All Forum Posts by: Account Closed

I personally do not ever want to be a landlord again. I owner finance all of my houses. I sleep a lot better at night. And if I get the house back, I resell it for more, and another 5k down. 

Ask here on linkedin for info - 

https://www.linkedin.com/groups/New-Jersey-Real-Es...

I would assume since they have a group that the answer is yes? :) good luck.

I don't know if it will scare off renters, but there are advantages to requiring renter's insurance according to 

http://homeguides.sfgate.com/benefits-requiring-te.... 

Such as you are less likely to be sued if the property is damaged, and renter's insurance usually can include liability coverage that will pay you the landlord for repairs after say, there was a fire caused by the tenant. 

I personally got away from renters entirely a few years ago. I only owner finance my houses, and the occupant must pay for home insurance.

I have a good Kansas City contact, turnkey guy with experience. I will inquire on this  and get back to you. 

According to this source, New York City prohibits you from even asking about your potential tenants' status - 

http://www.nolo.com/legal-update/california-landlords-ask-immigration-citizenship-29214.html

I will check on Dallas, I have a good contact for San Antonio if you ever think about investing in s texas. 

Plan for success by doing your due diligence for the market you're interested in. Line up a good broker, PM and lawyer. Ask around for recommendations for those in your given area. I would bet you can find great contacts in any  major US market here on BP. I don't think there is any need to be afraid to invest out of state; if you are, then you probably haven't done all your homework yet. Best of luck. 

Passive cash flow.

Thank you for the mention, sir. Our 'turnkey' is a bit different - we do 5-10k rehab, and then locate an owner finance buyer for the investor. Then at that point upon move in, there are no further maintenance costs for the investor. 

I personally own four of these type deals in my city and I find it superior to owning rentals. I am not disparaging people who own rental property; I have done it myself before. I just prefer the hands off nature of owner financing distressed properties. 

The vital key is to qualify your buyer appropriately so that you do not get your house back in 3 months. I am pretty knowledgeable on that subject and I rarely get a house back, going back 13 years.

As far as where to invest in TX, the Big 4 all have their proponents. Austin gets all the press but entry costs are steep there. Dallas and Houston probably are cheaper and good too, not the expert on those towns. My city of San Antonio is always the sleeper that many forget about :). But we are starting to get attention - lots of CA cash is coming in here, driving up prices......60k for a 3/1! Outrageous :). It used to be 40k :)