All Forum Posts by: Jennifer Rysdam

1 is the rule, but anything above that is great! A lot of it depends on your market.

Yes, you can definitely do that. I would recommend trying to find a 3 or 4-plex if you can afford it though. That way if a renter moves out you won't lose all of your rental income. In a year purchase another one and move into that one. It's a really good way to get started fast. Good luck!

Do a search on BP for this same question. It is asked a lot and you will find a lot of good advice.
Having said that. My best advice would be to purchase a 3 or 4-plex and live in one unit and let the rent from the other units pay most, if not all, of the bills. You can get a low down FHA loan as long as you agree to live there for a year. In a year find another one. It's a great way for a young person to get started fast.

Best wishes! :)

Mine either pay it online or drop it off at my bank. Many like the bank option because they can pay with cash.

I would call the police and turn the texts over to them. They know the law and what to do about him. You would hate for him to follow through with his threats and hurt someone and you didn't do anything to prevent it. Hopefully he will be arrested and you can evict him before he comes back. Good luck and be careful!

-Don't make friends with the tenants. This is a business. Keep it friendly but professional.

-Stick to the rules in your lease. No excuses. If they are late they pay the late fee. You are not their parents or their bank. If they can't afford their rent they need to get help from the people in their lives, not their landlord. If they ask, just say, "the lease says _____" and we have to follow the lease.

Good luck! :)

I would pick the first that is qualified. Many will inquire, few will actually apply. I got 6 inquiries on my new listing yesterday. I send them to my website for more pics, qualifying information, a virtual tour, and an application. I doubt I will hear back from any of them. Lots of people WANT to move but then decide that they can't afford it. Good luck!

Great suggestion from Matt. I also want to add to make sure the coils are cleaned off. I have had tenants move out and the coils were just gross with dust bunnies, especially under it.

I direct everyone to my website to get more pics, qualification information, a virtual tour, and an application before I even move a muscle. If they can't do that then they aren't that interested. Once the email or text me the application I go through it, do a preliminary background check on our MN convictions website, and then if all checks out I'll ask if they'd like to see it before we do the background/credit check online. So far it's working great and keeps me from spending time on people who would never qualify anyways.

@Jason Black Thanks for the info and link. @Michael Wagner Thanks for the info and the heads up. I hadn't even thought about summer possibly being just college students. Makes sense though, especially since they are currently full.