All Forum Posts by: Account Closed

@Bill S. That's a good point. I myself believe having the stainless steel appliances would make it easier to rent the place. @George Paiva made a good point about getting getting the ss appliances from craigslist at near half the cost. I also think a home warranty could be added just on case.

@Shawn M. Good point I've never priced out the ss look. Have you ever experienced appliances being taken by tenants?

@Adam Greene I tend to agree with you about being overrated. I usually go with black appliances and to date luckily I have not had any appliances stolen or damaged..but I've heard of stories of appliances being stolen.

I was recently asked about my opinion in having stainless steel appliances in rentals to which I really did not have much of an opinion on the matter other than as an agent I rarely see it rentals. I want to pose that question OK here to see how many of you have these in your rentals and why or why not. The question was raised by a client looking to rent townhouse in the DC area for about 2100-2300, just to give some perspective.

@Michael Heisterkamp Personally I have to agree with @Michael Smith . I'd much prefer to take the 30yr and use the extra cash flow as extra payments to principle or as an opportunity to find another good deal, when one presents itself.

@Andrew Tuquilar These programs are designed to uplift neighborhoods that have been hard hit or in some cases simply as a means of helping first time buyers. In today's market they require full documentation and you must meet a defined set of requirements (one of them being that you must have sufficient cash available for the unforeseen), but if you are able to qualify and can find a good property I don't see why you shouldn't take advantage of it. Good luck.

@Dawn Anastasi A deal is a deal no matter what time of the year it is. In my opinion it's always best to make an offer than it is to wait for the right reason. I will say that I do notice as the summer season wraps up, you will notice REO prices begin to drop, but that does not mean you have to wait if you see a good property in a good area. BiggerPockets just released it's investment tools, I would use those to determine whether a deal is worth the look. Good luck.

@Kenneth Huddleston Obviously you've have set some pretty high goals for yourself. I caution to make sure that not achieving your goals don't discourage, hence why it is important to set realistic goals. I commend you for diving in to learn a lot about the business, it's a very good start. However, I also would say, once you've learned what you feel is sufficient, just set a goal of trying to get through your very first deal. But again, don't let nothing stop you if those numbers are what you're looking for to live the lifestyle you want. Good luck and keep us in the loop on your progress.

In many cases, these require an arms length transaction which means you as the agent cannot buy the property yourself. My suggestion is to strike a deal with another agent in your office to structure the deal through. Also, putting together the contract yourself would require that you disclose your an agent, so something to think about.

Pete Tam Commonly in the state I'm from buyers will make an offer and get a general inspection done after the acceptance of offer. The offer is contingent upon an inspection being done on the property. In many cases, especially on regular sales, the buyer has the ability after inspecting the report to ask the buyer to fix certain damages or provide credit to the buyer. To save money, I suggest getting an accepted offer before paying for an inspection. I'll let others chime in.