All Forum Posts by: Neil Aggarwal

This is the single biggest factor which determines the action a tenant takes when things go badly. Renting to unreliable tenants is just asking for trouble down the road.

I screen thoroughly.  If they don't make the standard, I reject them and wait for a better applicant.  I believe that is why all my tenants have paid.  Some had to pay late and in multiple payments, but I forgave late fees and they all worked with me.

As always, quality matters.

Give them ONE chance and no more. Over-indulging tenants will only make it so they feel the rent is not a priority.

I took a look at their site.  I did not spend a lot of time, but make sure they are doing the calculations correctly.  Many times, they do the most optimistic calculations and/or ignore the cost of your funds.  Make sure you understand everything.  Also, do your own evaluation of the properties, do not take their numbers without checking.

And don't forget about depreciation recapture when you sell!

If you sell, you pay capital gains on the upside.  If you leave it to your heirs, the upside is part of your estate, subject to estate tax exclusion.  And then your heirs will get the properties with the cost basis set at that time.  Seems like that is a good reason not to ever sell.

 That is my biggest problem right now too.  I would love to buy more houses, but the asking prices are out the roof.  People want retail for wrecked properties.  Definitely not workable.

I don't understand the reluctance to share the address.  It is useless to talk about a zip code, that is a large area with all sorts of differences in properties.

If you are not getting showings and applications, you are asking too much for the property.  Condition, neighborhood, market, etc. play into it, but they all add up to the final number a prospect is willing to pay.

Where is the house?  Your profile says you are in Frisco, but that does not mean you invest there.

That is why I and most investors I know are sitting on the sidelines waiting for prices to come back down.

DFW in general is pricey right now, finding good deals is tough.  Fort Worth has better prices than Dallas. Where are you moving to?