All Forum Posts by: Sergio Garcia

Have you talk to the prospect  about the bounce check? I believe the transaction is avoid (lease) as you didn't get money that was agreed to. You probably need yo get some legal advice on where you stand on this this issue.

On all of my first transaction with any tenant is a cashier check/ money order drawn from a local financial institution. No personal checks. Full amount upfront no negotiating at the time of the lease signing. Its business...I make it clear what's require at the time of the lease signing even I have a tenant still living at my rental property. 

When it comes to buying new appliances (stove, microwave and frig) I buy them with extended warranties to avoid the repair headaches. Washer and Dryer its up to the tenants to buy them upon move in.

I agree with Steve...don't pay any credit repair agency a dime which you can do yourself. I was in your shoes years ago, get them paid and your credit will improved. There is no magical repair tactics to fix your credit over night. It took me several years to repair my credit doing it myself. Start contacting them and paying them off one by one and your credit will improve. Make sure you get it in writing that the debt was paid in full. 

Good Luck!

If you were in my neck of the woods I would have you delivery it to one of my rentals.

Looks like a shallow well pump used for irrigational proposes. You can see the rust stains on the pipes as it appears its leaking.  My uncle had one those well pumps in Hialeah Florida in his backyard, They are common in South Florida as the water table is high.  He had to go only 20 feet deep to hit water. He was able to water his lawn for years. Make sure the sprinklers don't hit any structures as it may leave rust stains. 

Depends who you rent to. If its a family with small children a bathtub is a must. But if you rent to senior citizens a walk in shower is prefer for them. 

Number 1 rule is never rent to tenants that are questionable. You are leaving yourself wide open for problems. They should pass a background check and make 3X the monthly rent. If there background is shady or unable to meet 3X the monthly rent move on, don't look back. 

Welcome aboard Lisa...this is a awesome forum to learn about RE investing. My short time being here I have learn a wealth of knowledge and all has been FREE. Go listen to the Podcasts they are great source of information. Good Luck.

I just rented a house to a couple that in 2014 filed for bankruptcy. They were upfront about it when we first meet at the rental. Upside if they like the house they will stick around for a while and that's a PLUS in my cash flow book.

Congrats Jay... I'm interested in the sauce if you can PM me. Thanks. Their is a good read on the strategies on bidding on Hubzu on the link below.

http://www.biggerpockets.com/forums/92/topics/8470...