All Forum Posts by: Jacob Fisher

Hello,

Been a landlord for about 5 years now. Mostly with great tenants. Until now... Should of never signed the lease with them but I did.

He owes me $750 plus damage deposit( yes dumb mistake). I just put the pay or notice on his door.. however I just noticed he was recently arrested for meth use. Didn’t show up when I originally searched the court records... with his drug use(possibly cooking in my rental) could I get an emergency eviction and get him out quicker?

Thanks.

@Eric Veronica Do you use your equity as down payments on properties or cash?

The 86k was based off the price of the 3rd would be at 40k*

Hello,

I just made an offer on my 3rd rental. My first two I paid 20% down on two 3 bedrooms

1st rental I paid 37000 for at 4.3% interest

2nd 30000 for 5% both 15 year terms. I rent both for $600. Will be raising rent soon.

The third I’m hoping to get under 40k but listed at 49k. I asked the bank for this one, if I could do a 30 year. They said they only do 15year loans on rentals. He offered me to combine all 3 mortgages together for approximately 86k and using some of my equity as a down payment.

Would I be able to use some of my equity for a down payment but keep my loans separate? My first two loans should be getting close to being under 20k. I was thinking about paying my lowest mortgage off after I purchase a third rental.. So I don’t owe as much to the bank and improve my cash flow.

Please give me suggestions.

Thanks.

Wow 350 that’s impressive! My goal is to build up enough cash flow with adding additional rentals(15-20 rentals paid off) to one day being able to afford a vacation rental and renting that out until I’m at retirement age. Thank you for the advice.

@Thomas S. Update: she paid me with her tax year for The rest of 2016 and still renting from me, so it worked out fine.

Hello, I currently have 2 rentals. First 2015 purchase was for 36k 3 bedroom I rent for $600 a month Second in 2017 I purchased for 30k and rent for $600 I’m looking to buy my third as soon as I find a nice one at a good price. How many properties are you at and how long did it take to accumulate that amount? When do you recommend to start snowballing your loans to pay off quicker? Thanks

This is what I decided to do I'm having the boyfriend sign a agreement that he will lose his deposit. I'm having the girlfriend sign a new lease with a cosigner who passes a credit check. Before she signs we agreed she will need to bring a check for 5 months worth of rent to assure me I will be getting paid. What do you think of this approach?

Rents 600 per month

Jim Adrian Her monthly income would be close to 3x rent. She told me she could pay 4-5 months upfront to assure that I would be getting paid from her. I thought about agreeing to that if she's able to get a co-signer. There lease ends 12/1