All Forum Posts by: J Chad Davis

@Lindsey Spivey I think - if true - letting you know that your offer is less than the current owner’s debt against the house is very relevant in that the seller is EXTREMELY unlikely to sell for less than he or she owes. Even if the math makes sense, humans are often hard-wired against accepting a loss on something large they’ve purchased and a short sell may not even be possible for this owner (e.g., acquiring approval from the holder of the current mortgage may be a problem)

Dylan,

As someone quite a few years on the other side of medical school and residency, I’d be willing to discuss with you. Send me a connection if that would be helpful. 

Chad

I find Rentometer and local online listings to be very helpful in determine what actual market rates are In my area

@Chris Hanisco This is a good opportunity to teach your sons the difference in people who seem nice versus those who actually do what they say they will. The tenant is already a problem and you haven’t yet taken possession of the property! Your obligation is to your sons and yourself and this tenant’s behavior will cost your sons money; they are relying on you “feeling bad” to prevent you from forcing them to do what they should. Personally, I would anticipate having to evict them or giving notice to vacate at end of the lease, depending on timing and local laws. Allowing a problem to persist is not the lesson you want to teach your sons and that’s far more important than the temporary discomfort of addressing the problem head-on.

@Pat L. My hometown in Texas has over 24 inches annual rainfall and where I live now - also in Texas - has about 44 inches annually, which feels like a lot to me. What kind of weather do you have? I’m wondering if I could feel any wetter!

@Jeremy Woods Get a good counselor. Try this book: Nothing's Wrong: A Man's Guide to Managing His Feelings https://www.amazon.com/dp/1573249157/ref=cm_sw_r_cp_api_i_QGUtCbA83WJV4

Make this a higher priority than your real estate portfolio. Your relationships with others are far more important than getting all the deals you want.

@Chuck Kramer I just installed some Arlos cameras last week. Can I ask what kind of battery life you’re getting?

@Paul Sandhu I’m a physician and drive cars for 15 years before I buy another. I’m not sure the car-as-proxy is a reliable guide.

@Michael Greenberg How do you deal with families vis-a-vis the minimum age requirement? Do you just not rent to parents traveling with children?

@Alex Saleeby I think there is a lot more to a successful investment property than school district