All Forum Posts by: Philip Willis

Bad time of year to be getting greedy. Especially over 50 bucks/month. If you aren’t sure it’s 50 or 200 then sounds like there may be even more things that you don’t know about landlording which will then take even more of your time to figure out, which may then draw out a vacancy even more.

If you already have applicants I would honor the original rent.

Remember you can always raise rents later.

If you repost with a higher rent and then it takes forever to find a highly qualified tenant you’ll be kicking yourself. I always try to ask myself “am I being greedy?” When I look back at mistakes I can usually say that I was being greedy.

I asked my lender this same question a few years ago and his response was simply that if someone wants to be a serious investor then that one indiscretion could potentially jeopardize their investing future forever, at least in regards to building a team of people with integrity. I think that the best people you could find to have on your team would not agree with purposefully going against owner occupied rules just to get a deal.

Let me rephrase. Is there an actual list of reasons why someone could legally go against this contract? Is the key word in the contract “ intent”? I could intend all kinds of things. I’m asking this question for people out there that might feel they have a fairly legitimate reason for moving out within a year, or for those that already have moved out of their fha loan home and now in reading this post are scared to death that they are going to go to jail. Are there going to be a bunch of new investors scrambling to move back into their prior homes for fear of jail time?

@Ryan Harsche just wondering if you could provide other legitimate reasons for not moving into a fha home? You Gave an example of an employer moving you, but are there others? For instance, I buy a home that I love and intend to stay in, but then a week after closing a different home is

Listed that I absolutely love...