All Forum Posts by: Lana Lee

Yes. After creating MLS listing the for rent add automatically appear on major websites like Zillow , realtor and such.

Hello there, BP famil. I recently called an agent that was suggested to me by other landlord. I wanted to interview her to see how good she would be to help me rent out my apartment. When I asked her when can you stop by to take pictures of the place, she said :" Well, I don't usually take pictures." I was like: "How are you going to advertise it then?" On which she answered: " I have my own clientele and don't need to create an MLS listing"

What to think of that???

 What is up with that cash for keys!? I think this practice has to stop altogether! I am not paying anyone to get my property back. This professional tenants are being spoiled with that practice "Oh! Let me live a month for free and BTW, pay me for doing that!"

Nope, not me.

The typical HELOC rate is between 4 and 5% depending on how much you borrow. If your truck payment % is higher, then it makes sense to replace it with HELOC. You could pay of truck and use the remaining HELOC for down payment. Just make sure your debt to income ratio allows you to have essentially 3 mortgages. The bank or credit union can help you figure out your DTI. And then down the line , when your HELOC Is paid of you can re-use it. While cash out refinance has pretty big closing costs and it's one time deal, HELOC will cost you like $90 to open.

Just my thoughts

 Fair Housing is another aspectII need to research. I always depended on agent for that. But since I decided to find tenants myself now, I have to educate myself on that and how to write a rejection letter, I have no clue how to.

 Yes, but I was wondering if you need to obtain a copy of SS card, because in case you use wed site fir credit check, your tenant don't need to give uou number .

 In my area good multyfalimy deals are being snached off after a couple of days of being on the market. How come you've been watching that deal for several months? Maybe it's over priced. Try to lower your potentioal offer and recalculate the numbers, maybe it will workout with lower price. 

 What is your current mortgage rate? If you are able to find a lower one and pay some closing costs cash out refinance could be an option.

 I though you have to have a SSN  in case you need to take them to court or report to collection. See guys, I completely clueless in some areas. We have this rental for a year ,but I didn't really deal with that issues myself. 

You're right .