All Forum Posts by: Ron Hall

@Julie Marquez, I agree with Bob B, keep it simple and do a one year lease with a security deposit, in your example, an extra $400 to stay for full year really isn't motivating to most tenants, especially when you increase rent after month 6. While I don't believe it is your intent, the practice comes across as shady. Regarding the dog, always meet the dog before the tenant signs and lease and since the dog is sharing a yard with you, I would have introduced the kids to the dog before the tenant and dog moved in, also I would have charged a non refundable pet deposit.

I am interested in subject to financing, however, the due on sale clause, concerns me, ever though I have never head of any institution enforcing the due on sale clause. As I was thinking about this earlier, I have used subject to in the past to get properties before they make it to foreclosure auction, I was able to get the loans reinstated and then flipped. Why not try to take control of the property with a lease option instead.  I would consider the money I paid to catch the loan up as my option payment to the owner and set my lease payments at the the amount of owners current payment, which I would pay directly to the mortgage company. I would then rent the property out with a lease option for the cashflow. Has anyone tried this and had any luck with this strategy?

I own a mobile home l located in a trailer park. I am continually receiving calls from the park manager that my tenant is destroying my trailer and park. I have gotten complaints that the police are always at the trailer and trash is scattered all over the lawn. The police department has only been there once and that was to see if she know whereabouts of her brother. Also, I have never seen trash on lawn and the last time I changed the filter the trailer looked better than when tenant moved in. My tenant is a single mom and about 10 years younger than the average tenant of the park. Any suggestions on how to deal with property manager?

Thanks John, 

I talked to the city attorney and he said a letter would sufice

Hi Bigger Pockets Community: 

I recently bought a property under a contract for deed.

The property needs some work and I am needing pull a building permit.

When I went to get a permit to start rehab, the city employee told me since this is a contract for deed and does not match the county database, I will have to have the person I am purchasing the property from pull the permit.

This makes no sense to me and has anyone else ran into this problem before?

Thanks

Ron

I agree with Jason, I would add that I would not add so much cash that it lowers your return to single digits.

I had a mobile home and we had to remove some decorations from the ceiling, not realizing that was what was holding the ceiling up, the whole living room ceiling collapsed.

I am interested in rentals that cashflow.

thanks Tim 

I am looking to start investing outside of my local area.

I have been considering looking at some turnkey companies.

I am looking primarily to invest in the Denver, Nashville, and Columbia, SC.

Wondering if anyone has any success or nightmare stories in those markets.