All Forum Posts by: Steve S.

A realtor told me around $30/month is not uncommon Does that sound remotely possible for a rental worth $150,000? I guess since I'd have no belongings or property in the house maybe it is.

Someone i talked to said there's no way they'd let someone in their property without a background check.

I see no way this is financially feasible or time feasible.

I would assume you background check anyone you're going to get into a lease with.  

Is this typically done by a management company?

If not, how do most people do this?

What does it cost?

What are you typically willing to accept regarding credit score?  What other criteria are you looking at in doing a background check?

Thanks everyone for the responses

1,300 sq located in Waco 3 bedroom 2.5 bath Built in 1965 Previous owner rehabbed it so its move in ready $120,000 Would rent for $1,100 Taxes 2.8%

thanks for the great feedback guys. This property is in the Waco, Texas area. 

Buying my first rental. What's generally expected to provide in the rental? Should I put a refrigerator in it or can I expect the tenant to bring their own? Washer dryer? What about other appliances? What is generally expected / required of me, the landlord?

As some of you may recall, I'm buying the house I grew up in as my first rental property. My parents have taken good care of it but it's a 38 year old house. They've been empty nesting for about 12 years. That said, there's little things here and there that, if I were selling it, I would certainly fix. However, since I'm going to be renting it, should I invest the time and money into doc long it up to the same level? For example, it was probably painted about 11 years ago. If I were selling it, I would paint it. Should I paint it for a tenant? Other things are on the outside of the house that could have some wood replaced here and there. Roof was replaced about 7 years ago. It's a 30 year roof. So my questions are more general in nature about how much to pour into something that someone is probably not goi g to take as good a care of if they owned it. Another argument would be to fix it up that way when they leave I know exactly what they destroyed and can keep some of there security deposit.

Leasing, not leading. Couldn't figure out how to edit title on the app

As some of you may recall, I'm buying the house I grew up in as my first rental property. My parents have taken good care of it but it's a 38 year old house. They've been empty nesting for about 12 years. That said, there's little things here and there that, if I were selling it, I would certainly fix. However, since I'm going to be renting it, should I invest the time and money into doc long it up to the same level? For example, it was probably painted about 11 years ago. If I were selling it, I would paint it. Should I paint it for a tenant? Other things are on the outside of the house that could have some wood replaced here and there. Roof was replaced about 7 years ago. It's a 30 year roof. So my questions are more general in nature about how much to pour into something that someone is probably not goi g to take as good a care of if they owned it. Another argument would be to fix it up that way when they leave I know exactly what they destroyed and can keep some of there security deposit. Thoughts?

Originally posted by @Joe Villeneuve:

Originally posted by @Steve S.:

Originally posted by @Joe Villeneuve:

So let me see if I understand the bottom line of what you're asking here.

You want to know if you should:

A - Pay $100k on this property and have one property or,...

B - pay $1500 for expenses on this property and use your $100k to buy more (DP's)?

Yes

 My question wasn't looking for an answer.  My question was hoping to show your choices, and I would hope, it would also make obvious the correct answer.  Please read the two options (A or B), and I would hope the answer to the question of "which one is best" would be fairly obvious.

 Clearly you re saying option B is preferred so one could acquire multiple properties