All Forum Posts by: Trush A.

Hello,

I have a tenant possibly growing “plants” in the basement. It is in MD and the tenant is vacating in 3 months. Any suggestion on how to handle this situation?

@Sean Barber

Any luck? I am also trying to get some background info on this firm.

@Simon Dean

Seems high for 30 year (assuming 20-25%) down. I would try some online lenders. I received a quote for 4.75, no points. PM me if you need lender info.

@Nathan G.

Thanks Nathan. That is exactly what I was wondering. Inspecting their house is not an option and rental market is strong here and I will have it rented soon. I was hesitant to say no to these people as they seemed polite.

I sent an email with my regrets today declining their application siting low credit as a reason.

@Chuy Gonzalez

Thanks Chuy!

Hi, I have a couple (semi-retired) that I am considering for renting my townhouse in A/B neighborhood. Rent is slightly under $2000 per month.  They seem to be very nice and friendly.  They have 2 cats that they swear use littler box and they are willing to put down pet deposit and monthly pet fee.  From the background check I learned they are going through short sale process and their house might be foreclosed from my research.  Their credit is mid 500 to mid 600.  

I am unsure if it is a good idea to rent it to someone with 2 cats and people going through short sale.  People seem to be very nice but they were not upfront about their current shortsale situation and I learned it from background check. 

I welcome your opinion. 

@Steve Emling

We started using Zillow recently for some tenants and it is working fine. Zillow is a one stop shop for us when it comes to posting property for rent, background check and collecting rent.

Hope it helps.

@Diana Muresan I am not on conventional financially because I purchased all properties under LLC. I have 6 houses including my primary. I am slowly learning from people that I can buy under my personal name and then transfer it to LLC (if lender allows). Not sure how much it costs to transfer deed. I need to look into it. I personally do not lIke to change even light bulb on my investment properties but I have contractors do work for me. LOL I use my own funds to repair and I always keep enough cash on hand so I can buy my next property without loan in case I am denied loan after appraisal. Am I making sense?

@Lamont Marable Hi Lamont, I would love to get your 2 cents on my question as well. :) I have only bought properties in Frederick area as I know thiS area better than other areas of MD. Also, it is easier for me to manage as I am local to Frederick. Most of my buys were rehabbed and then rented out. I have flipped few as well. I only buy properties assuming the numbers work out for a quick flip.

@Tim Miller Thanks Tim! I will give them a call. Regards, Trush