All Forum Posts by: Jason Reynolds

Actually that helps A LOT!  We do want to unload the property since it's been on the market for awhile. There isn't a lot of action in a small town and we have had to drop the price by about 10k. The lady we are talking too wants to do a contract to deed. But we don't own the deed. We still have a mortgage on the property to pay. We don't "Technically" own the property the bank does. Can we still do the contract to deed? I want to do a rent-to-own since I know more about that and it seems a little more beneficial for us. The lady does only want to do the contract to deed for 6 months though. She has to move some money around before she can apply for a mortgage loan. Can she do that? Because the contract seems like she has to pay it off in full by the end of the contract time limit.  Thanks for your help! 

What is the difference between a Rent to Own and a Contract to deed? Which is better for a seller?

Are there any websites you frequent when looking for real estate deals? Do you use Trulia or Zillow or are all the good real estate gone by the time it gets on these websites.? Do you have a friend who works as a Realtor and tips you off to houses before they are listed on websites? Any tips for how to find good deals on good homes before other people?

I've been looking around Zillow a lot lately but I have been wondering if its the best way to find good deals.

Yes I saw that! It was very helpful and informative. Thanks for the tip!

I found some but I have another question. What process should I use?

List the add

then perform the pre-screening interview (aka let them know what I'm looking for and see if they want to continue.) 

then if they want to continue have them pay the application fee and see if they qualify?

if they qualify send them the lease? Does that sound about right?

I'm getting ready to put a place of mine up for rent for the 1st time. My question is what documents do I need to have ready? Also what documents do I need to get read?

I'm guessing a rental application? Something that gives me all their basic info so I can run a background check.

A pre-screening checklist so they know what I'm looking for in a tenant? Something that tells them the requirements needed to be able to rent the property, like monthly income requirements, no pets, security deposit, etc... so people don't waste their time paying the application fee?

Then if their application is accepted (by me) I can provide them with the lease? Do I have it about right? 

Also if anyone has any of these documents I can use as an example, or just straight up use that would be great! Any and all help is appreciated.

I have never done one before and am looking to rent my single family house. How do I go about doing these checks for possible tenants? Looking for a website or something that will do these checks for me. Something I can enter the tenants information into... pay a fee and get the report back ASAP. How do you go about doing your checks?

I don't have a ton of money and probably don't have a huge need for a yearly plan to some company or website.  Maybe if down the road I acquire more rental properties but for now one time checks should do it for me. Also I can charge a $50 application fee correct?

Just saying hey and looking around. Tips on what to start reading? I've been looking at some properties. My big question is how do I get financing? I already have a home loan, 4 kids, and a decent paying job. But I constantly see places I would like to start with but all require down payments. How can I get the money to start purchasing real estate? I have a friend that is interested but we both make meager pay checks... so would like to know what our options are.