All Forum Posts by: Jennifer Kobasic

I’m in!

I’m not getting aggressive I’m trying to evaluate a potential tenant. Looking for feedback not judgement. Thank you!

Also I don see any utility companies, cell phones etc on the credit report. I have her husbands credit report and he has nothing on it, No credit. He’s self employed. Vehicles they now have are all paid for.

Thank you Kyle, they had everything paid then in December there was only two account one being a mortgage that was not being paid. She didn’t have a ton of lines of credit open and what she did have looked paid until December when this issue began. She now has 7 items in collection. All the collection accounts have an open date of 1st quarter this year. I’m assuming open date on the collection piece of the credit report means that’s when the collection was opened not necessary when the account is open. 

She is willing to pay double deposit and wants at least a two year lease. 

Thank you to all of you who commented and continue to share your thoughts on this. We really appreciate it. 

Jennifer

Good Morning,

We have purchased our first rental and it's been on the market about a month, roughly 2 weeks with updated pictures since we repainted it. The home is fairly new, 3 years old. We have listed the property on MLS, Facebook Marketplace and have gotten lots of questions but majority are not qualified. The property has been show about 6 times. We have realtor who brought us a potential tenant that is very interested in the property but.... they recently lost there house to foreclosure. Now I know that should be a deal breaker but they were very upfront and from the looks of it they let someone in there life that scammed them badly. Down to changing the way bills were paid, stealing mail ect. When i review the credit report everything looks good, all paid on time till December 2017. It looks like the house was just sold at an auction at the end of June. The homeowner tried to stop it, wired money to bank but it was sold that day.

Her income is more than enough to cover the rent (our requirements were 3x rent, 600 above credit score, ect) there is nothing else negative on smartmove report. Her credit score is 595 on the credit report. We are awaiting paystubs, police report (she offered to provide). This property is in Texas.

What would you do? 

Thank you in advance for taking the time to offer advice.

Thank you gentleman for your feedback much appreciated! 

Jennifer

Good Evening,

My husband and I are new to the real estate investing world and we are looking for feedback on a deal we have been

looking at. 

Property is located in the Spring, Texas area 

List Price $155,000

Taxes $4,279/YR

Rent: $1,550-$1,600

We would be putting 20% down

Insurance: $1,100

Potential Neighborhood fee of $100. annually

In my calculation I figured in Property Management (5%) we plan on managing it ourselves but felt we should still build that in.  10% for Vacancy and 5% for Repairs monthly. Its showing around $60 cashflow.  

Thoughts?

Not sure what the estimated cashflow is in this area. 

Thank you for your time and advice. 

Sincerely,

Jen