All Forum Posts by: Lillie Manon

I am interested into getting student rentals and I have heard of people renting for higher than market value usually by renting rooms instead of the whole apartment or just being able to charge more for the apartment. I know in some towns they limit the number or unrelated people that can live in one house so it limits your options. What areas do you have your student rentals in that You have found to be lucrative? What have been some of the pros and cons of student rentals?

I have a property that I have under contract and one of the apartments was divided from another apartment. The bathroom is very small and awkward it would be a for sure turn-off to me if I was renting the place and I think many others would feel the same. I am thinking about getting rid of the bathtub and leaving just a shower to open up the space a bit, maybe add some storage and make it more visually appealing. Do you think the lack of a bathtub will turn off renters? Most people take a shower just because it's quicker and more convenient but many people like the "luxury" of being able to take a bath on a weekend or if they want to relax on an evening off. If they saw the before and after, they would for sure prefer no bathtub but they of course don't care about before and after. If it matters to them, they will just rent elsewhere. My question is am I limiting my rental pool too much by not having a bathtub?

I would say if you have to choose between the two then a shower for sure. Almost everyone takes showers, some people take baths. And there are others who may be more likely to take a bath on vacation when they might not regularly because they don't have the luxury of time before work. So while the lack of a bathtub may turn off a few, lack of a shower for sure will turn off many. I am in the process of updating a bathroom in a rental property that is very small and awkward. I am thinking about taking the tub out and having just a shower. I'm a little worried that it might turn off renters but if you think realistically most people don't take baths, at least not on a regular basis.

Not a loan officer but I'm pretty sure he would still be subject to the same FHA requirements. Has his family grown too large for the current house? Do him or his partner travel more than an hour for work and are possibly moving closer to work? I feel like I've heard that after a certain period of time you can convert it to a rental and buy a new FHA insured property. 3 yrs maybe?? Can anyone confirm??

Joel not sure why I can't seem to message you. Seems your info is hidden. Anyway, please pm Me and once we are linked, I can send you my questions. Sorry, I'm new to bigger pockets 🙈

Has anyone come across any American Companies that will lend to Americans who are looking to purchase investment properties in other countries. I was looking at the Dominican Republic in particular but there are other countries that have an opportunity for growth, etc.

Has anyone gotten a line of credit? If so, would you recommend the company you used? I am currently looking at one financial. They want 10 points as a finders fee but supposedly no money up front. I think it's too much, but if it's a means to an end, it could be worth it in the long run. BUT I was told that after the 6 mo no interest period, you are charged interest on the line of credit regardless of whether or not it is used. I have never heard of that. It has always been my understanding that you only pay interest on what you use. Has anyone heard of this company One Financial? And do other LOCs charge interest on the unused portion??