All Forum Posts by: Jonathan R McLaughlin

Why on earth would you cancel the open house until the funds are in, they have signed your lease , and the background process is complete? Until that’s so, it’s not rented. You can just say there is a deposit in and tenants are going through the background check but people are welcome to apply. If the prospective tenants asked you to cancel the open house without certified funds I think you are headed for trouble.

I’d definitely pass—good possibility it’s a scam, and even if it isn’t an outright scam imagine trying to collect from a 90 year old out of state co-signer who will likely develop a severe case of “oh your honor I didn’t know.....” if there is any trouble!

Hi Bonnie, I'd be glad to take a look at the specifics of the property if you want to PM me. We have bought some things nearby in MA.

Excuse me, and the PNS of course

Why not just pay your attorney to review the LOI? SMe attorney can be your closing attorney. A total of two hours of time maybe, well worth it and not nearly as much as a brokers commission.

Look up the VA codes law on bats and habitability. It can be a nightmare believe it or not, to the point where a professional tenant can make your life hell. Seriously, get educated quick.

I would suggest cities are never stagnant:; look beneath the growth numbers to see who is moving out or in...lots of baby boomers being replaced by young people with smaller families? Probably good for spending and quality and very eventually appreciation. Seniors aging without replacement or migration out of all demographics? Yikes. Just examples off the top of my head, lots of other factors. Look to change of use and repurposing. You see this in the big cities in NE with triple deckers turning into condos. Forget the report, but I think microcities and their pretentious cousins tertiary markets are poised to do well, but you have to pick the right ones. Kinda like the railroad made some towns winners and some losers. Look for infrastructure and transportation investments, arts/culture and internet access

location: the only thing about a house you can't change

This is one of those questions where a closely reasoned, convincing argument could be made in support of almost any outcome...

My own 2 cents for the short term is its likely one more constraint on the Fed to keep their tightening on its current pace rather than accelerate.

@Brad Rondeau @David Hildebrandt did you account for debt service in that total return? Leaving behind the cap rate (no debt service input) 

I imagined net rent was without debt service and the 4K difference was from actual expenses