All Forum Posts by: Pearly Tan

When you talk to lenders, let them know your goals and then pre-qualification would take place. Be sure your credit is good and all your income/asset documentation is ready.

What I have seen are HOA's charging move in fees to kind of "discourage" rentals in their association. The fees of course go to the HOA and not to the landlord.

@Anna Del Carmen - @Akash Jain just posted an update on his thread about a week ago here

https://www.biggerpockets.com/forums/92/topics/508816-my-experience-with-usreeb-turnkey-property?page=2

https://www.nj.com/hudson/2019/04/a-closer-look-at-jersey-citys-crackdown-on-airbnb-and-other-short-term-rentals.html

Heck, even if you don't renovate your home, taxes go up. It's NJ...

I would start by checking out the local assessment policy.

Love that tile on the bathroom walls. Congrats on your first deal, looks like it's coming along nicely!

@Tom S. Once balloon time hits, what are the options for the final payment if you don't have the cash? Refi the property?

@Terrick Osborne

If you can find one, go in with a partner with either of the deals if that helps you feel more comfortable starting out.

@Teho Kim

If you are looking at rent ready properties, it might also make sense to look for reputable turn key providers.

If you are that adamant to get them to break the lease, maybe cash for keys is an option. I'd make sure you research all your local laws to ensure you are covered with whatever option you decide to choose.