All Forum Posts by: Amanda Hoening

Midwest heritage will do them on their commercial end... However they do want 20-25% generally.

I always carry my .380 on me. I have a permit of course. In addition I carry a pepper spray gel. The gel form will have the least chance of splashing back on you. The stun guns that people call "tasers" I don't recommend as my only choice personally. They hurt, but you have to be super close to the person. It also doesn't incapacitate them so you can get away to safety.

Glenn McCrorey I know that Cedar Rapids a fairly high crime rate, is this the city officials way of attempting to chase individuals out of town? No landlord will rent to them because no one wants to pay the police the "naughty tenant fee??" They can't buy a house.... Because you can't get a mortgage with their non w2 job? Effectively they can't find a place to live so they leave the city? I'm out in western iowa so I wasn't even aware of Davenport doing this, I will have to try and read up on it.

I wonder what their reasoning is? Is the city over run with empty apartments?

Josh,

Since you're young, and kind of in the prep stage, I would start by making sure you are saving some money every month.  Pay your savings account like its a bill.  limit your monthly expenses.  The more cash you have, the more flexibility you will have when you are ready to take action. 

Listen to all of the podcasts, over and over.  Don't skip ones that you think don't pertain to you.  There is good information  in each and every one of them, even if its not the area you are wanting to work in.   

Where I am you have to have the tenant call in and put them in their name.  It has been my practice in the past not to allow them to move in until I have confirmed they have them switched.  I don't personally like to have utilities turned off, even if its for a day or two. 

I have heard the saying that if you're not a little embarrassed by your offer, your offering too much.    

William Sackett Welcome! I am also in the Des Moines area. You're much further along then I am.. As I am currently waiting to close on my first deal! I love to see people from our area on here!!! You will love the site!

@Ciprian L. 

Good to know about the two year rule.  I actually don't plan to buy a primary for at least three more years.  Thank you! 

Thank you for all of the responses!   I am looking into the duplex route, however in my market they are actually all over priced.  

I have heard they will only consider 75% of the rental income.  So if the rent was 650, they would only consider 487.50?  Or is that something that just varies lender to lender?

@Andrew Lanoie 

 I would love the contact information on your lender.  Thanks!