We do NOT sign a lease with a prospect until they have:1) Paid Holding Fee2) Paid all MoveIn Funds: first month's rent + security deposit + Pet Fees, etc., MINUS Holding Fee paid.3) Utility Transfer: we require proof they've put all applicable utilities in their name.4) We do send them a copy of the lease to review.Once all above done, we send lease to sign electronically.

I’m in the process of searching for land in the Houston area to then build a 4-plex on it.The plan is to self-fund the purchase & construction, rent the units and cash out with a mortage.I like the idea of serving lower income families and therefore don’t shy away from section 8.This is the first time I do something like this, so I’m throwing it out there in hopes of hearing your thoughts and learning from your experience!

As a new landlord, familiarize yourself with tenant laws and have a solid lease and screening process in place to protect yourself.Be prepared for maintenance expenses by setting aside funds, and if managing the property feels overwhelming, consider hiring a property manager to handle day-to-day tasks.

If you ever have a hard to place or unique loan, let me know we have several people including ourselves who can fund these types of loans. 

One of the properties has been in contract probably three times with long waits to close, and then when closing came, the buyers would either have an appraisal contingency fall through, not be familiar with the area, or didn't end up with enough funds to close the deal.

If you are interested I can connect you with someone I have partnered with in the past who is doing a fund raise for a multifamily syndication, or I would be glad to talk with you about partnering but I am not trying to sell myself here, I just want to help.

Thanks in advance,DavidDavidThe home equity line of credit can be assumed -- it is cancelled with the bank at closing so no further funds can be obtained.It is common and same as assuming a non-heloc mortgage.Alan

After half a lifetime of working and saving and investing in index funds while renting, im ready to make the jump into a new asset class.Looking to owner-occupy a multifamily in the city of philadelphia and hopefully pass a portfolio on to my kids someday.open to any and all advice!

The eviction came about after this management company essentially held the house ransom stating they would not vacate the property unless I wire transferred funds to meet their $3,650 demand.

Additionally, offering to discuss any concerns she might have or exploring possible compromises can further demonstrate your willingness to work together for a mutually beneficial outcome.