All Forum Posts by: Laurie Johnson

is it a bank owned? who is auctioning? are they behind on hoa or are there any other liens? lots of questions. as far as buying it the cap rate is good about 10%. howeverdo you want to landlord next to your house? what are the communities requirements for landlord/tenants?

I would pass on both. The issue with one is that if the son moves out and he probably will she can not afford the place especially if these collections garnish her wages.

The second one already lied and said no evictions. Even if not their fault???? They were not honest and that would be your next eviction.

I always go with my gut when it comes to tenants. You are questioning because neither are a fit and quick money in the front end means loss of lots of money on the back end.

Good Luck.

Ok as great as the above info is. The key here is that you START. Money or no Money. Just start somewhere. Figure out what your area will be and your niche will be. Drive for dollars or do mailings. Some action is better than inaction. You can learn while you work. Good luck and much success.

Sorry forgot make sure the tenants initial the addendum

just write it in the addendum and state that washer and dryer on premises and will be there for the use of the tenant until such time they no longer work. Landlord will not fix or provide new ones. When they finally go state washer and dryer hookup.

I would keep some others on your list because one never knows. Life happens. Car accidents, deaths, sickness. A number of things that are not the "fault" of the hired contractor but, you still have a business to run.

I find with contractors as well as many other professions. People get comfortable with each other and therefore may not always keep doing the best job. Maybe not intentionally again you still have a business to run.

My thought is this. I want my tenant to feel as if it is their home. If they think of it that way most will take care of it that way. When I can not hang pictures or whatever in my house it is NOT my house. I feel it is temp shelter. I would not mention anything about it. Let them have full use of the house they pay for. Or you could end up paying in the end.

I would do another rent to own. Make sure the NON Refundable deposit to purchase the property is a hefty one so that the ppl buying do not want to lose it in the end. With the monies made take your hubby on a mini vacay. ;)

It depends on how you learn and what you benefit from. In a rehab situation I would stick to local ppl. Simply because they know the ins and outs and what your local area requires as far as permits rules and regs also they often time have relationships with local officials for said permits/regs. Check your local REIA.

As far as the ppl you mentioned I do not know them. If you like them and can learn from them then go for it. I would definitely do the $200 thing in the very least. Great to have the contacts and learn a few things.

Unfortunately you do have to go through him. Have another realtor inquire about the availability. If it is still available have contact the broker. Short sales are a LONG process if the realtor is already being difficult you may want to continue looking.