All Forum Posts by: Jerry D.

Well the rent is 850 so i figured it was ok?

My late fee is 50 dollars first day and twenty each additional day. I have them mail it and as long as it is postmarked by the third it isn't late.

Thanks my lease states all payments go toward fees first and then rent. Therefore they are technically still owe rent if they don't pay both.

When do you make tenant pay the late fee when you charge it? Do you let them carry a balance and pay by the next months rent? I am specifically speaking about single family. So if the pay the rent but it is late and they owe a fee when is the fee due by?

Thanks I will do more research

Ok thanks. I get that for rent I was more speaking to projecting revenues and expenses without any current tenants. But I guess that would be a good place to start.

Found a unit that is in foreclosure and has no tenants so no noi. How would you project income and thus price and cap rate.

Thanks that is what I was thinking as well. I even offered a 500 dollar option period so if I didn't buy the house he would keep the 500 dollars. It is just a weird situation I have never dealt with and wanted to see how yall would handle it. Thanks for all the good advice.

Thanks guys talked to him at length he does buy them in bulk. How does that even work? He says he bought this one and 15 more. I looked the guy up he is legit. Owns at least 50 other properties. It would rent for 900 to 950. If ac works and I get it for 45 k then another 3. To 5 k for fix up and closing depending on if I do tile for the whole house.

Ok thanks for the input