All Forum Posts by: Jevon Shaw

Don't go by Zillow rent estimates. Go by what actual people are listing their comparable rentals for in your area by searching through the Zillow rentals section. It seems to make financial sense on paper based in the info you've given. Try to be as buttoned-up about it as possible from the get-go meaning:

Standard background checks

Try not to rent to friends and family

Stick to what you say regarding your policies, ie late fees assessed on the 7th day, only one pet allowed, etc.

These things will help your rental stay profitable despite you being new and a little inexperience. Hoping the best for you!  

Welcome to BP, Bernard!

Congrats on taking the your first steps, Joshua!

I saw this as well. Very interesting. This could drive more stable, family oriented tenants to suburbs like Spring and Katy.

Great write-up, Alan. I'm actually currently in this position. I broke down and allowed pets not too long ago and saw 6 more inquiries in just 1 weekend. I don't yet have a reason to regret it - I'm crossing my fingers in hopes that it stays that way!

You could try cash for keys, but that could sour the relationship if it hasn't been soured already. If y'all didn't set an exit date when you first agreed in Oct 2022, it may be hard to put her out soon. You seem to have compassion, so what you may do is establish a written agreement for 3-6 months to live in the room. Then remind her when you're half way there, then 3/4 the way there. Finally if she's not out in the time agreed upon by both of you, and you really don't want her there, you may have to evict.

As Bjorn alluded to, the particularly fishy part is that he is trying to put pressure on you. As if he's trying to sell to you. I'd pass.

Great reminder for the ex house hackers, Kenny! That PMI removal can sometimes take a deal from good to great!

I agree with @Bjorn Ahlblad. If you don't know what all to consider, for example, depreciation, expenses, and special tax benefits for properties in target/improvement zones, you should lean towards getting a CPA

It's probably due to high mortgage rates. Is leaving more equity in the deal so that the monthly payment is smaller an option?