All Forum Posts by: Thomas Quinn

If the deal supports the cost of the hard money and it is the only way to make the deal work then its a good tool.  Exit plans would be are you going to refinance it and rent it after, sell it, etc.

If they want it and you are ready to have tenants move in now have have sign the lease and start paying rent otherwise move on the the next applicant.

Since you checked with his landlord and he has been paying since 2009 and everything else looks good I would be fine with the eviction.

I say turn it into a short term rental just think you can rent it to paranormal investigating teams or crazy people that want to spend the week in a haunted house at above market value

One thing to think of is what is normal in the area I know in my area its normal for tenants to pay electric and gas but water is normally paid by the landlord.  If someone in the area tried to get tenants to pay water they would probably have issues finding tenants.

If you think it will be a teardown you need comps on what the builders are paying for properties/lots.  I would research what builders are currently building in the area.  Zillow and property assessments will not give you the actual property value. 

I had a polo made to wear when I do real estate agent stuff I used vista print it only has the company name on it.  I think it was less than $25 for one with shipping

What is common in your area for rentals in that price range?

If they are only looking for a small amount like $50 it would be worth it not to have the headache, if they claim they had $300 worth that went bad I would say they are trying to scam you.

Never had any problems yet but the letters I have sent I always put a disclaimer like you mentioned I also put if the property is currently listed they should keep working with their agent so if they bring it to their agent it won't look like I am trying to steal the listing.