All Forum Posts by: Nathan Vu

I just got an inspection done on a house I’m planning to buy to rent it out. The main issue is that the interior AC unit is old...installed in 1996 while the condenser outside was installed in 2017. The cooling output doesn’t get too cold due to the evaporator coil doesn’t match with the condenser so it’ll have to run a lot more to get to the temp inside. I’m sure the inside unit will have to be replaced eventually and it’s gonna cost 4.5-6k to replace the inside. And I just found out this house was previously back out because seller wouldn’t replace the interior evaporator coil (which basically replacing the whole inside unit). With that being said, would you back out or try to negotiate down the sale price? How much would you negotiate? The roof of the house is 1.5yo so that’s something I wouldn’t have to worry about.

Hi everyone. I'm still kind of a newbie at this and just trying to see how everyone's doing it. When you're doing your routine inspection for a SFH, is it better to schedule your visit with the tenant being at home? Or it doesn't matter if they're at home or not as long as you give them an advanced notice? What about 2-4 units?

@Joseph Cacciapaglia

I'm in the process of buying a SFR this month with 30years financing. So I won't have any available cash for down payment for another rental. I just feel that this monthly 1.8k a bit high on a house that I'm not making money on and the interest is roughly $350 right now per month. I still have 7 years left to pay it off if I just continue to make the monthly payment without paying additional principe.

I bought my house 5 years ago for 250k at a fixed rate of 3.5% for 15 years. Currently I owe 111k in principle because I was paying additional principle for like a year. My monthly note is about 1.8k including escrow. Is it the right move to do a cash out refinance for 30 years to lower my monthly payment and use that equity for down payment for a SFR or 4plexes to rent out to create equity/cash flow? I have my improvements on my home that brought up the value to 270-280k.

Hi everyone. I'm in the process of buying my first rental home at the end of this month and I'm so excited and nervous at the same time. I'm planning to use Cozy.co for applications and I'm still unfamiliar with it. So if I have a single family of 3 adults wanting to rent the house, do they all need to apply separate and pay the application fee? Or you only need 1 person to apply and pay 1 fee and they can list who will move in?

Also, I have downloaded a general lease agreement from Brandon Turner and it looks really good. I'm planning to use that and edit a little here and there. But does anyone have Louisiana lease agreement they want to share? I just want to make sure I didn't miss anything or whatnot. I'd really appreciate it. 

Thanks in advance!