All Forum Posts by: Bob B.

Have him read The Million Next Door and The Barber.  

 You are a generous Dad.  Let him manage it it and learn how the real world works.  Get him a paint brush, a roller and a plunger and put him to work.  That will be better than any class he will probably take.  

Good Luck.

How about a MOVE IN SPECIAL!

Move in for $99 

Get a security deposit and $99.

Then make sure you screen for and get a good tenant and a 2 year lease for a little more a month.

My prospective tenants seem to have the biggest problem with "the move in costs".

There is a reason they are tenants.  They can not save $$$$$ and do not budget for their move.  If they were good money managers they would be home owners and we would be out of business.

Would you do this deal if your son was not renting it?

I assume he will not be a long term tenant as he would graduate sometime and move one.

What will you do when he moves on?  Will it be a still be a good investment?

Why is the seller selling them.

Looking at his tax returns is a great idea.

Are you buying good houses with dead beat tenants?

If they have lied to you about this they will lie about other things.

Get them on the right track now or you will be dealing with problems in the future.

It's all about training them and following up.

Don't let it slide. Give them a notice and have the water cut off if they don't put it in their name.  I assume they are adults and they need to act accordingly.

Visit the local Housing Authority office. Each city is different and has their own way of messing with you and complicating your life.

I choose not to do sec. 8 because they are not motivated to inspect and approve the property, they have too much paper work and my houses rent without any hassle. Not too long ago you could get higher rents with sec. 8 but not anymore at least in my area.

Check out: www.gosection8.com/

Good luck

Why do you want to be a section 8 landlord?

Good advice.  Been there and done that.

I got my last guy from the local (small) church.

I talked to the minister one morning and told him what I was looking for and he introduced me to Claudio.  He's been with me for 3 years and I don't need CS any more.