All Forum Posts by: Jeff Garrett

@Robert Timm just be careful about the due on sale provision. You may also complicate any refinancing to the extent you need to pull cash out of the property. 

@Luis Salas have a solid tenant screening process and do not waiver

@Mike Lynch lawyer....all day

@Joshua Pagan negative..you need more liquidity. Can you partner up with someone on it? You gotta have reserves (and flood insurance apparently).

@Robert Timm my experience is for conventional mortgages where you are getting the most favorable debt you will need to take title in your personal name..and there’s nothing wrong with that as long as you properly insure yourself...portfolio lenders will allow (and sometimes require you) to take title in the name of an entity but the debt won’t look the same..most important thing is getting deals and getting started..

@Dulce Beltran buy assets not liabilities

@Chris May

Have you talked to a mortgage broker who works both with owner occupant and investor buyers? You need someone that understands Real Estate. You need a problem solver.

@Cameron Riley

Good advice given throughout this thread. You should run an equitable screening process and not run afoul of any rules regarding Fair Housing (whether federal, state or otherwise). You should also take a look at how you can make your screening process better. Each time you make a mistake go back and look at what you could have done differently. Also, trust your gut even if you have an individual that checks all the boxes. Again run an equitable process within the bounds of the law.

@Tyler Labelle This isn’t your tenant that you picked with your own screening process so I would notice her and get the ball rolling. Time is money on this one. Protect yourself legally.

@Joe Alford Agree on DISD.