All Forum Posts by: Don Daniels

I bought it for my all rentals after the flood. The last two storms tell me that no food map can predict with any certainty! I narrowly escaped flood damage on an uninsured rental where the residents were boated out. Several on the street were flooded, and many in the neighborhood

A stripper pole. Also, in the same (vacant house) found a sleeping bag and alarm clock. Needless to say, the current owner was quite surprised to see that! The house next door was painted bright pink!

Depending on your market, you can optionally list that property as "occupied, instant cash flow, investors only, please do not disturb the tenant." When you have a contract, you can show the house. This way you only show the house to serious buyers, and reduce the traffic. Investors know they can back out if it doesn't pass within the option period

If you didn't own this property already, would you buy it as a rental? I think the answer is no, so sell and use your equity to buy several cash flowing properties. Around here I could buy 3-4 and net +$2k/mo plus equity capture.

You need a "manual underwriter". I haven't found any that will do this for investment properties. You'll probably need to get the property out of your name, as anything you are liable for, counts against your DTI regardless of who's paying

Starting the eviction process will either get them to take action or it won't. Either way you gain clarity on your next steps. Also, in the future, don't accept partial payments. If you do want to evict, a partial payment complicates things. Lastly, consider collecting rent online in the future. You can add late fees automatically and there are no excuses for things like, arranging time to meet, or not having another check...

Start the eviction process. They are sending clear signals that you aren't top priority

Get with a local real estate investing group. They an teach you how to rebuild your credit, among other things, then help you start investing for little to nothing. As was mentioned by many on this thread, there are no new games in town

Try cozy.co. Prospective tenants can apply for $39 and provide you at credit and background check in the process

Move on