All Forum Posts by: Jon W.

absolutely positively NO! Do not buy the deal.  Take the 40k and buy another deal in a B area.

If the appraisal is 350k that's it. The guys wife is probably getting all emotional over the house and overlooking the 20k. Husband is prolly saying jesus h christ 

Just let it go for 350 dude. Dont bury the guy.

Do you need a broker's license in Pennsylvania to have a property management business for long term tenants.

I know you can do vacation rentals now. Not sure about long term rentals.

Do you need a broker's license in Pennsylvania to have a property management business for long term tenants.

I know you can do vacation rentals now. Not sure about long term rentals.

buy a duplex. Live in one side and rent the other. Best way to get experienced I think on a small scale. 

After 2 years fannie Freddie banks will count rental income as income towards qualifying for more loans. You will qualify immediately after being qualified for a loan to offsetting dept to income ratio.

Although, you might find managing a non sophisticated tenant is a huge stress on your main squeeze.

listen to the podcast from Grant Cardone. "How to turn taxes into income "

Property management is a business. Let us not forget this.

They never have your investment property in your best interests. Its directed to only profit the management company.

Raising rents 25$ a unit is going to cause a many phone calls and emailing. It might even call for a trip to the property from the office pm.

They probably didnt raise the rent because of that reason. Also hoping you just go with that.

So...

You really have to ask yourself?

Do I have a 2nd option for a PM or should I go back to self management?

All pm companies will do this.

Sounds like you need to go to a lender that doesnt do traditional financing. The underwriting for the loan isn't Fannie Freddie. It's a in house lender. Corvest finance does 25% down no income verification loans. They go off of the dept coverage ratio of the property to underwrite the mortgage but I beleive you will have to expect to come up with 25% down.

Denver is about to pop. Go outside the city and put 3% down on a 2-4 unit. 

You  should find out if the tenant actually has some kind of interest to go after.

You can hire a lawyer and pay him/her however much they ask.

But after the judge makes their decision to put a judgement on the tenant for the amount of rent unpaid they actually dont even have to pay it.

It will hit their credit score and that is it and as we all know people who rent dont really care about their credit.

I also dont beleive you can evict a tenant in NY if they are currently paying. So it sounds like the tenant is deliberately moving the chess peices in their favor actively.

I would raise their rent and bury them until they fell apart naturally.