All Forum Posts by: Allan Rosso

Dave Foster when you say it will be short term financing, are you referring to temporary financing in order to hold the new property, such as an interest only loan? Then once the old properties are sold, that "short term" financing would essentially be refinanced into long term financing such as a mortgage? I'm sorry if the question is too basic, but I'm trying to wrap my ahead around how it works.

@Ray Lai so you're saying that undeliverable pieces of mail only come back if they were stamped first class? 

Tiago Alencar I just listened to the podcast episode you mentioned (#39), and it was definitely full of awesome information. I'm going to implement that strategy and hopefully get some results. Let me know how your endeavor plays out, goodluck!

All, Would a 1031 exchange be something that could work in this type of deal?

@Tiago Alencar, how did you generate the list to market to?

@Justin Frye I'm no pro, but you have many options if you decide to allow pets. I personally charge the tenant a non-refundable pet deposit on top of the security deposit: $300 for the first pet, and $200 for any additional pets. I've also got a clause where I charge a fine of $500 per pet, if the tenant is found to have any undeclared pets.

 Another thing I've heard of people doing, is charging tenants with pets a higher monthly rent than tenants without pets. For example, charging an extra $100 or so per month, to be allowed to have pets.

Ultimately, its up to you to decide whether you feel comfortable with tenants having pets in your properties, and as far the policies you implement, it all depends on how creative you want to get.

https://www.landlordology.com/new-jersey-landlord-tenant-laws/

@Lamont Booth, check this website out, it gets into state specific laws. Hope it helps

@Alec McCullough yes I realized my situation didn't compare to theirs. I honestly didn't have any idea how much law/medical school debt typically is, and didn't I think about looking it up. I thought my $10k was a lot, but now I realize it's minuscule compared to other situations out there. Thanks for the clarification. 

@Hau N. oh wow. Yeah my student loan debt doesn't even come close to comparing with that. 

Either way, if you're ready to dive into it now @Lisa Rispoli, I'm sure you and your husband will figure out a way to make it happen. Like someone mentioned before, a local credit union/bank will be more willing to work with you. Establish a good relationship with them now, and come 2019, the sky will be the limit! Best of luck! 

@Lisa Rispoli, I have about 10K student loan debt, and have financed two homes, a car, and have preapproval for the next home, by myself no problem. I don't think you'll have a problem at all, especially since it sounds like you have a cosigner.