All Forum Posts by: Frank Avallone II

Hey @Will Stewart, I would love to help answer any questions you may have! I'll send you a connection!

HI @Sharon Ramirez, how are the interest rates on the loans? If they are very high it may be worth it to put the money towards the student debt initially. 

If not, you could definitely look to invest the money into real estate to speed up the process for you.

Another things to consider is your current living situation. Depending on what that looks like, it may be a good option to potentially house hack in order to save money while making money.

I would love to chat more about this if you are interested!

Hi @Ethan Bennett, unfortunately it sounds like your may want to consider who you are working with.

Even if you guys were actually asking way more questions than you did, she should look to make you guys feel comfortable. Remember, you are buying a house, not a t-shirt haha! This process shouldn't be taken lightly and doing your due diligence is super important. If she can't respect that, then maybe you need to work with someone else.

Hey @Mark Borden, It seems to me like this may be a great opportunity to flip the home and make some cash.

Especially if the house is already appraising for 65k over what you can pick it up for. Maybe you can inject some money into the property to make it as livable as possible and turn around and flip it. 

Then with the money you make from the deal you can look for a long term rental property that will fit your needs!

@Beau Brockway, unfortunately I do not have anyone for Iowa. I would search for brokers in that area to have them shop some policies for you.

Would definitely need to search on a state level. Do you have a specific state you are referring to?

Hi @Daniella Hernandez, sorry to hear this has happened to you! 

I would make sure to document everything and keep as much of the info you provided on hand.

Did you provide them with any sort of rental condition checklist when they moved in? If not I would definitely suggest this moving forward. Helps verify that you both acknowledge the condition of the rental upon them moving in.

Also, do you require them to have renters insurance?

You could always present all the information you have to them with a repair invoice attached showing the damages and that you will not be giving the security deposit back on the account of this.

You may get lucky and they may just agree to just move on. 

If you have a lawyer that you work with I would also run the scenario by them.

Hope this helps!

Hi @Account Closed, glad to hear you are interested in real estate investing. I would love to share my experience with you as a real estate investor and answer any questions you may have! I'll send you a connection request now!

@Brian Hernandez, Glad to hear you are looking to invest in real estate at such a young age. I actually started right around your age!

There is definitely still some options that you can take advantage of!

I would love to learn more about the situation.

I sent you a connection request!

Hey @Luis Rangel, congratulations on your first property!! Very smart that you are getting things in place for the future.

Personally, I would recommend asking a few other people for leases and comparing them. Sometimes you agent can provide you with a template. 

Another thing you could do is search for other key provisions that landlords prefer to add in that may not be on a standard template.

Over the years I have added a few provisions to my leases just to tighten things up a bit. Also, something else that is super important is making sure the lease is filled out as thoroughly as possible and correctly. Make sure everything is filled out and be as specific as possible.

Some things to consider:

-Rules for smoking in the unit or on the property.

-Outline everyone who be occupying the unit and make sure their info is on the lease.

-Outline snow removal and landscaping.

-Outline parking when applicable.

-Outline late fees (talk to attorney for laws)

-Make sure lease has noise provisions

-Outline pet policy

-Outline utilities

Hope this helps!