All Forum Posts by: John C.

@Kelsey P.

Check with your state, you should be able to find what the requirements are for any changes in the lease.

30 day notice to vacate is typical for a 30 day lease.

I would write up a new lease, give it to your tenant to review and ask them to sign or vacate at the end of the current lease.

I wouldn't want any old leases tied to a new lease with an addendum.

Start fresh with new numbers and requirements.

@Amy Konopka

You walk through the house an hour before closing, go to the office, sign, get the keys, then walk back through the house and change the locks.

Period, no other way.

@Marcus R.

If it is working, let it work, maintain it and SAVE for a ductless system when the current one dies.

Let the tenant use a window unit if they want to provide one and use it.

@Gustavo Dominguez

Call the local gas company and ask what the average monthly or annual bill is. Some utilities will give that information out.

@Moe Khan

Zillow may have them listed.

Your best bet is to find a real estate agent will look and see if the MLS actually has the price sold listed in their system.

@Lynae Mamey

Research FHA thoroughly. And don't forget to add your MIP into your numbers until you can refinance conventional.

@Jacob Northfield

Make you understand the difference in MIP, (mortgage insurance premium) and PMI, (primary mortgage insurance) are and the cost and terms of each.

Refinance as soon as you can, MIP will change your return numbers.

@Gerald Dougherty

We list on apartments, require an application which has credit and background checks prior to looking at a listing at all.

This will weed out, like Nathan said, the tire kickers and such.

We quit using FB, everyone gets tagged, 99% of them don't or wouldn't qualify, messages in the middle of the night, ect.

As far as credit score, we don't have a criteria for that but we analyze their credit history more than looking at the score itself. We have had applicants make 90k a year but their credit history was atrocious. Living paycheck to paycheck. Others had low credit scores but paid their credit cards and car payments on time every month, they just didn't have credit the system wants them to have for a higher score.

@Valentina El Frih

Call and talk to the bank or broker, your real estate agent doesn't specialize in mortgage loans.....

@Kenzie McIlvoy

Dump both the lender and the agent. <---- that's a period

People talk about the FHA loans to much without adding the small print, 2 things that have stuck out to me on the FHA loans are the 1 year primary residence requirement and the MIP, not PMI.

MIP is for the LIFE of the loan. The only way to remove it is to refinance the property to another type of loan.