All Forum Posts by: Matt B.

Hi Rich, I think the rules and processes vary from state to state. You should either find an attorney or accountant here on BP that is licensed in your state, someone who has done it in your state or go to your local attorney/accountant. 

I wish I could be of more help but I have never done it myself nor do I invest in your state. 

Look at the area as a whole. Main employers? Is the town employment a factory that is on the brink of closing? Blue collar or white collar? Go to the local police department and look at crime statistics by area. Talk to locals and see if there's any up and coming areas where you can get bin early etc

maybe you can find someone on BP in your area that can help you out?

I would make sure the seller provides you with the tenants security deposit. 

I would raise rents to get a more competitive rent. I'm not saying match the competition but being at 899 versus 950 a month is a big difference to most people. Good luck buddy

there's no substitute for a good real estate agent. I'm renting out my property on July 1st and have my aunt (my RE agent) giving similar properties in the immediate area that she rented out recently. 

They already broke the law by trespassing. Ask your self, would you rent to a convicted criminal? I would call the police and have them removed. Anyone who says otherwise let me know your address and I'll move into your home so I can rent mine out. 

Thanks guys for all your replies

What's recourse/non recourse? It would be a new purchase. 

Hi all,

I had a few questions about portfolio lenders. I have been looking to obtain financing and looked at a national portfolio lender. They say their rates start at about 6%. I found this hard to believe since rates are at an all time low. 

For those of you that obtained financing through a portfolio lender, what rate did you get? 

What was the required down payment? 

Does anyone have a national portfolio lender that they have used and would recommend? 

Thanks,

Matt