And they rarely if ever have checking accounts.. ( too many bounced checks) or debt collectors coming after them.but they need a place to live as well or as they say .. a place to stay. this is a niche that can produce over time but its a business and a dog tough one constantly dealing with these folks if you can't scale it..

I work at Keller Williams and really can't say a bad thing about the company.

I'm thinking of including an "Origination Fee" that will be refunded if the note is paid off in a certain amount of time, say a year.

Or if it is, say, a university area with a lot young folks who are only there for 4-6 years.

@Bill Piker since John brought up the eviction subject, I would also say (as a tip) to look into your state laws regarding evictions.

You cannot say "this property doesn't meet the 50% rule" because, as far as the data goes, it appears to ALWAYS apply.You can say, a property will not cash flow if you apply the 50% rule.

I call you up and say, “ I don’t think I should have to follow the lease terms and want you to lower my rent payment 200 a month because of “this environment.†What are you going to say?

When you really look at it objectively and in general terms, how is this transaction any different than one in which the investor ( or any buyer) would have held, say, a few months and then re-sold for a profit???

Consider the "opportunity cost" of your investment, or the cost of investing in this home, vs. say a duplex of a similar price (which isn't fair b/c duplexes might cost more for a comparable quality).

His full time job was serving as a waiter at an ice cream shop, and he made our deal miserable - or should I say, a Rocky Road.Part-Time Patty will drop her drawers on commission because she's a weak negotiator - and she's the very last person you want representing you.