All Forum Posts by: Account Closed

Great Job! Managing your money and keeping your eye on your goals got you back into home ownership! Sometimes our best lessons come from mistakes. You found a home that is less than renting and if you want to ever move you will have an income generating property!  

Yes! A good property manager will keep it full! This is one of my goals. To own a beach condo as a rental. I will have an experienced on site property manager handle the weekly bookings. You need someone there to keep an eye on it between renters.  Find a Realtor that specializes in property management.  

How do you approach people? Attitude is everything.  If you have a bad attitude people will surely slam the door in your face. Be kind. Be their problem solver. If they don't trust you, they aren't greedy. They are looking out for themselves. 

I agree with you. I like linoleum better than tile. I can never get grout to look clean no matter how much I scrub and bleach it. But, if your market prefers tile, then you should use it. If you are wanting to get away from doing it maybe you can find a young person that would like to learn the skill of tiling. Or you  can mentor an able bodied person in real estate investing in trade for tile help. 

I was able to get a USDA loan. Everything has to be perfect. You have to fall within the income guidelines, the house has to be sound and pass all inspections and it has to appraise at or above the purchase price. The only hiccup we had was the well. My house was built in 1969 and they drilled the well 2 feet from the house. Guidelines for a USDA loan say the well has to be 25' from the house. So to continue we drilled  a new well where it would comply. It cost $4500 but this is our forever house and we got 100% financing at a low rate. And in the end we have 2 wells.