All Forum Posts by: Wilson Bunton

Thank you all for your input.  I will go with the candidate with the best stats and interview.  Was worried that I could get in trouble.  Lawsuits and fair housing rules are always a worry.

Hello,

This is a first for me, I have recently listed one of my units for rent and have had an overwhelming response already in the 3 days that it has been listed.  Obviously I maybe should have listed it for a greater rent, but as I am already $50 more per month than any other nearby units I thought I was already at the top of the market.  However I have already had about 20 inquiries and several applications in the short 3 days that it has been listed.

So my question is this, when you have multiple applicants that meet you criteria and appear to be a good rental candidate, how do you select between them to be most fair and avoid any potential issues?  The criteria I have listed in my ad are a credit score greater than 650, no criminal/eviction history, and a monthly income greater than 3 times the rent.

My first thought is to go with the first application received that is qualified to be most fair, however not sure if there is a better way of going about this.

Any help is appreciated.

Thanks,

Wilson

@Ryan Bergeron PM sent.

Hi all,

I am working to secure a land deal and then am going to develop it.  I need help drafting the plan for one of the structures that will be on the property and am looking for an architect or engineer that would be able to assist.  Right now, I would like to do a rough first  draft that I could take to the township supervisor and just get a yes/no on whether I would be allowed to build the structures that I want.  These drafts do not need to be "official" just quick sketches.  I have a few ideas that that I have hand drawn but need someone that could do a computer drawn sketch.

Regards,

Wilson  

Agreed on good contractors being difficult to find.  I found that out when getting ready my previous rental, the unintentional one.  Engelo's name keeps coming up around town, seems like he's the big guy that gets things done.  So if he's having trouble with them then there must not be many good ones.

Hi Rob,

I am already signed up and receiving your emails, so far I haven't seen anything that looks too appetizing for my portfolio.  Must of the homes I've seen in the emails aren't in the neighborhoods that I would like to invest in.  I would guess that I am most likely not getting the cream of the crop deals in the emails and that maybe those are getting snatched up earlier.  I appreciate your reaching out to me though and maybe down the road we could work together on something.

Thanks,

Wilson

Hello all,

My wife and I just closed on our first intentional rental property in Toledo, OH in the 43615 zip code.  We are very excited to have gotten this property after our search took about 5 months to find what we believe will be a perfect first piece in our portfolio.  We purchased the home for $62,000 and expect to spend about 5-10k in repairs.  After the repairs we project that we should be able to get $900 a month in rent.  Photos to come down the line once repairs begin.  

We have some work to do to get it ready for rent and need some help finding good contractors.

We would like to remove the popcorn ceiling and skim coat the 80s texture off the walls, so we need a good drywall contractor.  Any recommendations?

Secondly, the duct work is pretty filthy so we would like to get them cleaned and need a contractor for this, any recommendations?

Thanks for any input,

Wilson

I just got a call my from my agent who had gotten a call from the listing agent.  Apparently the listing agent told him that Fannie Mae is only going to accept investor offers due to the extent of work needed.  So I guess I am left competing against everyone else.

Yeah I guess that's what they are doing in this case.  Is there anyway of getting around that or somehow overriding their thought that it can't be done.  I feel like if I have to wait til after the First Look and am competing against investors I have no chance at this house.

@Charley Thompson I understand that may be what is happening in this case, my argument is how can they make a determination of what is too much work.  What if I were a general contractor looking for my primary residence through HomePath, I would certainly be able to complete the scope of work.  On this property I have already spent several hours walking through the property and have a detailed statement of work that I believe I can implement in such a way so that the house is ready to occupy within 60 days.