All Forum Posts by: Cristiana Kimmet

@Damon Duperre Yes I verified that. It was a property management company phone number from a different town he lived 1 year ago. I thought it was weird she remembered him right away and said great things. As right now he lives with a relative until finding a place.

@Michael Noto This is a good point. In my area I don't need to deal with tenants of this caliber. I think I might skip him. 

Also, do u usually tell the person he had a low credit score or stick to only..your application was not approved. What is a good way to turn down a tenant?

thank you all

I ran a credit report on a potential tenant and it came back with score of 508. He has a bunch of collections - 8 medical, 1 charter communication and 2 student loans. On the other side, he has a good job, good income and good previous landlord reference saying he always paid on time and took care of the place. I am not sure what to do..

I don't plan to use as a vacation home at all. I live only 20 minutes from the place. I am quitting my full time job to be a stay home mom so managing the apartment would be my part-time job (or should I say full?). No resorts fee @Greg Rulfs

It's 5min walk from downtown,10 min from lake (huge summer attraction) and 10 min ride on the snowbus to ski area

Don't know anything about performing notes or stocks as far as investments. I want to pay off cause I hate debts!

@Liam Goble Thank you for the break down of numbers. There is no way I can find cheap deals like yours here in MT! not on the mountain side. I would be paying $120 on tax and $116 HOA which covers building insurance and maintenance. Utilities are paid by the tenant and I would be managing myself. I would still need a insurance for interior apartment. I am coming to the conclusion that it will only be worth if renting by week, which I just checked similar places in the same town and they can go for $200 a night or $800 week during summer months and they are starting to get booked already. We would still have holidays and ski season to work on it with cheaper rates. Thanks again everyone.

This is a ski town and lots of people look for 6 month rent in the winter and you can't find places in the summer if you dont book 4 to 5 month in advance. Anyway, I will be reviewing all my numbers and see my options before a decision. I appreciate everyone's input.

I am willing to make little money (or non) for a year until I can pay off the whole thing and start collecting $800 per month. Also, this is a potential Vacation rental during the summer which I could be collecting $600 a week or so during 4 month out of the year. Still a bad deal?

Hi,

I have the opportunity to buy a investment apartment of about $125,000 which I could get around $800 per month in rent. I have about 25,000 cash to put down as right now and I could get the rest to pay off within a year. Wondering what most people would do for lending the money. I am looking at a 30 year mortgage so I can have low payments until I get the whole money to pay off. Any suggestions? Thank you

Thanks Joel. We haven't closed yet..just made an offer and the seller accepted. We still have the right to back out of this deal cause this was the broker mistake to not disclose this information before we made the offer. At this point we can hopefully fix it but if not, we will just ride out the 6 month..like you said it's not too long and it's not that much money too. Thanks again

Hi, I am new to this. My husband and I just had a great opportunity to invest on a commercial unit and the biggest reason we jumped in is that the unit is being leased by someone we know and she doesn't plan to leave at time soon. Anyway, we found out the lease agreement is until Oct this year (6 more month from now). My original plan was to rent directly to the tenant but honoring the price. Now the prior leasing agent is claiming we need to stay with them until the lease is finished and they charge 15%. Do they have this right? Thanks for any input