All Forum Posts by: Austin Youmans

A month late? so they payed 2 months at a time or were another month late?

I would evict them. Just giving them the notice that they need to pay or will be evicted might be enough to get them to pay on time.

What type of real estate are you interested in?

Most people seem to look into buy and hold at the beginning.

• The Unofficial Guide to Real Estate Investing
• HOLD: How to Find, Buy, and Rent Houses for Wealth

I would raise it $50 per year but keep him $100 below market so he doesn't move.

I wouldn't worry about the condos as it is a different type of property that has a different type of tenant. People usually want more privacy which SFH usually gives them.

Also when you buy make sure it would cash flow as a rental even if you ware living in it for a while. That way when you move you know it will be a good rental. Rent rarely goes down if you keep the place in nice condition.

I am looking into this as well and narrowed it down to 3 options so far.

• Cozy - Free - 4-5 days for transactions
• Intuit - $0.50 per transaction - 1-2 days for transactions
• Chase - Free - They give out deposit only cards or use chase quickpay. (Still looking in to details on this one.

Is there a lease in place?

Is this actually a good deal?

if it is a short sale I don't know that you will get it below market value but worth looking into.

Protect your investment and fix the water and foundation problems.

You are the landlord and need to lead the way, meaning if you don't care for or about your property why would your tenants?

Give him the choices and explain that you don't wan to put an eviction on his record so he can pay his back rent and keep going or he can leave now with no eviction on his record. This is commonly called "Cash for Keys". If he is not will to do those then you will file for eviction. give him the proper notice and paperwork for evictions in your state.

You should ask some different lenders. It sounds like you should be able to get your own FHA loan still as it is not a first home owner loan but a owner occupied loan.

I think the only hurdle is that your mortgage, assuming you have one, on your current house will count against you as it is not rented out and is a liability.

Assuming that there are no other problems with the tenant than being messy I would let him stay as you are getting the rent you want even if it was renovated.