All Forum Posts by: Kendall Chamberlain

Appreciate all of the replies. Just to clarify, it was a not a security deposit but a $200 holding deposit. I had 2 more showings immediately after them and I told them that.  They suggested this and asked me not to show it. I should have specified it was $200 but I did specify above it was a holding deposit.  Thanks again! Ps have you ever done something not fot financial reasons but principal reasons.  I believe the answer is yes.

ah some ethical debate,  just what i was hoping to avoid. I'm going to resist the urge to give you the full story right now.  But my original post has no need for that whole story. These specific laws are not easy to google I've found. 

Made a verbal agreement to start lease July 3rd. I took a holding deposit and now tenant wants their money back. Am I obligated to return entire deposit? (I know,  sign lease immediately next time,  but this time I did not) 

Another group in town is Landlords Inc, they have monthly meetings, happy hours, etc. There will be an accountant coming to talk real estate and taxes here in the next month or so. It's a can't miss for beginners and experienced. 

Give Worth Clark Realty a call

 capwest and bank 21 turned you down?

 The 2 people I always go to first are Bridget Fairchild from Capwest Mortgage and Carmen Goss from bank 21. 

No dont' do it Tim! That's 8 properties I may have been planning to buy!

Haha, kidding aside... I'd say shop around and then do it. No reason to leave any stone unturned when talking about that much money. (stone meaning mortgage co./credit union)

p.s. I am biased, and believe that for a patient person, leverage is the ultimate compound interest. 

However, all that being said- is it just me or is bigger pockets watering down the KC returns ; )

There's a saying about teaching a man to fish...

As with everything in this field - The first time you do something new, you should devote yourself to learning it. The first time you have a leaky flapper in the toilet, you should be learning how to replace one. etc (my opinion, i know some disagree)

Long story short I recommend talking in depth to at least 5 agents. You can email them next time you're buying a rental, once you've got it down and can read their quotes. You'll be amazed at what you'll learn. Some companies look back 3 years for claims, others 5. Some companies will give you a discount for having a college education, some could care less. Some companies charge a 1% wind hail deductible, others don't (yet)

And finally, I assure you if an agent won't take your call at 4 or 5 your time? there are 20 more that will.

The boat.

:)

I reccomend 3 things. 

1) Learn a little.

2) Do it!

3) Keep learning.

# 2 is what gets most people.