Build up your cash reserves people...

Bringing the $750 Tenant to the Real WorldAs for your tenant enjoying their $750-a-month sweet deal, it's time for a gentle reality check.

We had major problems with Airbnb and VRBO not covering damages to the home after many phone calls and being on hold for hours switching back and forth to many different people.

If there are any other owners or people looking to own in the area, I'd love to connect. 

If you want to use a HELOC to get an investment property, that's ok, a lot of people do that.

@Travis OglesbyGet an attorney to write up the agreement between people whose it as it will list maintenance requirements, putting money aside for repairs etc and who does what.You will need to get everyone to agree as well.

Congrats at already looking at real estate as an investment vehicle!   

@Drew Sygit I do wonder about people who allow signing without deposit.

I do think the seller is at risk on perceived  cost however those costs aren’t real if appraised at sales price. 

It seems like it's something people do on the regular, and the lender doesn't usually trigger the due on sale clause.