All Forum Posts by: Ayne C.

@James Dean-Howell

You'll always be a wreck at first but it's good to be a prepared wreck. One thing that helped me tons is watching pre-qualification videos on YouTube. Both the calls with sellers and other videos that go over what to say on that call. One if the videos went into great detail on 4 things to go over.... 1. Condition of house 2. Timeline to sell 3. Motivation to sell 4 Price. This was extremely helpful.

For some strange reason I decided to BRRRR 3 doors at the same time and finally they are rented. Whew. Now on to the refinance part. I can't wait to see those checks coming in before refinancing. They were bought cash so I'm sitting on 100% equity and it's giving me both anxiety and elation. It feels so good to finally cancel all the utilities.

For some strange reason I decided to BRRRR 3 doors at the same time and finally they are rented. Whew. Now on to the refinance part. I can't wait to see those checks coming in before refinancing. They were bought cash so I'm sitting on 100% equity and it's giving me both anxiety and elation. It feels so good to finally cancel all the utilities.

A gift for my tenants is about as foreign to me as a gift FROM my tenant. What would YOU like to get from your tenant? Exactly.

Yes. We were hoping to move into it one day but ended up buying elsewhere. Time to let go of that idea.

On to the next one.

Ok help me think this through. My former primary residence is in a super nice area of town and I have it rented to a long term hassle free tenant. I'm again debating if this is the time to sell, as it doesn't fit my criteria anymore. Its been over 5 years since I've lived there so if I sell, it would need to be 1031'd.

The numbers:

Purchase price 250,000 (in 2012)

Owe: 167,000

Current value 360,000

Monthly Income:

Rent 2500 (has agreed to 2600 in May)

Monthly Expenses:

PITI 1,692

HOA 83

Pool 112

Lawn 121

Lawn chemicals 54

Pm 8%

Would you keep and pass more expenses to tenant, or lease to own. If keep, lease for a year or month to month? If you lease to own how would you structure it?

Thanks.

@Carter Yocham NIIIICE

@Shannon M.P. Lewis

Much success to you and your dad!!!

Kudos for taking ACTION.

@Karen Lipa

If you go to any local property management website you might see a list of minimum qualifications. Find one you like, adjust as needed, and hand it out to anyone who is asking about the property.

You *must* have such a list and apply it uniformly across the board.

@Tiffany Roberts

In my area that's about right. Tenants expect an application fee. Make sure you give them a list of qualifications ahead if time so they don't waste their money if they know they don't qualify. If they don't even have $40, worry. Tenants looking for a new place should have *some* money saved up for move expenses.