All Forum Posts by: Account Closed

try any blue chip stock that pays a dividend.  It won’t fluctuate much and you’ll get a little from the dividends.  Or a piggy bank works too.  Look into a 12 month CD. 

I had done 100 per pet non refundable pet fee.  And probably going forward will do a monthly fee on top of it.  I don’t accept anything but dogs.  And honestly would just rather not, but given the options I’d rather charge the fees, I only have tile in all rooms So carpet isn’t an issue. 

I don’t do flips so my buy and hold repairs are different.  My payments are either after the work is completed or at a draw rate that is in my favor.  It isn’t my job to cover their employees salaries.  Just like it isn’t their job to cover my mortgage.  

Looks like a hard lesson learned. Lawyer up and/or do whatever the law will allow you to do on your own to recover the money.  

Best of luck and sometimes the hardest lessons are the ones that we can recover from. Learn and move on.  

Typically i use a 

Minimum credit score (your type of property will dictate the min for you). 

Income 3 times the rent. 

No evictions

No cats ever

No dogs unless they pay a non refundable fee and monthly pet rent. (If you make it enough it will discourage them from having them)

Iron clad lease to ensure rules are followed and rent is paid 

Automatic rental payment is required. 

They Must not exceed any housing requirement for the city county or state (too many people or adults or whatever in the unit)

For credit score I look at things like past due balances, what they were for and when they occurred.  No one thing would be a show stopper. But a pattern of going nuts at Christmas on a credit card then not paying it off is a big red flag.  

Heck you could flip a coin at the end.  No matter what they are on paper or even in person, you are dealing with people and people are unpredictable.  I think of it as a odds game.  I stack the odds in my favor and hope for the best.  Having multiple units helps smooth it out over the long term in my opinion.  

Given the three random choices, have you been to all three or any of these places? I can only speak to winter garden, but that specific town I wouldn't consider for a rental. It has lower end homes in it, however the majority of the growth is new home builds. The cash flow isnt there. As far as STR in that town IIRC there is a restriction to having them and most HOA's don't allow them in their neighborhood. Orlando as a whole is a different animal. You looking for single family or multi? 2-4 or 5-? There's a lot more variables then what a census tells you when it comes to where to buy out of state.

It depends on what your goals are.  How do you want to make your money in real estate, wholesaling, flipping, buy and hold?  Figure out your strategy and that will determine how to use your money the most efficiently.  Best of luck.  

I would just move on to someone else.  If a person called me and a previous landlord provided my information to them, I would be livid.  

I would never provide information regarding current or past tenants.  Heck I would provide any info for someone applying to rent a unit I own.  

that’s a great way of thinking of it all.  After all this is a business (or should be run as one) and as such you plan for the worst and hope for the best.  

In almost (pretty sure it is all) all states owner occupancy trumps the previous persons lease.  They would have 30-60 days to vacate. 

Also does your state legally allow such a long lease?

Why do they want such a long lease?  There’s always some reason behind it.  

I just started using cozy.co   It seems to be good.  I know there’s tons of options out there.