All Forum Posts by: Ronnie Hutchinson

@Randall Re II Did you end up doing this? I'm curious as I am looking into doing this too in Central FL.

Hello,

Like many people here I use to use cozy.co until they transition to apartments.com. I had no issues up until the transition.
Now, late payment fees are not being automatically applied to accounts. No email notifications are coming through, along with some other minor issues.

Is anyone else experiencing these issues from the migration?

Well said @Scott Trench

The same scenario has happened to countless of property management companies. Even after vetting you can still get a bad tenant. At the end of the day, everyone is going to need experience in order to be successful in this industry. Hiring a management company right off the bat and thinking they'll cover all your issues is a bit far fetched. 

I would have to strongly disagree. You need experience if you're going to be doing this in the future. Hiring someone else to take care of all the "hard" stuff early on won't allow you to learn at all. House hacking is how a lot of us started, and if I started out by hiring a property management company in a house that I'm occupying then I wouldn't have known how to deal with a lot of rental scenarios personally. When things go south, who do you think the property management company is going to call to have the final say? 

No checking accounts? Give a deposit slip of your bank account and have them deposit cash directly into that account each month through the teller. 

Lower the rent.

This is for a new purchase owner occupied. 

Hello,

I'm looking for a creative solution for this. I have a rental property next to a college campus. I rent out the rooms to individuals. There's a total of 3 individual leases and each are on different lease dates. This makes it easier for anyone to move-in/out. Every lender that I've spoken to cannot include these leases for underwriting, even though it's included on my tax returns. 

They are looking for 1 lease for all 3 individuals. I'm having a hard time creating such lease due to the different terms of each and it's hard to find someone be responsible for all 2 individuals as that's one of the benefits the students look for. I also run into the issue of in case I need to evict anyone from the lease, how would I only evict one tenant when 2 other ones are on the lease? 

Am I able to create an agreement with a personal LLC for this home only that collects the rent and have an agreement between the LLC and I? I'm not sure... just throwing out some ideas.

With FHA both of you have to live in the property for 12 months. With 5% conventional, only one. But this is lender specific so I would recommend you just fill out a pre-qualification with your local lender or ask a broker.