All Forum Posts by: Scott Raynor

I just relocated to Frederick, MD and would like to look into finding a property I can both live in and use as a short term rental as well.  Ideally this would be a main unit for me and an "in law" unit.  I'm thinking it would be best to be near the downtown retail district, but would consider properties further from this area.

@Farrukh Madaminov thank you so very much for your input!

Thanks Mitch!  The seller is an elderly woman who I've known for years and just doesn't want to deal with the upkeep of a large house.  From her perspective she gets to stay in the home she's been in for years without the headaches and I get in on a property without having to get a mortgage.  Does that make sense?

I’ve a possible single family deal where the current owner will consider seller financing. She may either move out or actually rent from me.

What recommendations would folks have for structuring the deal if she wants to stay and rent from me?

Here are the numbers.

Purchase price $175,000

Possible rent $2000/mo

I’ve no cash to put down and obviously need to cash flow. Do I ask for interest only payments until I can get a mortgage?

Any suggestions are greatly appreciated!

I’ve my second duplex under contract. When I went to look at the units I discovered one tenant had tin foil all over the windows and walls. I am a former social worker and have sympathy for this individual but this is my business. Should I be concerned?

What’s the best way to screen potential tenants? I recently came across something via Whitepages, but I’m curious what others recommend. Thanks!

The owner of my mother’s condo has expressed interest in selling to my sister and I. It’s in a vacation area on the east end of Long Island and I believe we can use it as a short term rental.

He has no mortgage on the property and I am closing on my first investment property this Thursday so I’m thinking seller financing is the way to go.

I’m looking for advice on how to structure a deal with the owner that will be appealing to him and a win for me.

Are there certain things I should consider when approaching the owner?

After years of dreaming I've finally got up the nerve to pull the trigger in the real estate investment game.  I've my first duplex under contract and I'm psyched!

Unfortunately, I was just notified by my employer I'm taking a temporary (5 month) 20% pay reduction because of the impact COVID has has on my industry. I've already got the financing in place with a FHA loan. Do I notify my lender or just roll with it and hope they don't ask to verify my salary just before closing?

@Nicholas Mann thanks so much!

Thanks so much Nate.  My biggest concern is that equity on the back with the bottom line question - Am I paying too much up front for this duplex, right?