All Forum Posts by: Account Closed

People fear the due-on-sale clause unnecessarily.  It's an option the lender has to call the loan due upon transfer of title.  It does not mean that it automatically gets called due.  It rarely happens that a lender calls a loan due. 

Forget California.  It's not a landlord-friendly state and it's too expensive.

Follow @RentalRobert on TikTok.  He finds good deals and shares them!

Hi Lindsay,

I bet you are trying to figure out which lead list is better - high or low equity.  I think it depends on you end game - if you want to wholesale properties, choose high equity.  If you are looking to do Sub—2 deals, choose low equity.  Hope that helps!  Good luck!

Kim

Market to find motivated sellers - "We Buy Houses."

There are a couple of things you can do if you get stuck. One is to renegotiate with the seller because maybe the price is not low enough to attract buyers. The second is to find another wholesaler in your area who has a robust buyer's list to see if you can JV. The third option is to release yourself by using the "out" clause" that you have in the contract. Also, make sure you are not trying to wholesale in rural areas with few buyers, as you surely will get stuck! Good luck!

I would never do that!  It's all about location. You want good, safe areas with good schools.

I would never do that!

I use Zillow to list the property, screen tenants, create or upload the lease, and collect rental payments.  It’s a great all-in-one tool!  Good luck!

Don't mess around with someone who has bad credit and questionable income.  Set your minimum standards (income = 3x the rent, min 600 credit score, no evictions or criminal records) etc., and stick with that.  Put the requirements in the ad on Zillow.  Being strict upfront will save you from evictions down the road.