All Forum Posts by: Matt Anderson

How do I get a 30 year mortgage for a rental? Thought it had to be a commercial loan?   

Hello BP,

I am working to start over again on my real estate adventure after a rough experience with a business partner.  He found all the deals, so I am starting over new with how all of this works.  Right now I am reading everything I can and saving up some money to put in the fight.  My plan is to find a better partner and investor to work with.  

I want to work on purchasing my first multi-family before the end of the year and look at doing one flip before next August.  

I look forward to hearing your thoughts and suggestions. 

Matt.

I have a tenant that moved into a 4plex when the Cov-id issue first started.  She is refusing to pay the rent now. She and the boy friend, who is not on the lease and just moved in are causing problems with the other tenants. I pay for the water and electric on the 4plex as well. She at some point bought a pool (not a kiddy pool either) and filled it up with water from the property.  

How do you get rid of someone like this when the State of Illinois won't let you evict yet. The other tenants are wanting her gone as well. 

What do I do?  And yes she has a job and passed all of our screening requirements. 

Have you ever had them screw it into the window and crack the window or seal in the window?

Do you provide window A/C units in your properties if they don't have central A/C? 

I own a couple single family homes in the St. Louis area near a dental school. I have been thinking about renting out the bedrooms rather than the whole house.  The house is a 3 bedroom 1.5 baths kitchen living room, family room and rents for $900.00 a month.  The thought would be to rent out the bedrooms for $400-$500 and include the utilities in the rent.  The tenants would get an entire house and utilities for $400-$500 a month. Wondering how the leases are worded for this type of rental though. 

Give me your thoughts and experiences.

@Amy Aziz Thank you for the information.

Has anyone hired a virtual assistant to answer calls or emails regarding available properties I have open for rent and schedule times?

I have a handful of rentals we are having trouble meeting up to collect the rent and my business partner has fallen ill. He can not make it to all the rental to collect rent when they are available.  I am looking for a form to be able to give the old tenants an option for how to pay. example, pay through cash app, deposit rent money in certain bank account or pay through ACH.  I would then build this into my lease for new tenants. 

Thank you,

Matt