All Forum Posts by: Pete T.

@Nicholas Kless you have to have one of them leave to move in. Otherwise, you wouldnt be able to purchase w/ a VA loan.

You will have to move in with in 60 days of closing, but there is no stated time frame you have to stay there w/ a VA loan. Only moving in and the intent of it being your primary residence.

@Jon Klaus l get the insurance portion or liability, that makes sense. However, there are a lot of statistics that are contradict your stance on the breed. Even the link you provided "has pit bull type" included. While I would agree those dogs can inflict more damage than most other breeds, the issue is the reputation, what is considered a pit bull (largest breed group, lots of mixed and not related breeds lumped in), and what is reported. To me, the classification of "aggressive breeds" is as simple as classifying people by race. I can only speak to my experience and research and have found small dogs to be much more aggressive than other dogs. But I wouldnt ban anyone w/ Jack Russell just bc I got bit by one.

Sorry for the novel- but thanks for clearing up the pit bull part.

I know a lot of people feel like it isnt worth it to get a judgement, but I would. In VA, it is simple to get a court date, all the costs are wrapped into the judgement. If you had even a decent tenant, they usually pay on the judgment bc it can affect them getting another place, credit, etc.

Not sure why assumed property "a" would appreciate more, but if it is a better neighborhood, that is the likely reason the cap rate is less (or could be). The location is a key detail in what value you are getting.

good advice by @Bill S.

Process each as you get them and put in the first qualified person. Makes it easy, legal, and fair. Why are you collecting all of these applications still and not looking at getting someone in?

@Duncan Taylor

I dont want to call anyone out in this group of posts, but I'll just say you might be losing some money with those "rules" I guess you could make some leap that someone w/ visible tats could affect...? Not really sure. If they are making a good living and visible tats are not a factor in their workplace, not sure why it matters. Same goes for pits. I understand no dogs for various reasons (hair, fur, wear, accidents, destruction, smells, etc.), but to single out pits just seems ignorant to me. If this is what some people say they base their decisions on, I am nervous about what they are not saying. For me, it makes more sense to base judgements off income, credit, criminal history, judgements, etc. I am not saying some tenants dont raise red flags, just dont get the pit bull and visible tat grouping.

I would like at the comps in that area and go from there. Keep in mind that a lot of the rules of thumb you read on BP will not apply in Norfolk. What area of Norfolk?

Maybe do another look at what places in your area are renting for. I wouldnt lower your standards and probably not the price if it is fair, but if it isnt renting, that is usually the reason. What is the rental history like? A discount for services is ok if it works for you, just make sure it is bc they want to save money and not need to.

I agree w/ Jon. @Jon Holdman, you always state the best answers in the simplest, most straight forward way.