All Forum Posts by: Travis L.

@Bob Okenwa when you say tenants can voluntarily pay more how would that actually work.  Do you mention to them that legally i am only allowed to collect xyz but for me to consider your application over others you need to pay this amount? thats confusing how you would get the tenant to voluntarily pay more.  

Hello BP community

I currently have a townhouse i am ready to put on the market for rent and am wondering how i should structure the lease to protect myself during this crisis.  I am considering only doing a 6 month lease with a double security deposit due plus first months rent.  Is that crazy or illegal? I just want to protect myself in case i get a renter in there that I cannot evict.  How are others structuring new leases during this crisis?

@Rebecca Cohen wow rebecca thanks for the advice. This is why i love bp!

@Courtney James thank you

@Evan Polaski thanks evan for the advice

@Erik Hatch thanks Erik

@Erik Hatch thanks Erik for the reply. Will realtors submit offers without financing lined up? Is that standard for investors to submit multiple offers without financing lined up? I listen to the podcasts and they never mention this detail

Hello BP forum folks! I am a long time BP "lurker" who needs the expertise of the community.  I have just bought a SFH rental property in Baltimore,MD on 11/14 of this year for 161,000 I have a note for 128,800.  I have fixed up the property and am getting ready to rent it very soon.  That being said I just found a good opportunity to buy a multifamily home near my home town that I feel after analyzing will check all my "Brandon Turner" analyzing boxes.  If my offer is accepted it should cash flow $300-400 month.    I want to make a offer on this house but my realtor will not submit the offer unless I have financing lined up.  He is worried that because I just bought a property that getting financing for another so quickly will be hard.  My credit is decent (715) my past 1040's show 48k per year.  My question to the community is.  Do I apply for financing with lenders for conventional and see if I can qualify (another hard ding on my credit) or do I go straight to Hard money lending/ seller financing.  I am trying to buy this thing with no money down.  I do not have the cash for the hefty down payment.  I am a newbie and avid podcast listener all advise would be appreciated! Curious to see others strategy of acquiring this property with little cash down