All Forum Posts by: David Stumpf

@Tomasz Kaminski If they are moving for a new job, someone at that new job can verify that there is a job there waiting for them. Get permission to contact the new employer and verify that they are expecting your applicant to start work, what the expected start date it, salary, make sure it is not seasonal. If they are moving hoping that they get the new job then maybe keep on looking.

@Alicia Ro IMO the breadwinner is going to be the financial decision maker. Her score is not so bad possibly because no new credit is in her name but either way it has very little relevancy to me. If he has a 440 credit score from years ago he has made no attempt to improve his financial life and will likely not start today. I would move on and let this be someone else's problem.

@Alicia Ro how bad is the bad credit? 450- little or no attempt to improve credit. 550- bad but possibly improving. I would pay attention to the bread dinner. That person is the one with the ability to pay the bills.

@Robert Redd. A college education does very little if any to prepare you for REI. You are working in a trade and have a skill set that directly relates to BRRRR and fix and flips. Save up money like the other posters suggested but you can get immediate experience by connecting with investors in your area. What area are you from?

Maybe do some handyman work for a local investor.

Once you meet an investor, ask if you can do some property inspections

Help with turnovers and tenant screenings, calling previous landlords and employers.

These are just a few things that you could add value to an investor that will gain you valuable experience while getting you some extra money to start yourself.

@Sam Leon rewrite leases when moving and increase rents to cover turnover costs over the first year. Either you will recoup your cost after a year and have additional profit the 2nd year or your tenants will decide not to move. Both are wins.

@Christoffer Huynh 16 apartments with a town population of 1000? Assuming family of average 3 rents each apartment, that accounts for roughly 5% of the population. It's going to depend on your markets housing supply, is the town population growing or shrinking, is the work there seasonal...? Too many unknowns but if you're actually accounting for housing 5 % of the population it could be either an amazing deal or terrible.

I agree with @Marc Winter. Schedule a routine inspection and look for evidence of smoking inside the house. Evict if you find or smell anything inside the house. Butts outside the house could have been from smoking in their car on their way home and disposing before coming in the house. Don't start an eviction without more proof and p*** off a good tenant for no reason.

@Jay Young That's an unrealistic expectation. How many people do you expect will make an offer without seeing the property? Every selling thinks their house is in perfect shape. So telling them "trust me it's in great shape" is not going to fly.

I still use erentpayment and have not had the issue that many other people have. I was looking to change however I like how erentpayment's online application is customizable. Most of the genetic applications are terrible imo. I think it looks sloppy directing applicants to erent for applications, rent prep for screening then another to collect payments.

Also you can find and edit your renter code in the property tab online

@Joe Mazur I would say yes to termites. It's fairly cheap compared to the damage they can do. Hopefully someone from Durham will chime in with an inspector suggestion.