All Forum Posts by: Jason C.

He is correct-there is the potential for liability issues. Many of the more successful wholesalers I know use a double close to keep themselves out if trouble. If you actually buy the house, and resell it same day, you are not acting as an agent.

I would be less apt to approve a young lady living on daddy's money. They tend to destroy the property, because they just haven't developed the work ethic that someone from less privileged means would have. Does that mean I would decline her outright? Maybe, maybe not. But if I had one unit available and multiple applications, I would steer away from someone like this. No offense intended to your friend.

It is market specific, but even more so, it is property specific. With that being said, I think most SFRs have dishwashers, or else they wish they had one (reason to not renew later). I do not supply a washer/dryer, but I tell potential tenants that I have one available they can rent for $20-$30 more a month.

Hello BP!

I was thinking of consolidating properties into a commercial insurance policy, one that hopefully would insure all of them under one roof (one single policy I hope). I have read that some recommend this route, but does anybody have a specific company they use for commercially insuring their SFRs? Also, would the properties have to be held in an LLC in order to write the policy? My properties are in various Texas cities, if that matters.

I would do it, if the house is already updated. If it is in good shape but outdated then I would not likely do it. You are not picking up any equity so if you have to sell at some point you will probably lose money. Cash flow looks ok to me if it had high rental demand as you say and if it needs zero rehab.

Definitely buy the mobile home, then you can rent it out when you are ready to move on. I've never sold any home I've bought because I just move and rent out the previous residence for cash flow.

You guys are right, thanks! All the money or nothing!

Hey, has anybody ever had any success in taking/holding other items until rent is caught up? A tenant who is well into the eviction process offered me part of the cash and to hold his four wheeler or car until rent is completely caught up.

My wife says there is too much liability in doing this, but I am considering it.

I thought Fannie/Freddie rules would not allow cash out refinance for investors who own more than four financed properties. How is this rule averted?

You are not my tenant, but thank you for being a long term tenant and making a landlord's life easy!

I would definitely ask if I were you.