All Forum Posts by: Account Closed

Why don't you ask him if he'll owner finance it for you? Y'all could come to an agreement that works well for the both of you. Maybe he'll let you just put 5% down with a 5-6% interest rate. He may even give you better terms since he's your grandfather. He'll need to record a deed of trust and then after a year or 2, you could go to the bank and refinance.

Thanks so much for all of the feedback! I really appreciate it. I do realize that it's my house and so I should take care of the issue so it doesn't get out of control. This neighborhood is infested with little field mice and I'm not sure that I'm going to be able to get rid of every one. I will sure try and I like the addendum idea. I just had a good talk with my tenant. Thanks so much for the feedback!

Question: I wanted some feed back on how you landlords handle pest control. One of my renters has complained about big cockroaches and, now, mice. I paid to have the house treated for roaches about a month ago, and then she called me a few weeks later with a complaint about mice. When my bug man went over to treat for mice, he said that the roaches were still there. I paid him $65 to treat the first time and am probably going to have to pay him another $65 to treat for mice. How do y'all handle pest control with your tenants? I always want to keep my tenants happy but the costs are adding up and I want to be reasonable too! Thanks so much!

Hi, My husband and I just purchased a property in Mobile, AL. that we are currently thinking about making section 8; however, I have a few questions and am looking for advice. Questions: 1.) How much do you ask for a deposit? On my other rentals I ask for 1st and last months rent but what is appropriate for section 8? 2.) We did install an electric stove and dishwasher but Do you supply refrigerator? Washer/dryer? 3.) Do you ever ask more than the voucher amount for rent? 4.) Do you require your tenants to take care of lawn maintenance? And what if they don't? Thanks friends! I appreciate the feedback:)

Hey Jayson, I read this post on ClaytonMorris.com the other day and thought it was awesome! I was to do the same thing. I don't have tax advice(I would consult your CPA) and I'm not quite sure whether or not you should put it in your name 1st but hope this helps: http://www.claytonmorris.com/ It's his latest post: "how to pay off your house within 5 years using these awesome ninja tricks If I were you, I would call a lender(friend if you have one) and ask CPA before doing so:)

Thanks @neilschoepp and @Peter Vekselman I so appreciate your response and advice. I've started listening to BP podcasts all the time and have learned so much. Neil, I have never thought of those advantages to multi-family but definitely makes since! And @Peter Vekselman you are so right. I am currently working on that now. Its a little hard managing a family and full time job all while trying to get this business off the ground but I'm making it a top priority! What is your best advice with regards to finding good, reliable contractors? 

Hey Guys,

My name is Mary Ross Radcliff. I am 33 years old and live in Mobile, AL. I sold real estate for about 3.5 years out of college then left real estate to take a pharmaceutical sales position. I still have my real estate license but it is currently in inactive status; however, my husband is an active real estate broker. I love my job but am interested in creating passive income for my family and what better way then real estate, right? I have 1 rental property and just invested in a piece of land but am interested in learning more about buy and hold real estate, flipping and different financial investment strategies(i.e.: getting the money). I look forward to learning from all of you:) ~Mary Ross