All Forum Posts by: Jenna Lee

@Kyle Atans Pentagon Federal Credit Union does it but they won't if u have more than x amount of houses (which includes your primary) I would call them.

@Ceaneh Alexis Atlanta has gotten very expensive, but I still think there is still alot of room for appreciation. What are u looking for cash flow or appreciation?

Curious, so what if their lease terms expire? Are we forced to renew a non-paying tenant?

@Anthony Newbold

Seems like you've already done your legwork, and you may laugh at my advice, but as emotional and stressed you are over this, if it was me, I would just hand it over to an eviction company and let them deal with this. I wouldn't let these criminals (they are stealing) ruin any more of my health or mood.

I had a tenant that literally ripped my entire house and stole everything... I think if it was a property that I was personally managing I would have been frustrated, stressed... etc, but honestly I wasn't so much.... my bank account hurt quite a bit and it put me back quite a bit..... but at the end of the day, I didn't have to deal with it... things like this discouraging investors from pressing on Or giving up on Investing I think is way more costly than the actual damage.

If this property is so frustrating to the point of you feeling like you wanna do something that will impact you for good, just cut your losses and let another person deal with them. At the end of the day, I believe God exists and they will pay for it at some point in their life. No reason trying to have them pay for it ourselves. And besides, you are investing with houses, these people are renting... they obviously are not doing well financially. Even if they make a lot, it's about how u manage them...... so just move on.... and know they will pay eventually.

I always keep some 0% APR Credit cards to pull cash out when/if I need them in an emergent situations... As an investor, it's kind of nice to have that flexibility. I just make sure to have a plan to pay it off as 0% APR with credit cards are only for 1 year and after that the interest rate is horrendous. If you don't have credit cards with 0% Promotion.......If your credit is decent, you can probably find a lot of banks that will loan you money on personal loan.(High interest though like 10%) I would call around.... and don't try to borrow from one bank as your gonna have hard time finding one bank that will loan you that much of unsecured loan. I would just borrow from couple banks. Credit unions are usually alot easier to work with. Personal loans don't have closing costs so borrowing from couple banks shouldn't cost you any money.

If you had a house with some equity, the best thing is to open a HELOC....

@Nikki Closser OMG thank you for sharing. I know people say we should screen our tenants throughly but how do u do that with first come first serve? I also asked my property manager if we can rent my place to a section 8, and she said that's considered discrimination and I can't specifically say it's section 8 either......

Hi

I am in the process of looking for primary resident and was thinking about getting a fixer upper. I am little nervous as I have never done this before (except for one of my rental where I had a property manager pretty much handled the whole thing.. so can’t count that one and it was at a different state) 

And because of horrendous contractor cost in Seattle area I am wondering if I should do this.... very nervous. But I am kind of up for the challenge. I have been wanting to flip/brrr a rental house...so why not do it with a primary? Can you guys recommend some good contractors?

1. siding 

2. Roofer

3. Electrician

4. Kitchen remodel 

5. Bathroom remodel 

I also would love to seek professional designers guidance so maybe an architect or a designer? 

Also, what’s a reasonable rate in Seattle for handy man? 

Thank u 

Hi

I placed a renter using a property management company and now I need to renew their lease. Does anyone know where I can get a good template? :)

Thank u

@Steven Wilson can you share with us the name of the credit union?