probably aren't. Whatever they claim or promise during there meeting is worthless unless you get it in writing and even better if it's notarized.

But hey, if it's a legit program, then that means easy money!

Simplisafe has a ton of options that don't require a contract. You just need internet up and running.

http://simplisafe.com/home-security-shop

Never heard of it. But this is the first result that pops up on the internet.

http://www.scamsgalore.com/than-merrill.html