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All Forum Posts by: Bryce Litwin

Bryce Litwin has started 1 posts and replied 57 times.

Post: rent is 50% of income

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

I would say that monthly income 3x monthly rent should be your bare minimum.  Anything less, they cannot afford the rental and you will have problems.

Post: Prospective Tenant Proof of Income in Pennsylvania

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

This is the first time I've ever heard that.  I'm not an attorney, however, but I'd like to know where in the code it says that.  You have to verify income somehow.  

Post: FHA for Four Individual TownHomes

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

As far as I am aware, your lender is correct.  That is 4 single family homes, not a 4 unit multifamily.

Post: Did I Mention I HATE The Stock Market?......

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

The only thing I hate about the stock market right now is that I don’t have more money to invest right now while stocks are on sale☹️  I’m hoping the (bear market) sale persists until at least February/March... I should have some extra cash by then...

Post: Best way to structure an operating agreement with family?

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

I 2nd the suggestion to get a real estate attorney...

Post: Question about renting a townhouse/w amenities

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

I'd probably just advertise it at $1650/mo and list all those included amenities to justify the increased rent.  Is it just cable or cable/internet?  It should have value to someone.  

Post: Buying a first rental property in Kissimmee fl

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

You can ask for whatever you want to, but if the seller is selling as is they will probably reject your contingencies, unless, of course, they are very motivated to sell.

Post: How to buy a FSBO Off Market deal without a realtor?

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

I have done this a couple of times.  I just got a real estate contract from my attorney and then both parties signed the contract.  We did inspections, had insurance set up, bank approval and then just closed at the attorney/title company office.  It's pretty easy.

Post: Tenant was “gifted” a dog

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

Notice to cure or quit.  

Post: Netflix show on STRs

Bryce Litwin
Posted
  • Danville, PA
  • Posts 58
  • Votes 58

No, but I just added it to my watchlist!

Bryce