All Forum Posts by: Lamar Thomas

Ok so to start, I want to be efficient and effective at landlording/ managing  my property in Philadelphia as much as possible with minimum mistakes. However due to me reading forum post and hearing stories about tenants from hell, I have become nervous. I need my bigger pockets family help and advice on creating a great contract, what fees and deposit i should ask for, and the no(s) when screening my tenants. While I am not clueless, I believe my best bet would be to make my decision based off the advice and knowledge of long term tenants, professional, and others that are knowledgeable when it comes to landlording and managing properties.

If I werein this situation I would definitely rent the property if it financially makes sense and you guys profit every month from it. And, as you'll see in many blogs on here; fix and flip is a job and buy and hold is passive income you don't necessarily have to work for. 

@Account Closed Thank you both for taking the time to answer my question.  You both provided a lot of insight and knowledge, thank you so much.

@Joshua Lyon 

Are you working with Navy federal credit union to purchase your second property???

@Rich Cavanagh Do you charge extra for rent Rich and if you do how much

Thanks @Corby Goade @Yvette M. I'll definitely look into talking to a property manager. Thanks so much for the input!!

@Edgar Claudio. How do you initiate the process of using your VA loan again? Did you find the property first and then discuss it with your lender or did you call your lender first?

Did you ever call your lender to get more information on the VA loan and if you can use it without having to pay another 20 to 25% down??

Good question, this is something I definitely need clarification on.

@jd yea, the last tenants were great, I didn't have any issues with them or their pets.  Far as fees that are charged, are they charged per pet?

@JD Martin