All Forum Posts by: Patrick Donovan

So I know there have been many discussions about this, but they haven't been for almost a year so I am wondering what is your go-to credit check websites. Something that is a one time thing since I only have one property I don't want to be paying a monthly fee since ill only be doing this once this year. Thank you!

What's with all these little pocket/purse dogs! Ill take my husky any day! Congrats Brandon and Heather. As was said before you two truly are an inspiration. As a young investor I am definitely looking up to you and making it my goal to be close to where you are when I am your age.

As for the floors, in the duplex I just purchased the floors were all refinished before I bought and I absolutely love them. By far one of the best features in the place. So I say if they look pretty decent already then maybe buff and poly them to freshen them up a bit but I would definitely go with the hardwood over carpet. Being a pet owner and living with a 3 year old (and her mother who is almost as bad) have shown me that carpet is not a good idea!!

Finally closed on my second overall property but first one on my own! I am living in a duplex doing a little house hacking !! As we we're moving in my brother came and told me someone wanted to talk to me about buying the house. I was offered 15,000 more than I paid but decided since It took me so long to find this one and I am completely in love with the place I want to stay. Call me crazy but I think it's for the best.. So this might not quite be a success story but this is the first of many more to come so I considers that a success so far !

You do have to live in it for at least one year if you go with the FHA loan.

I think we talked about this the other day and I said that I myself am a construction worker and server. My girlfriend is a server as well and has a two year old daughter and we still don't have a problem making rent. We are currently renting ( closing on my first property next week) and have never missed a payment and haven't given landlord any grief. I guess what I am trying to say is just because they have jobs that most of the time are looked down upon from a financial standpoint, doesn't mean they would be bad tenants.

If dad is willing to cosign and their income meets your criteria, along with everything else like criminal background, good credit and everything I don't see why not. Even if they are to break up, dad is on the lease and probably won't want his credit ruined, so he wont miss the payment or he will make her find a roommate to make they payment. If she is in school and working that right there says she has some responsibility.

The property I am buying is about a block away from a university so I am attracting mostly college students. Therefore I am basically having to count on cosigners for my tenants.

I never got an application back from them so I didn't have to deal with it. Good luck though! 

Welcome shawn! I am about an hour and a half west of you in Dubuque, IA . Not sure if I can be of much help since I am so new to this real estate thing but let me know if I can ever help!

My lease says 35 per pet per month...but I'm a sucker for animals so if they have two pets I might let them slide with just the 35. Don't be like me always stick to your guns but I found that no matter what pets are going to ruin something wether it's carpet, trim, doors , etc. I work construction and went to a house to replace a floor that wasn't that old but they never cleaned up when the dogs peed on it. It wasn't even close to being able to save and smelled awful. My moms cats sleep in her bay window at home and all Of the woodwork is completely ruined because of their claws. There are a million things that can and some probably will go wrong with animals. I love them to death but they are not the friendliest house guests

I actually just asked a RE agent that question a couple days ago. He told me to hightail away from it and find a different job. That being said I would love to hear some experienced people talk about this topic because I am also still interested in pros and cons. 

I was told it is more work than it is worth with such low commission and not the biggest market where I am located. Also with 225 realtors on the MLS competition is fierce !

I have two things that are going to completely contradict one another. 

I myself am in the construction business during the day and am a server at night and i would absolutely love to have myself as a renter! If I could I would duplicate myself a million times over to rent to properties.

 That being said, from a landlord point of view I would definitely be extremely cautious if dad will not cosign. I would probably pass on them. Just some food for thought !