All Forum Posts by: Cody Hunter

It all depends on where you read. Here is an article from CNBC this morning: https://www.cnbc.com/2022/03/2... However like the above agents mentioned, the market is still hot in some areas. Typically rates increase are meant to slow. Some differences between 08 and 22 but some similarities. 

How long ago was this "clouded" transfer? 

@Zackarias Aitchison Buying a property with existing tenants can be great or terrible. First check the laws. Next, some people only sell or buy with tenants in place. But you don't know the prior landlords standard. How did they screen them? It depends on the size and professionalism of a property. Sometimes you just have a feeling. But a lease is a lease and you may be bound. 

@Andrew DeCamp No such thing as "guaranteed". That being said, consult an attorney to ensure you're presenting a legal and enforceable contract. 

@Denver Chavez I don't have direct experience but can offer opinion. As long as that tenant is in place the money is guaranteed every month. They are also prescreened tenants. A few considerations: it requires a few additional steps to evict them. You are subject to annual property inspections. I don't believe Sec 8 pays security deposits. Just be aware of the persons who may be occupying the space. Some are great and some are not. 

@Mike Provencher Bring them current to stop the sale and take over the mortgage. Sounds like they are not living in it-so no need to relocate them. 

@Zackarias Aitchison I attend a lot of open houses. Not only to meet people but to see trends in homes. I don't know how many of the intake forms I've completed, chatted with the agent and never heard back. I appreciate someone who bombards me with listings matching my criteria as well as market data. As mentioned by others, a business savvy one is helpful. Realtors are extremely saturated. Don't be afraid to interview them before jumping on board. 

@Michael C. What about a a HELOC or cash out refi? This may give you the need capital to pursue a second property?

One option not mentioned is bank deposit cards. This allows tenants to deposit only with a pin and provides no access to the the account. Also lets not forget to mention the IRS is watching your transactions now....https://www.bloomberg.com/news...

@Brielle Phillips It really depends on the value of the property, what you have into it and what you can get out of it.