So while the rents should be getting $1100-$1200, if you submitted it cash flowing at $1200, but the rents come in "officially" at $900, then that is a HUGE difference in annualized return and likely the source of the leverage drop.

I contacted a title company to officially record the sale, but they are requiring 3 separate closings (and tons of extra fees) because there will be 3 liens/private mortgages recorded (one is the original mortgage that I want to reassign since the interest rate was very low; the second will be held by my son to my daughter for his portion of the equity in the home; and the third is the difference which will be between my daughter and my other LLC). 

When you get the screening on a tenant see if the low credit score reflects a life event, such as divorce, health problems, etc or if it is the way the tenant lives, not being responsible for his/her obligations.

Hey Mike we are officially up and running!

Enjoy one of the best locations. 5 min drive to Atrium Health Wake Forest Baptist Hospital (or a 15 min walk), 10 min drive to downtown Winston Salem, 15 min drive to Wake Forest University.

There is obviously a formal lease, and we also supplement with a room mate agreement which outlines the more specific things like overnight guests and expectations in dispute resolutions/ cleaning/ care for the home and appliances, etc.I haven't received one formal "LL request" email yet, other than a formal 30 day notice in the event of a move out, which is usually after they've come talked to me in person about it to begin with. if there's an issue, it tends to be pretty limited to "hey, we have this shower rod falling off"... which im usually here to deal with (and tbh most of the time they like to fix it up with me), and it doesnt need to turn into a big thing. as for keys, i have the house on a yale smart lock, so 'handing over keys' is just official move out, walkthrough of the room for damages, and then I can delete their access code and access to the smart home systems without having to re-key the house. 

All the transacting of the money is done by lawyers or title agents because documents need to be filed and recorded and made official. 

I have not received any official notification from anyone, yet and the tenant is non-communicative.

I haven't officially joined the NCREIA yet but I am going to a real estate investing workshop later this month in Durham so hoping to connect with a lot of people that weekend and will probably officially join and start going to more events. 

The city has a big improvement plan (working to bring more jobs & biotech around the health district it’s in) that’s being enacted, the neighborhood also has one that’s not yet being done.