All Forum Posts by: Kimothy Bynum

i like to use avail its very simple and straightforward for me and the tenants 

I would especially since you'll be away for such long periods of time. I house hack and I do it all myself. But I still have time to manage it 

I'm currently listing my unit and I waited until it was ready and clean. I had to take pictures and I wanted it to be in the best shape. So i would wait till its ready to show.

Quote from @Adah N.:

@Kimothy Bynum

I like open house style showings and tenants like it too. Put as much detail as possible in the ad, respond to people who contact you with date and time of open house. I set the schedule in advance 1 or 2 week day evening, Saturday morning and/or afternoon, Sunday afternoon and/or evening. 1 hour window each. Anyone who wants to view outside open house will have to turn in an application, I will show if they meet requirements.

 I should've did that if they want to see it they have to put in an application. Since i posted I had my open house at set schedule times and a lot of people that were supposed to come did not. And the other day i had 3 or 4 appointments and they didn't show either. I didn't confirm my appointments on the day of and I think that was my mistake. what do you think?

I put my security deposit in separate account it gains some interest but i make sure its a bank thats in the state i live in.

I would give him another screening even if you did one when he they first moved in. Things could've changed basically the whole application process. Paystubs and all of it just to make sure he is qualified to pay for things on his own. 

I've been gaining a lot of interest for my rental. I have showings on Saturday and Sunday. I already got an application. When should i stop accepting applications. And should i meet with the people that actually apply? If i do meet with them what does that meeting/interview kinda look like? I would really appreciate the help!

I just listed my unit and got a good amount of people that want to see it. How should I schedule showings? I live in the property so it’s not a hassle to show. How everyone schedules showings?

Where is your credit score now? You can apply for an FHA loan through banks that offer it. But if your credit score is not good enough to be approved then yea you should improve your credit score first. Don't feel like your in a rush everyone moves at a different pace. Houses and deals will always be there. Set a date for when you plan on being ready to invest and work towards that date.

Quote from @Eric Bilderback:

Bad *** baby!  I think house hack go big if you can do a 4 plex maybe.  Keep buying one home/plex a year as your primary home with conventional financing.  And when you and if you can buy more properties on the side.  I hear David Greene say that and I think it is the soundest advice out there.  I did that to an extent but I could have loped some time off the W-2 if I would have done that.  I think it is fun to start with where you want to be when you retire and reverse engineer.  5k a month 10k, 20k etc.  Then it will help you see how much you will need own/do.

I would love to house hack a 4 plex. I jumped right into a duplex but if a 4 plex comes up and the numbers look right and the unit is pretty decent i would have to jump on that if the mortgage people don't give me a hard time. I'm starting to form my number and how many properties i need to acquire to reach that number and it looks very doable. I was listening to biggerpocket rookie podcast and they were talking about how you dont need to own hundreds of properties. That really hit me because you don't you can have a few that produce good cash flow and you'll be set if that's what your looking for.