All Forum Posts by: Brian Liscio

What city/town is it in?

Is he willing to hold part of the note?

That may change things...

Sorry let me fix that last post I'm on a bus. Lol So... If I take out a company 401k loan it gets paid back post taxed directly out of my pay check. If I take out any other type of loan I pay it back with post taxed money from my pay check.

So... If I take out a company 401k loan it gays paid back post taxed directly out of my pay check

I understand cutting cost completely. However if you are new to this; that is one needed expense in my opinion. My attorney does title and closing so that's helpful.

Have you considered using Google drive?

@Stephen Marks

Welcome to BP.. I see your situation because I was there. 

A great way to start is house hacking with a FHA loan. Unless you do some wholesaling to build up some cash. The only thing is that too many guys try it thinking it easy and do a terrible job.

I might have a good option for you in Lyndurst.

-Brian

@Eric Hrlbock

I never had to go after the parents. I noticed the parents that are paying for their kids school are either doing well for themselves or just responsible with their money. I also manage my properties myself and make it very clear that I do inspections. I treat them like adults and give them the respect I expect. I think treat helps almost like they want to prove they are mature. We all partied; just no need to trash the place.  One more thing.. I make it very clear that if the cops come for any issues we'll have a problem.

In NJ they would have to apply at the towns building department and then closed out after the building department inspects it to make sure it's up to code.

Personally I have the parents sign like they are on the lease and responsible for everything on it. In my experience parents understand; considering a lot of landlords won't even accept them.

Hi Larry, I would double check that lease. A lot of them are month to month after a year. The sad truth is once they are in your house they are in! People management is such a huge part of being a landlord. Hopefully you can be diplomatic about explaining to them you want them out when the lease is up. You might have to go as far as saying a family member has to move in. What's the reason you want them out?