All Forum Posts by: Hunter Fitch

I see it on Zillow but no price listed?

High-end properties might be into it but I'd say the vast majority would be turned off by the idea.

My wife always tells me,"no, is an answer".

Not sure of a solution but wanted to relay my own experience. I'm working with an owner that wanted out of a property. The bank (BofA) told the owner their loan was assumable so he quit-claimed the deed to me. Well, when we went to the bank to have the loan switched to my name (I'm now the only person on the deed) they claimed the loan was not assumable. Long story short - the bank fully knows the owner quit-claimed the property but has never called in the loan and I've been making the payments for over 4 years.

I've got a tenant that was evicted (over 30 days ago) that left some personal property at the rental. They burned me for about $1000 in unpaid rent and utilities. Now they are asking for the items back. Can I legally withhold the items and demand payment for them?

My personal home loan is with Quicken and when I've talked to them about an investment property I'm looking at they ALWAYS say they require 20%. You are probably better off with another lender and I say that LIKING my loan with Quicken :)

The BRRR strategy only works if you get an amazing deal on the BUY portion. Essentially you have to purchase a property at or below 70% of market value (which is done all the time - you have to know where to look). When they say "100%" of their money out - they mean the money they directly invested in the property, the down payment and rehab costs.

The ACH deposit was pulled back 19 days after it hit my account (which was the 24th of the month). I confronted the tenant about why she had her bank pull back the transfer and during our heated conversation she claimed her bank gave her the option to pull back ALL of her transactions which would have been the deposit and 3 months rents! Luckily she didn't opt to do that. She ended up living in my home rent-free for one month (also didn't pay her utility bills) before moving out as I gently told her she needed to move along. My only saving grace was that I got a full month's rent deposit from her which she'll obviously never see.

I used one of these online companies that run background checks and collect rent from tenants. I won't reveal which one - but suffice it to say there are many posts about this company on these forums. 

No matter how 'hard' it may be to collect a physical check from a tenant, I'll never use one of these online services again for one simple reason ACH transactions are VERY simple for a tenant to have their bank reverse - leaving you holding the bag. I realize its not the 3rd party's 'fault' but the function of the ACH transfer makes it too easy to get burned. 

Just my Two Cents for anyone out there thinking about using one.

Probably a dumb question but I've never signed a lease and tomorrow I have my first tenant signing on our first rental (yay!). Do I need to have 2 copies for each of us to sign? Will one copy do? Thanks in advance.