All Forum Posts by: Tyler Bobo

Maybe go talk to someone at human resource department at the hospital, they can probably give you some great info on the traveling nurses there like how often and how many and what seasons, maybe even how much they're used to paying in rent.  You might be able to ask a few questions of the nurses that are working there now and ask them what they would be willing to pay for a place like that.  Good luck:)

Hmm, if you're sure you're going to own it 30 years than probably is. Most people don't keep a home that long though. If you think you might sell in the next few years it's not worth it. If your loan is one where the PMI drops off eventually that would tilt you towards keeping what you have, yet if it is an FHA loan or something that keeps the same PMI the whole time maybe not. I would probably keep it myself, because you never know when you might sell, and that's a lot of closing costs for $100/mo. Keep an eye on the interest rates and shop around though, if you can get a scream of a deal on the refi it might be worth it at some point.

On time.

Sorry, had to. So I think using an escrow account setup or something making it look like it's coming from a property management company would be good. I'm curious for better answers too:)

In Brandon Turners book he says 3x the monthly rent, and verify that money has a paper trail and isn't from growing pot in your crawlspace!  I think that's a good place to start.  People will want to rent a 1,000/mo place when they make 1,400/mo.  

My thoughts on a felony tenant depend on the type of property and neighborhood, the type of felony, the length of time ago it was, etc.  If a guy had a felony DUI 10+ years ago that's different to me than someone just getting out of jail for a violent crime or trafficking meth.  I'm giving a lot more credit to their last 5 years too than ancient stuff.

@Lore Postman
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Congrats on your big move Michelle!  Don't get caught by analysis paralysis!  Read and listen to books, podcasts, and these forums and go buy something!

That's a vague question.  What is your goal?  What type of investments and what do you want to know before feeling comfortable there?  You might ask about unemployment, or find out how diverse the job market is, whether it's dependent on one thing like one big company or farming or if it's 3+ sectors, like tech, energy, and farming.  If you're researching a particular property you're interested in that's when you should talk to planning and zoning and make sure that your plans for the property will work and there won't be issues after you by it. 

Might ask your lender, and might have to ask a few lenders in a row to find one who is creative.  One problem is that if you file jointly then showing income from the rental/office in the house shows outflow from the business that would have looked like income. It's like daylight savings time, cutting the top off a blanket to sew it off the bottom doesn't make it any longer:)

You need a really good lender!

Probably not, but ask the escrow closer, they'll know for sure.  Also, if the idea is to hide who the beneficiary is there may be disclosure rules in your area particularly if there is a conflict of interest.  

Great questions! You may need a real estate attorney or ask a very solid property manager that is located in your area, since these laws are going to be different in every state and city.  Here, I would evict him for non payment of rent as agreed.  If the agreement was clear and not paid I'd post the eviction, wait the 7 days, and file suit and run that process if needed.  I would definitely consult a property manager at least though, after reading through our landlord tenant booklet.  I know our landlord tenant laws don't apply the same for rentals that are under 1 month (to distinguish hotel or BNB guests from tenants) and there may be long term lease rules that differ too, but I'm pretty sure it would be like that.  Good luck!