All Forum Posts by: Eugene Kemp

We once rented to a felon that was 20 years in the past. Turned out to be a fine tenant.

Yes, I have used them twice with good results. I'm a fan....Give it a go!

I like to have $10k in the bank......it ebbs and flows, but if I'm below that, I get a little uncomfortable. Of course it depends on where you live and what the make-up of your property is as to how expensive an unexpected expense can be.  Roofs are the worst, followed by HVAC....how old are they?  You can probably absorb most other things, but these will hit you hard.

Suggest you check your state landlord/tenant law. Your late fee sounds excessive, and you may be limited to the amount you can charge.

We have some exhorbitant coverage on a flip as we renovate.....about $10 a day. Underwritten by Lloyd's of London. Hard to find anyone to touch it.

San Diego is no doubt higher, but I can get it done for anywhere from around $1.00 - $1.50 sq. ft. I have also paid $20/hr, which ended up being less than a dollar a ft., but this depends on the skill of those that are doing the work.

No, I think you're on pretty good footing Bruce.....what I meant was that I would probably find a good source for the money up front before I had a deal.  Agreed, you would have problems securing a loan before the deal. If your contingency clauses are good, you should be good to go.  Just be prepared for everything to cost more than you expected! :-)  Best of luck!

What happens if your offer is accepted? Looks to me like you need to have minimum $100k secured. Good idea to have that part sorted out before you make an offer, just in case, but good luck! In future, I'd also suggest you don't put too much stock in Zillow numbers.

I too am lucky enough to live at the beach, and before I retired, we used Airbnb in Europe quite a lot, and loved it. When I retired, I set up my own in our home, and it went great until the city somehow learned about us and sent me a letter telling me to shut it down immediately or risk large fines. It seems that our city does not allow Short term rentals of less than 90 days.....Lesson learned! Check with your municipality for the ordinances first!

Turbotenant.... It's free. Applicant pays them directly.