All Forum Posts by: Jane A.

John Farmer Great Plan! I mean ambitious! I am not an expert in numbers for new construction but people like new, so you may have a market if you will be done before the next crash, when you could buy new houses on Foreclosures. By the way, why did not you think about pre manufactured houses, as I understand they are very cheap and may look nice. By the way, probably if you will build a fourplex or duplex - it may give you a higher return

So just make a lower offer to justify these risks

Banks have guidelines. I would consider them conservative: 70% leverage plus 6 month reserves. So if you want to take more risk - take more leverage, if you want to stay even more conservative - take less leverage. This is my simple thought. I would be happy to see other approaches about leveraging as well.

I made my tenants to do a direct deposits and I am happy with that, yes you need to have different rents or ask tenant to remember to write down the unit number :))) I go not like third party involved into rent collection process. With one building though I inhabited automatic withdrawals via clearNow - it works great as well :))) it takes few days for them to process payments

Do nothing before you will estimate how much it will cost to replace this tenant (unite update and time and may be eviction). I do not like difficult tenants as well but if it is reasonable to keep them from business point of view - I may keep them. I found that about 50% of tenant are difficult in different way. And all tenant are difficult sometime. If you want your rent before 1st - introduce an initiative - a discount when paid on or before 1st or initiative for auto pay

It depends on when you will have more fun - negotiating about the fridge or taking your deal, but if you started to be not completely happy about this deal - use this as a legitimate reason to go away. Find your deal where you will make 250K

Really I used rocket lawyers for a year or so before I found that their lease is not good at all, yes I got something from google for IC agreement, I just want something simple and clear, by the way when I asked other REI it does not look like they feel it is important for them, but I do not feel comfortable, especially when IC takes over a kid to job site, I hope somebody could share sample of doc or why they do not use it

Please, help me to find short doc I could sign with any contractor before he will start to work on my site. I want something short, easy to understand by any contractor so they will feel comfortable to sign and I will feel comfortable to have them at my site

It is not likely to happen at all as banks checking on all last credit scores requests and more likely avoid this situation at all or second bank will figure out it during recording

What do you mean under "market is 10x better"?